Results 1,501-1,520 of 7,975 for speaker:Joe Higgins

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Components, yes. Can I move on rapidly, Mr. Boucher, perhaps? In relation to state aid, you've spoken that ... you said here today that NAMA would make a profit from loans to the Bank of Ireland. Do you mean that the €5.6 billion that was paid by NAMA, that they will get more back than that, is that what you mean?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: But are you aware that NAMA, in testimony, said to this committee that it overpaid the banks by €10 billion, €32 billion in total, to all the concerned banks, rather than €22 billion if they had been left exposed in the capitalist marketplace?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Well they gave quite a rationale in-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Mr. Boucher, you say as well that you repaid the recapitalisation. That's been repaid to the State.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Yes. Would you accept, or not, Mr. Boucher, that that repayment is far ... far from makes up the collateral damage to the economy, in general, that was caused by the bubble, and the role of the banks in creating a crash in the crisis, for example, damage to public services, to Exchequer funding, austerity on citizens, that there was a much wider collateral damage caused by what happened in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Yes. In relation to that, Mr. Boucher, then can I ask you, going into the future, where in the annual report 2014 Bank of Ireland you refer to €1.2 billion deferred tax asset and that you hoped that that would be recognised in full, does that mean that you can against the profits into the next several years, you can write off your losses by not paying corporation tax to the State?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Yes, so how much profit would you make then to ... before you have to start paying?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: I know, but in relation to tax and profits, Mr. Boucher, would it be true to say that, roughly, the next €9 billion in profits ... you won't have to pay any tax because of the deferred tax asset of €1.2 billion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Yes. Do you think ... would you understand if the taxpayers found it extremely galling that after a bank had been bailed out it has now a further €1.2 billion write-off of corporation tax that might help to make up some of the damage that many people felt was done by the collapse?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Okay. Last question so, Mr. ... or, Chairperson, is this. Mr. Boucher, in ... sorry, in 2007 you wrote a letter to Dublin City Council in relation to the Jury's Berkeley Court site ... it was being attempted to be developed by Mr. Dunne, and you said, I quote, "Dear Sir, I refer to the above and write to confirm my strong support for this landmark proposal which I believe will significantly...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Were other representations made by Bank of Ireland for ... in relation to developers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Why was it made in this case?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: I'm sorry, Mr. Boucher?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Chairman, can I ask you to explain, to the people out there listening, to explain the immunity issue? In response to a question I put to Mr. Boucher he says, "I don't have the immunity that members of the committee", but at the beginning you said, "The witness has absolute privilege", I think, so-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: I think it should just be explained to people who are listening to us.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: So, what's the value of saying to people that the witness has absolute privilege if he hasn't?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: I know, but any witness can then come and say, "Sorry -----"

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Joe Higgins: Mr. McCarthy, in your opening statement that you presented in written form to the inquiry on page 4 you say in 2003, that Ulster Bank contributed €350 million profit to the Royal Bank of Scotland and then you contrast that with €1 billion profits in Allied Irish Banks and €1.17 billion at Bank of Ireland. And then you say, "On this basis the enlarged [Ulster Bank]...