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Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (17 Jun 2015)

Peadar Tóibín: Human nature and business being what they are, people in business often have an incentive to use the system to their own benefit and to ensure gaps that arise can be used to reduce costs or improve profit. It is human nature and how business works. This is why it is important the Government ensure such gaps do not exist. Decent, fair regulation is a good thing. The absence of decent...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (17 Jun 2015)

Peadar Tóibín: Is dul chun cinn é an Bille seo, gan dabht. Bhí sé dochreidte gur fhágadh muintir na morgáistí IBRC amuigh san fhuacht go dtí seo mar gheall ar rialachán morgáiste. Is fadhb uafásach mhór í fós an ghéarchéim morgáiste sa tír seo. Tá duine as seisear i mo chontae féin i bponc mar gheall ar a...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (17 Jun 2015)

Peadar Tóibín: Aontaím go huile agus go hiomlán leis an leasú seo. Why should a home owner or business person not know everything about the loan that pertains to their property? Given modern technology, there is nothing to stop the bank from barcoding and individualising loans to ascertain the details and to manage the loan and disaggregate it for management purposes. I have dealt in my...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (17 Jun 2015)

Peadar Tóibín: Okay.

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (17 Jun 2015)

Peadar Tóibín: I mentioned this the last day and an Teachta Naughten referred to it. There are examples of firms that are doing their best to function and provide a service, employing workers in a fair and decent manner. If given an opportunity, they would trade out of the difficulties they are in. On Committee Stage I gave the Minister the example of a firm in County Meath that is seeking to...

Written Answers — Department of Jobs, Enterprise and Innovation: Job Creation Data (17 Jun 2015)

Peadar Tóibín: 115. To ask the Minister for Jobs, Enterprise and Innovation if he is aware of impending job losses at a company (details supplied) in County Clare, despite Government's announcement last year that the company intended to create 100 additional jobs over the next year; if he will provide, in tabular form, the annual number of full-time jobs announced by the Government, via the regular jobs...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: It is usually ten minutes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: The agenda for the ECOFIN meeting underlines the deep, comprehensive and invasive reach that the EU has within the Irish economy. Given the immediacy for Greece of the existential threat to the euro, I imagine most of the discussion, if not the thought, within the ECOFIN meeting will concern the crisis in Greece. Has the Government had any direct input into the negotiations regarding Greece?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: I can understand why-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: I appreciate that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: The Minister mentioned that Germany and France have skin in the game with regard to the level of debt that they are owed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: This country has more skin in the game per capitathan other countries in terms of the debt crisis, given the level of its debt burden. The Government has not made a direct positive engagement with regard to the write-down of Greek debt so far in the negotiations.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: Is it the case that the Government has become a debt hawk? If the Greek debt receives a write-down, it underlines the weakness in the Government's approach to the level of debt.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: The Greek Prime Minister, Mr. Tsipras, said recently that the issue of taxation and who pays tax is the responsibility of the Government of each country. Does the Minister agree?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: Is it the case that the negotiations currently taking place between Greece, France and Germany have, for all intents and purpose, a different angle?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: One of the points with regard to ECOFIN is the proposal on mandatory and automatic exchange of information on cross-border rulings. We all know where that came from. Does the Minister expect that the Commission will find there was a breach with regard to the Apple investigation? If it does, will Ireland stand to gain with regard to the repayment of taxes? If that is the case, will we...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: We met the Irish Fiscal Advisory Council last week and it was very critical of the spring statement and the Government's multi-annual projections with regard to budgeting. Its representatives also mentioned the fact that GDP is forecast to rise by 17.3% between 2016 and 2020 but Government consumption would only rise by 5.7%, meaning State spending as a proportion of GDP would actually...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: Surely it is to give a contrarian view if the Government is wrong but it can hardly be expected to give a contrarian view if the Government is right.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (16 Jun 2015)

Peadar Tóibín: Yes.

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