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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: In essence, is it the view of the Central Bank that cashbacks should be retained or is the Central Bank neutral on the question?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: I thank the witnesses.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: Our guests should have taken the break when the Chair offered it earlier. I admire their endurance. I have two points, the first being on the Brexit-related inflow into financial services. Professor Lane has been very consistent in stating that he does not want brass-plate operations and that when businesses move their headquarters or prudential regulation to Ireland, he wants...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: The witnesses are satisfied that is happening at the levels of CEO, CFO, chief risk officer, compliance, public policy and public relations.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: Was the Rebuilding Ireland home loan scheme raised? Professor Lane will be familiar with the background and the fact that the scheme was in the news recently because the money has essentially dried up. Just under 600 loans have been drawn down under the scheme and approximately 1,000 further mortgages have been approved. The initial tranche of money was €200 million. That has now...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: The Housing Finance Agency.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: Is Professor Lane saying that the Central Bank does not have concerns and will not be raising objections to the proposal that the scheme would go from €200 million to €800 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: Has the Department written to the Central Bank to ask for its opinion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Michael McGrath: Yes, I did.

Credit Union Restructuring Board (Dissolution) Bill 2019: Second Stage (Resumed) (13 Mar 2019)

Michael McGrath: I welcome the opportunity to make a contribution on the Bill. Fianna Fáil will support the legislation. I acknowledge the good work the restructuring board did in the period from 2013 to 2017, which was quite a challenging period for many credit unions. The fact ReBo facilitated 82 restructuring projects involving 156 credit unions in 24 counties on a voluntary basis was, undoubtedly,...

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: I thank all Deputies who contributed to the debate. The debate is not what is important. What is important is what follows. I want the Minister of State to use this debate as leverage to get more support and more movement on some of the key issues involved. It is a concern that there were no Ministers from the Departments of Justice and Equality or Business, Enterprise and Innovation....

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: Deputy Boyd Barrett will try to take ten.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: That does not prevent the Government bringing in the Judicial Council Bill.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: That does not block the Government bringing in the Bill.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: It was moved in November 2017.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: The Government will go to Committee Stage within the month then.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: Before the end of next month.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: The Bill will proceed to Committee Stage before the end of this month, even if the other Bill is still being debated.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: The Judicial Appointments Commission Bill was not blocking it then.

Business Insurance: Motion [Private Members] (13 Mar 2019)

Michael McGrath: I move:"That Dáil Éireann: recognises that:— micro-, small- and medium-sized enterprises currently employ over one million people in Ireland according to the Central Statistics Office (CSO); — the cost of employer liability insurance and public liability insurance is a direct threat to the competitiveness and sustainability of many businesses throughout the country,...

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