Results 16,021-16,040 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Mortgage Lending (18 Nov 2015)

Michael McGrath: Homes are not being built.

Ceisteanna - Questions - Priority Questions: Mortgage Lending (18 Nov 2015)

Michael McGrath: 1. To ask the Minister for Finance if he has asked the Central Bank of Ireland to carry out a review of residential mortgage lending rules; his views on the apparent inability of first-time buyers to obtain a mortgage, despite evidence of repayment capacity; if he aware of the difficulties of families seeking to trade up to a property more suited to their circumstances; and if he will make a...

Ceisteanna - Questions - Priority Questions: Mortgage Lending (18 Nov 2015)

Michael McGrath: I raise with the Minister the new Central Bank rules on deposits for mortgages. In particular, I want to ask him if he has asked the Central Bank to review the operation and impact of these macro-prudential rules which are undoubtedly having a significant impact on the ability of first-time buyers to purchase a home and of many families who are currently in an unsuitable dwelling or...

Ceisteanna - Questions - Priority Questions: Mortgage Lending (18 Nov 2015)

Michael McGrath: Just to be clear, I also fully respect the independence of the Central Bank but that does not take from my right as a public representative to take a view on these measures. In reality, the Department of Finance is in very close contact on a day-to-day basis with the Central Bank. I am not advocating in any sense a return to the type of lending we had in the past. I believe there should be...

Ceisteanna - Questions - Priority Questions: Mortgage Lending (18 Nov 2015)

Michael McGrath: I do.

Ceisteanna - Questions - Priority Questions: Mortgage Lending (18 Nov 2015)

Michael McGrath: While the data indicate that mortgage lending is picking up, it is coming from a position where it had collapsed completely. As the Minister has also pointed out on many occasions, percentage based statistics can be very misleading. The level of mortgage lending is exceptionally low. From my daily dealings with constituents, it is clear that their ability to access a mortgage has been...

Written Answers — Department of Finance: NAMA Assets Sale (18 Nov 2015)

Michael McGrath: 11. To ask the Minister for Finance the remaining assets the National Asset Management Agency has to dispose of, when it will conclude its mandate; the general strategy it will employ in its wind-down process; the expected overall outcome of its work; and if he will make a statement on the matter. [40353/15]

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael McGrath: 14. To ask the Minister for Finance when the regulations set out in the Central Bank of Ireland Consultation Paper 88 will be introduced; when the remaining sections of the Credit Union Act 2012 will be implemented; if he will delay the introduction of these measures, including the €100,000 cap on the savings of credit unions, pending a consultation with industry stakeholders on their...

Written Answers — Department of Finance: Insurance Costs (18 Nov 2015)

Michael McGrath: 15. To ask the Minister for Finance his views that the regulatory model has contributed to recent difficulties in the insurance sector; the actions he will take to deal with soaring motor insurance costs; if he will establish a task force to deal with insurance costs, given the success of this approach in the past; and if he will make a statement on the matter. [40354/15]

Written Answers — Department of Finance: State Banking Sector (18 Nov 2015)

Michael McGrath: 16. To ask the Minister for Finance how the State will maximise the proceeds from a future disposal of Allied Irish Banks; how these proceeds will be deployed; his views on the comments by the Governor of the Central Bank of Ireland, Mr. Patrick Honohan, on the lack of competition in the Irish banking sector; if this will influence the sale process for Allied Irish Banks; and if he will make...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: I will be brief. It has been an interesting debate but it captures the essence of the budgetary debates we have had, not just this year but also in the last few years. Neither I nor my party believe that someone who earns €70,000, €80,000 or €100,000 is necessarily on the pig's back. It is all relative and it depends on people's financial commitments such as mortgages...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: Yes. In the budget documentation the Government is cleverly presenting the example of a person on a minimum wage, as if the minimum wage increase is being paid for by the Government. It is not; it is being paid for by employers. On this occasion, the way to help a person in the €20,000 to €30,000 bracket could have been to increase tax credits. Those people are still paying...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: We dealt with that proposal separately.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: The section is one that we welcome. I want to ask the Minister about the overall numbers, because he confirmed in reply to a parliamentary question that 111,600 people would benefit from the change in 2016. The cost is estimated to be €18 million in 2016 and €61 million in a full year. Until recent months, the expected cost of introducing this credit was expected to be far...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: I want the Minister to clarify a point relating to the reduction of approximately 170,000 in the number of people expected to benefit. Do we know how many of them are already getting the PAYE credit? Is it the case that we are not giving them a second credit by way of the earned income tax credit? How many of these do not have either the PAYE credit or will not now get the earned income...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: Do we know what level of PAYE income a person must have to get the PAYE credit?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: What is the position in the case of a person who, before this Finance Bill, had a combination of PAYE and non-PAYE income? What level of PAYE income would that person require to get the €1,650 credit?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: If the person earned anything less, he or she would not have got the PAYE credit at all. Is that correct?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: This relates to an issue I have raised already with the Minister on the number of people or income tax cases who are benefiting currently from the home carer tax credit. Perhaps I am wrong, but I have the impression that many people who may be entitled to this credit are not claiming it. The onus is on the taxpayer to claim it. I understand approximately 81,000 taxpayers benefited from...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)

Michael McGrath: Is it the case that others have actually claimed it and that 81,000 is not the number of people benefiting overall? Is that the number of cases where the revenue has automatically given credit? Can we have the global figure?