Results 15,161-15,180 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (23 Jun 2016)

Michael McGrath: I believe there is an issue and that it will become a much bigger one. It is true to say the new owner of the loan steps into the shoes of the original lender and all the same terms and conditions apply. However, the nature of a commercial loan agreement is such that it is heavily stacked in favour of the lender. Basically, the loan can be called in at will and in the matter of a number of...

Other Questions: Infrastructure and Capital Investment Programme (23 Jun 2016)

Michael McGrath: Hear, hear.

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (23 Jun 2016)

Michael McGrath: 3. To ask the Minister for Finance if he is concerned at the manner in which commercial loans are being offered for sale and are being actually sold by non-bank entities and the fact that commercial loans can now be bought by private citizens and by persons in business who may be competing with the borrower concerned; if he will make changes in this area to ensure that loans can only be sold...

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (23 Jun 2016)

Michael McGrath: This question relates to business loans, as opposed to mortgages. I have previously raised with the Minister the issue of the owners of loans, in some cases vulture funds, not needing to be regulated. The legislation of last year, to which the Minister referred, requires a credit servicing firm as an intermediary to be a regulated entity. My concern is that the large portfolios of loans...

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (23 Jun 2016)

Michael McGrath: These funds bought large portfolios of loans from NAMA, IBRC and banks departing Ireland. They are now slicing up those portfolios into much smaller parcels of loans and, under existing law, anyone can buy a loan. If one person owns a hotel in Dublin and I own a hotel down the road, I may be in a position to buy that person's loan. To comply with the law, I would have to appoint a credit...

Ceisteanna - Questions - Priority Questions: EU Membership (23 Jun 2016)

Michael McGrath: 1. To ask the Minister for Finance the steps he has taken to prepare for the economic implications that would arise for Ireland in the event of a possible vote by the British people to leave the European Union; and if he will make a statement on the matter. [17749/16]

Ceisteanna - Questions - Priority Questions: EU Membership (23 Jun 2016)

Michael McGrath: I apologise for delaying the House. As we speak in the Chamber, the people of Great Britain are voting on the question of whether to remain in the European Union. Clearly, a decision by Great Britain to leave the EU would have very significant consequences for Ireland in terms of trade, the free movement of people and the land border we have with the Six Counties. I understand that if the...

Ceisteanna - Questions - Priority Questions: EU Membership (23 Jun 2016)

Michael McGrath: I thank the Minister for his response. Clearly, we are speaking about a hypothetical situation, but it is a distinct possibility. The opinion polls have been quite mixed in recent days in terms of what the outcome is likely to be. The fundamental pillars of the European Union are the free movement of goods and services and of labour, so for us as a country the key issues that will need to...

Ceisteanna - Questions - Priority Questions: EU Membership (23 Jun 2016)

Michael McGrath: I thank the Minister for his clarification of the Governor of the Central Bank's comments and the plans that are in place in respect of the money markets and the fallout from a possible vote by the UK to depart from the European Union. The Minister has touched on the central issues. While the free movement of people may be preserved, does that extend to the free movement of labour?...

Summer Economic Statement 2016: Statements (23 Jun 2016)

Michael McGrath: I thank the Ministers and Minister of State for their opening remarks on the summer economic statement and the opportunity to make a contribution to this debate. I welcome the fact that we now have a summer economic statement. It is more meaningful that a spring economic statement by virtue of the fact that it is closer in the time cycle to the budget. I also welcome the reforms that are...

Questions on Proposed Legislation (23 Jun 2016)

Michael McGrath: Last month the Dáil passed the Second Stage of the Central Bank (Variable Rate Mortgages) Bill 2016. When does the Government intend to bring that Bill to Committee Stage? The Tánaiste might give us an update on that. It has been reported that RTE will tonight air a report raising serious concerns about the national suicide charity, Console, with some serious alleged...

Leaders' Questions (23 Jun 2016)

Michael McGrath: I thank the Tánaiste for her reply, but to be honest concern from Government is no longer enough - motorists want action on the issue. The Minister for Finance set up a Department-led review of the wider insurance sector a number of months ago and, as part of that, it is looking at issues relating to motor insurance. That is not, however, an independent task force which would be at...

Leaders' Questions (23 Jun 2016)

Michael McGrath: I beg the indulgence of the Ceann Comhairle. I am sure the Tánaiste will want to join with me in congratulating the Irish soccer team and the management on their outstanding success last night. It was a tremendous victory against Italy in Lille. They have done us proud, as have the fans, over the past number of weeks. We wish them and, indeed, Northern Ireland all the best in the...

Written Answers — Department of Finance: Tax Code (23 Jun 2016)

Michael McGrath: 13. To ask the Minister for Finance if it is logistically possible to introduce a tax on sugar sweetened drinks in 2017, in the event of a decision being made to proceed with such a tax; and if he will make a statement on the matter. [17529/16]

Written Answers — Department of Finance: State Banking Sector (23 Jun 2016)

Michael McGrath: 25. To ask the Minister for Finance the current timeline he envisages for disposal of the State’s holding in banks (details supplied); the market conditions he believes would need to be in place, before proceeding with an initial public offering, IPO, and if he expects there to be a retail element to any IPO; and if he will make a statement on the matter. [17527/16]

Written Answers — Department of Finance: Central Bank of Ireland Investigations (23 Jun 2016)

Michael McGrath: 26. To ask the Minister for Finance the status of the investigation into mistreatment of tracker mortgage customers by Irish financial institutions; the timetable for resolution of the matter; the interim measures that can be implemented to assist customers; and if he will make a statement on the matter. [17531/16]

Written Answers — Department of Finance: Life Insurance Policies (23 Jun 2016)

Michael McGrath: 30. To ask the Minister for Finance if he or the Central Bank has any plans to conduct a review into whole-of-life assurance policies, which have resulted in some enormous hikes in premiums payable by policyholders, in order to maintain benefits; and if he will make a statement on the matter. [17530/16]

Written Answers — Department of Finance: Financial Services Ombudsman (23 Jun 2016)

Michael McGrath: 49. To ask the Minister for Finance his plans to address the inability to complain of customers who become aware of difficulties with a financial product more than six years after they initially purchased it, in particular long-term products such as endowment mortgages, certain investments and pensions; and if he will make a statement on the matter. [17528/16]

Written Answers — Department of Justice and Equality: Judicial Appointments (23 Jun 2016)

Michael McGrath: 66. To ask the Minister for Justice and Equality the process of selecting persons for judicial appointments; her plans to change this system; if further appointments will be made prior to these reforms being introduced; and if she will make a statement on the matter. [17647/16]

Written Answers — Department of Finance: Disabled Drivers Grant Eligibility (23 Jun 2016)

Michael McGrath: 91. To ask the Minister for Finance his plans to review the eligibility criteria for a person to qualify for a primary medical certificate under the disabled drivers and disabled passengers (tax concession) scheme, 1994; if the medical board of appeal has any discretion regarding the application of the rules; why a person without an arm and with limited use of the other arm does not qualify...