Results 9,781-9,800 of 12,320 for speaker:Paul Murphy

Ceisteanna - Questions - Priority Questions: Human Rights (21 Sep 2017)

Paul Murphy: I thank the Minister of State for her response and for the Government's statement a few weeks ago. To describe what is happening as excessive violence by the Myanmar state is a significant understatement. What is happening appears to be ethnic cleansing carried out by the Myanmar military in collusion with Buddhist chauvinist mobs. The consequences are very shocking. More than 400,000...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: I thank the witnesses for the presentation. What was the thinking behind the hashtag advert which went, "Orla and her boyfriend stopped renting and moved back with their parents to save the deposit for their 1st home"?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: Would Mr. McLoughlin accept that the story the bank was telling, as described by Francis Doherty of the Peter McVerry Trust, that it pointed to a strategy by the banks to entice people to borrow as much as possible to buy houses that are as unaffordable as possible?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: Clearly, the narrative that the story is a part of is an expression of a part of the housing crisis in that people are unable to rent, are forced back to live with their families or parents in order to be able to afford to go on and rent or to get a mortgage. Does Mr. McLoughlin accept that it was ill-advised?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: I am not sure people like that one. It is fair to say that it did not go down well.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: It was viewed as reflecting an attitude taken by the banks and establishment generally of blaming young people or pushing them to take the drastic step of not living independently in order that they would be able to afford a home. That is how it was perceived by people.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: The flip side of that story is the degree to which homes are unaffordable. The witness stated the average income to price ratio for a first-time buyer shown in the questionnaire was 2.88. With the average house price in Dublin currently slightly more than €400,000, this means the combined income of two people seeking to buy a house would be €140,000. Obviously, this is not a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: On the buy-to-let market, the response to Question 8 indicates there were 234 assisted voluntary sales and surrenders of buy-to-let properties. Do the witnesses have figures on the number of these sales which resulted in a tenant being evicted to achieve vacant possession?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: Mr. Mason referred to receivers. In answer to Question 10, the bank indicated that, as of 30 June 2017, a fixed charge receiver had been appointed or approved to 819 properties. If one can adds the figure of 819 to the figure of 234 voluntary sales or surrenders, one arrives at a figure of more than 1,000 properties.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: Okay.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: I take Mr. Mason's point. Let us say the figure is 850 properties. Does the bank have no idea if there have been evictions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: In that case, evictions could have taken place in more than 1,000 properties. However, the bank has no record of evictions and has no idea if any have taken place.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: Does the bank have any procedure in place to protect tenants who would face homelessness in the event of eviction?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: The following question was answered earlier, although not fully. The witnesses indicated the bank has a low number of vacant properties. Will Mr. Mason indicate what is the average length of time properties remain vacant when the bank takes possession?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: A number of non-governmental organisations in the housing sector have raised this issue. Last year, for example, Threshold informed the Joint Committee on Housing, Planning, Community and Local Government that there was clear evidence available to its services that when vacant possession was obtained for sales purposes properties were left unoccupied for a considerable period.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: We will move to an unrelated issue, namely, the bank account of the Ireland Palestine Solidarity Campaign, which has been discussed previously at the committee. I understand representatives of the campaign had a meeting with the bank last February following correspondence with the committee. After all of that, including correspondence with various Deputies, we are still none the wiser as to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: In that case, and speaking in general terms, are there are any regulations that apply only to Bank of Ireland and do not apply to Allied Irish Banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: I am fairly sure AIB also operates in the jurisdictions Mr. Farrell cited. I will, therefore, ask the question-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: AIB, like Bank of Ireland, operates in the United States and is subject to the same regulations. Therefore, the argument that some regulation prevents Bank of Ireland from allowing an account does not make sense. Is that not the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Paul Murphy: I can confirm that Allied Irish Banks also operates in the United States. As such, Mr. Farrell's argument does not make any sense. As for the other argument, let us deal with it in abstract terms. How can it be the case that an individual or body having money deposited in a current account with Bank of Ireland can present a risk for the bank? What could happen? The bank has their money....