Results 12,661-12,680 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Stability and Growth Pact (3 Oct 2017)

Michael McGrath: 120. To ask the Minister for Finance when the State is required to achieve its medium-term budgetary objective of a structural deficit of not greater than 0.5% under the domestic and EU fiscal rules; and if he will make a statement on the matter. [41786/17]

Written Answers — Department of Education and Skills: Residential Institutions Statutory Fund (3 Oct 2017)

Michael McGrath: 137. To ask the Minister for Education and Skills the reason the appeal of a person (details supplied) in County Cork to Caranua has been refused; and if he will make a statement on the matter. [41275/17]

Written Answers — Department of Foreign Affairs and Trade: Election Monitoring Missions (3 Oct 2017)

Michael McGrath: 207. To ask the Minister for Foreign Affairs and Trade the travel advice for Irish citizens wishing to travel to Kenya around the time of the planned elections there on 26 October 2017; and if he will make a statement on the matter. [41282/17]

Written Answers — Department of Health: Departmental Contracts (3 Oct 2017)

Michael McGrath: 277. To ask the Minister for Health his views on whether it is unfair that employees of section 39 organisations had their pay cut in line with the financial emergency measures in the public interest, FEMPI, legislation on the instruction of the HSE but now those organisations are not in a position to restore the pay of the employees of these section 39 organisations in view of the fact that...

Written Answers — Department of Health: Medicinal Products Licensing (3 Oct 2017)

Michael McGrath: 311. To ask the Minister for Health further to Parliamentary Question No. 1202 of 11 September 2017, if the onus is on the manufacturer of the drug to initiate the process of having it added to the reimbursement list; and if not, if there is a way for affected persons to commence this process [41320/17]

Written Answers — Department of Transport, Tourism and Sport: Sports Capital Programme Administration (3 Oct 2017)

Michael McGrath: 510. To ask the Minister for Transport, Tourism and Sport when he plans to announce the allocations under the 2017 sports capital grant programme. [41279/17]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: I welcome our guests. I saw most of the earlier questioning on the monitors but if I repeat any, let me know. In respect of interest rates, Mr. Masding said in the questionnaire that one in three of those eligible have applied for the managed variable rate. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: Mr. Masding said that 51,000 customers are still on the standard variable rate, SVR. Is that on a rate of 4.5%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: Just to clarify, for the existing-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: So broadly speaking, the number is in the mid-forties on an SVR of 4.5%. In respect of the bank's managed variable rates, greater than 90% for existing customers to greater than 90% loan-to-value, LTV, is a rate of 4.3%. Is that also available to those in negative equity? Is it between 90% and 100% or is it in excess of 100% where one still gets a managed variable rate of 4.3%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: So 45,000 customers or so, irrespective of their LTV, who are currently paying 4.3% are entitled to a reduction in their interest rate if they go about it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: That is a lot of people. It might be a reduction of only 0.2% of 1% but depending on the principal balance of the mortgage, that could make a difference. Why does Mr. Masding think the uptake in general has been so poor? I think Mr. Masding said in the questionnaire that the bank wrote to people back in 2015.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: What is the process for a customer involved? Must they select a valuer from a panel provided by the bank? How does it work in practice?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: In 2015?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: The headline there is that one in three who were entitled to some reduction went ahead with it and received it but that two thirds of the banks' customers on a variable rate have not gone about it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: And all of them are entitled to some reduction.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: It is quite extraordinary, is it not?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: It is hard to understand. In terms of the bank's rates for new business - the 1% discounted rates - people get that for one year. What do they then revert to? Do they revert to the rates for existing business?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: So new customers can get 2% cash back and a discounted MVR for one year. The witnesses referenced treating existing and new customers the same but the bank is not doing so in terms of its overall offering. An existing customer with Permanent TSB-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

Michael McGrath: The bank's existing customers are paying for it. They are paying for the 2% cash back and the discounted MVR for new customers. The banks must make up the money somewhere.