Results 11,401-11,420 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: I will ask Mr. Thompson about a related issue, the passporting into Ireland of insurance services. Ireland is part of the EU Single Market and it is allowed that firms such as Setanta can have their prudential regulation in another EU member state and be regulated here only for conduct of business purposes. Does Insurance Ireland have any concerns about the nature of the EU-wide regulation?...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: With regard to the outstanding claims that are caught up in the Setanta collapse, Mr. Thompson knows it has been a real nightmare for many because claimants have been left short and left waiting to get all of their legitimate claims settled. Of course, policyholders have been really left there in the sense that they have been informed that, legally, they could be held personally liable for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: The legislation will not be retrospective so the resolution of the outstanding Setanta claims will be dealt with outside of this legislation. Is that not the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: I welcome Mr. Gurría and his colleagues. My first question is related not to the economic survey of Ireland but the OECD's work on digital taxation. We know that the European Commission is working on proposals for changes in how tech companies are taxed across Europe. I understand that the OECD is also doing work on this issue. Can Mr. Gurría confirm what work is being done and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: For a number of European countries, the issue is about taxing these companies and generating more tax revenue from this source. Is the OECD seeking to move in the same direction as some European countries, at least the larger countries, in moving to a turnover based tax for these companies, whereby the tax would be levied based on the users of the companies' services are located, rather than...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: Ireland has been highly successful in attracting foreign direct investment. One of the tables in the survey shows that corporation tax receipts in 2011 accounted for 10% of all tax collected in Ireland and this figure had increased to 16% in 2017. In addition, 80% of corporation tax collected in Ireland is paid by multinational companies and the top ten companies or groups pay approximately...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: Mr. Gurría referred to non-performing loans in the Irish financial system, which is also noted in the survey. While the level of non-performing loans is falling, it continues to be elevated compared with European levels. The OECD has referred to the need to reduce these loans. Does Mr. Gurría have a view on the different ways in which this type of loan can be reduced, for...

Written Answers — Department of Finance: Mortgage Arrears Rate (8 Mar 2018)

Michael McGrath: 38. To ask the Minister for Finance the non-performing loan ratio on residential mortgages according to the latest statistics; the non-performing loan ratio on residential mortgages in each eurozone country; and if he will make a statement on the matter. [10889/18]

Written Answers — Department of Finance: Banking Sector Data (8 Mar 2018)

Michael McGrath: 39. To ask the Minister for Finance the number and value of completed loan sales here in 2017 from Irish regulated banks; the number and value of ongoing loan sales here currently from Irish regulated banks; and if he will make a statement on the matter. [10890/18]

Written Answers — Department of Finance: Banking Sector Data (8 Mar 2018)

Michael McGrath: 40. To ask the Minister for Finance the number of Irish regulated banks that have adopted IFRS 9 before the 2018 deadline; his views on the impact its adoption will have on the loan book of Irish regulated banks; his further views on whether it will likely lead to a greater number of loans being classified as non-performing by Irish regulated banks; and if he will make a statement on the...

Written Answers — Department of Finance: Banking Sector Data (8 Mar 2018)

Michael McGrath: 41. To ask the Minister for Finance if the European Central Bank or the European Banking Authority has guidance on the sale of non-performing loans to third party vendors; if he has brought the issue of the sale of non-performing loans to unregulated private equity funds to the attention of the ECB or the EBA; and if he will make a statement on the matter. [10949/18]

Written Answers — Department of Finance: Small and Medium Enterprises (8 Mar 2018)

Michael McGrath: 67. To ask the Minister for Finance if he has satisfied himself that the Central Bank’s consumer protection code, code of conduct on mortgage arrears and code of conduct for business lending to small and medium enterprises are all on a statutory basis and are not voluntary; and if he will make a statement on the matter. [11515/18]

Written Answers — Department of Finance: Tax Reliefs Application (8 Mar 2018)

Michael McGrath: 69. To ask the Minister for Finance the progress of the report on limiting tax reliefs on losses carried forward for banks; when the report will be completed and published; and if he will make a statement on the matter. [11534/18]

Written Answers — Department of Finance: Banking Sector Remuneration (8 Mar 2018)

Michael McGrath: 70. To ask the Minister for Finance the position in terms of the relationship frameworks with each of the State supported banks when it comes to executive and management pay limits and bonuses including share based bonuses for management and executives; if he must be consulted if one of the banks wishes to change the limit or the ban on bonuses; if he has the power to grant or reject the...

Written Answers — Department of Finance: Credit Register Administration (8 Mar 2018)

Michael McGrath: 71. To ask the Minister for Finance when the Central Credit Register will be fully operational; the steps that have been taken to date in its implementation; if personal contract plans will be included on the register along with other hire purchase agreements; and if he will make a statement on the matter. [11536/18]

Written Answers — Department of Finance: Personal Contract Plans (8 Mar 2018)

Michael McGrath: 72. To ask the Minister for Finance the number of personal contract plan providers here; the number and value of PCPs in existence; the number and value of PCPs that are behind on their payments; and if he will make a statement on the matter. [11537/18]

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (8 Mar 2018)

Michael McGrath: 73. To ask the Minister for Finance the number and value of enforcement fines made against licensed credit institutions in each of the years 2013 to 2017 and to date in 2018; the number and value of enforcement fines made against retail credit firms in each of the years 2013 to 2017 and to date in 2018; the number and value of enforcement fines made against credit servicing firms in each of...

Written Answers — Department of Finance: Insurance Coverage (8 Mar 2018)

Michael McGrath: 74. To ask the Minister for Finance the number of applications made for declined insurance in each year since 2014 and in each month in 2018; the number of applications accepted for declined insurance in each year since 2014 and in each month to date in 2018; and if he will make a statement on the matter. [11540/18]

Written Answers — Department of Finance: Severe Weather Events (8 Mar 2018)

Michael McGrath: 76. To ask the Minister for Finance if he has undertaken an assessment of the economic impact of recent adverse weather conditions; his plans to review projections for economic growth for 2018 in view of recent adverse weather conditions; and if he will make a statement on the matter. [11615/18]