Results 12,121-12,140 of 27,945 for speaker:Michael McGrath

Other Questions: Banking Sector Regulation (30 Nov 2017)

Michael McGrath: This issue relates to Ulster Bank's Global Restructuring Group, GRG, in Ireland. Between 2008 and 2013 over 2,100 SME customers were put into GRG, with loans of between €1 million and €25 million and a total portfolio value in the region of €14 billion, I think, but I will have to double check that figure. The issue is the role of the Central Bank in dealing with the...

Other Questions: Banking Sector Regulation (30 Nov 2017)

Michael McGrath: The central allegation is that the GRG was something of a graveyard for businesses and that Ulster Bank, much like Royal Bank of Scotland, RBS, in the United Kingdom, acted inappropriately and very aggressively in the appointment of receivers and liquidators, with the ultimate objective of gaining control of the assets of the underlying business. That is the central allegation. Last month...

Ceisteanna - Questions - Priority Questions: Insurance Industry (30 Nov 2017)

Michael McGrath: 3. To ask the Minister for Finance the status of a company (details supplied); his plans to publish the actuarial report on the liquidation of the company; when he expects to receive legal advice from the Attorney General; if he has consulted with the industry on the way in which to deal with the residual claims outstanding following the liquidation; and if he will make a statement on the...

Ceisteanna - Questions - Priority Questions: Insurance Industry (30 Nov 2017)

Michael McGrath: This question relates to Setanta Insurance and the fallout from the collapse of that company in April 2014. This matter has developed into a nightmare for many of the policyholders concerned. I have discussed it with the Minister of State, Deputy D'Arcy, on a number of occasions. The current state of play is that many Setanta policyholders are being told, legally, that they are potentially...

Ceisteanna - Questions - Priority Questions: Insurance Industry (30 Nov 2017)

Michael McGrath: I thank the Minister of State for his reply. We have a situation here where Irish motorists took out valid insurance policies from a firm that was regulated here, albeit only for conduct of business purposes. The firm went bust and, three and a half years, later many of these policyholders are faced with the very real threat that they will be held personally liable for any shortfall in the...

Ceisteanna - Questions - Priority Questions: Insurance Industry (30 Nov 2017)

Michael McGrath: I ask the Minister of State to clarify when the next tranche of payments from the ICF can be made. I know, for example, that approximately one third of the outstanding claims have had the first payment made, which is up to 65% or €825,000 but my understanding is that such payments can only be made every six months. I ask the Minister to clarify when the next bundle of payments will...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Michael McGrath: The amount of compensation an affected person gets is as if it were determined in a game of roulette. There is no consistency across the various institutions. I am asking the Minister whether he agrees the power to decide on the level of compensation should be removed entirely from the banks. Currently, there are appeals panels but they are under the umbrella of the institutions concerned....

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Michael McGrath: They are set up by the banks.

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Michael McGrath: 1. To ask the Minister for Finance the status of the tracker mortgage scandal; and if he will make a statement on the matter. [51247/17]

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Michael McGrath: Both questions are very similar. They ask the Minister to provide an update on the tracker mortgage scandal, in particular following his meeting with the banks and the subsequent update we got from Bank of Ireland that an additional 6,000 mortgage accounts had been identified as being affected. This is an opportunity for the Minister to give the House an update on the overall picture,...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Michael McGrath: This scandal is growing arms and legs. The 13,000 has now become 19,000 when one includes the extra 6,000 from Bank of Ireland. Prior to that examination another 7,100 cases were uncovered. Between those alone, the total is now of the order of 26,000 mortgage accounts affected. Some banks have provided ranges of potential affected customers. The Minister has acknowledged that the number...

Written Answers — Department of Finance: Motor Insurance Costs (30 Nov 2017)

Michael McGrath: 15. To ask the Minister for Finance the status of the second phase of the cost of insurance working group in relation to employer liability and public liability; when the working group will come forward with recommendations; and if he will make a statement on the matter. [50796/17]

Written Answers — Department of Finance: Paradise Papers. (30 Nov 2017)

Michael McGrath: 33. To ask the Minister for Finance if wrongdoing occurred in relation to Irish persons or companies in view of the work undertaken by the Revenue Commissioners to determine the publication of the Paradise Papers; if it has identified particular loopholes that were availed of to legally evade tax in offshore jurisdictions; the action he has taken in relation to the State supported banks that...

Written Answers — Department of Finance: Banking Sector (30 Nov 2017)

Michael McGrath: 46. To ask the Minister for Finance his views on developing a public banking model here similar to the model (details supplied) in Germany; and if he will make a statement on the matter. [50799/17]

Written Answers — Department of Finance: European Court of Justice Rulings (30 Nov 2017)

Michael McGrath: 55. To ask the Minister for Finance the progress made in setting up the escrow account for the money owed by a company (details supplied); when it will be established; when the Commission's decision against the State for the delay in collecting money from the company will be heard by the European Court of Justice; the scope that is there for the Commission to remove its decision against the...

Written Answers — Department of Finance: Fiscal Data (30 Nov 2017)

Michael McGrath: 74. To ask the Minister for Finance the projected figures for net fiscal space in each of the years 2019 to 2023; and if he will make a statement on the matter. [51339/17]

Written Answers — Department of Finance: Tax Code (30 Nov 2017)

Michael McGrath: 75. To ask the Minister for Finance the first and full year cost of increasing the year limit for the special assignee relief programme from five to ten years; and if he will make a statement on the matter. [51340/17]

Written Answers — Department of Finance: Tax Code (30 Nov 2017)

Michael McGrath: 76. To ask the Minister for Finance the first and full year cost of reducing the €75,000 limit to €60,000, to €50,000 and to €40,000, respectively, for the special assignee relief programme; and if he will make a statement on the matter. [51341/17]

Written Answers — Department of Finance: Tax Code (30 Nov 2017)

Michael McGrath: 77. To ask the Minister for Finance his plans to extend the special assignee relief programme (SARP) to employees employed from outside the organisation rather than restricting it to employees moving within an organisation; the cost of increasing the scope of SARP; and if he will make a statement on the matter. [51342/17]

Written Answers — Department of Finance: Universal Social Charge Data (30 Nov 2017)

Michael McGrath: 78. To ask the Minister for Finance the first and full year costs of decreasing the non-PAYE USC surcharge from 3% to 2%, to 1%, to nil, respectively; the estimated number of persons affected by such a change; and if he will make a statement on the matter. [51343/17]