Results 17,981-18,000 of 35,756 for speaker:Pearse Doherty

Ceisteanna - Questions (Resumed - Priority Questions: Capital Expenditure Programme (26 Sep 2017)

Pearse Doherty: I recognise that there is to be an increased level of capital expenditure over the next number of years. This will represent an increase from the lowest level in Europe, which is the baseline from which we are working. When one is at the lowest level in Europe, it is easier to get 60% or 70% increases because one is starting from a very low base. Nonetheless, there is an increase and it...

Ceisteanna - Questions (Resumed - Priority Questions: Capital Expenditure Programme (26 Sep 2017)

Pearse Doherty: We can talk about where we are, about the fact that we are at the lowest level in Europe and about getting to the midpoint or the higher midpoint, but the Minister must recognise that our capital investment was €10 billion and fell to €4 billion. There was a massive withdrawal of investment here. That is why we have a housing crisis, why our roads are now under pressure, why...

Ceisteanna - Questions (Resumed - Priority Questions: Capital Expenditure Programme (26 Sep 2017)

Pearse Doherty: 35. To ask the Minister for Public Expenditure and Reform if he will use budget 2018 to address the State’s need for infrastructure investment; and if he will make a statement on the matter. [40547/17]

Ceisteanna - Questions (Resumed - Priority Questions: Capital Expenditure Programme (26 Sep 2017)

Pearse Doherty: This question follows on from the same line of questioning of my colleague, Deputy Calleary. It relates to the capital plan. As opposed to the review in the sectors under most pressure and where capital will be allocated, is the Minister of the view that he will increase the overall envelope in terms of capital more than what has already been outlined in the review using the resources that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: Fáilte chuig an coiste. Does Mr. Byrne believe there is a risk of a property bubble occurring in Ireland, either in the housing or the commercial sector? Does he believe we are seeing the signs or ingredients of a property bubble?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: When we talk about a property bubble, we remember the scars of the past. The bubble of the past was very much credit-fuelled. However, a bubble does not necessarily have to be credit fuelled and obviously this one is not. Some would argue we are seeing artificially high values that have risen significantly over a short period of time, which is a type of bubble. A bubble would mean that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: This committee should pay attention to concerns that have been raised. It is to be hoped that we will not be poring over this transcript in ten years time and saying Mr. Byrne said this and gave us all these reassurances. However, individuals and organisations have raised concerns about what has happened in the market. For example, the OECD expressed concerns in a report in June about a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: What are the bank's internal projections for house price increases for 2018?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: Mr. Mulhall, what would be the average level of house price increase that you expect to see in Dublin?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: My question was not about what we have seen but what we are likely to see because the banks are obviously projecting what will happen in the next 12 months.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: That is roughly 6.5%. The cost of house building was discussed in great detail and much remains to be done. A colleague of mine mentioned the AIB funding of the Housing Agency. I welcome that as well. In Mr. Byrne's opening statement, there was a reference to Poppintree and Ballymun. I think that is a great initiative. Mr. Byrne also said that it can be expanded, something with which I...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: Given what we have just discussed in terms of the cost of building houses, how can we build houses and sell them for that price?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: Even with the fact that there is no site cost, a house costing €170,000 is still a very low cost house. We have people coming before this committee, including NAMA, saying that house prices have to be €330,000 before it is viable to build them. In Ballymun, through Allied Irish Banks finance and a Housing Agency, they are able to deliver a house, excluding the site cost for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: Mr. Byrne mentioned mortgages. Is the bank doing debt write downs in respect of those who are voluntarily surrendering their houses and writing off the residual part of the debt?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: Does Mr. Byrne believe that there is a need for the bank to up its game, but for a lengthy period during the crisis, the bank was an absolute disaster. We put the focus on NAMA, but arguably AIB was worse in terms of the quantum of losses. Now that AIB is back in serious profit - yet many customers are still in serious mortgage arrears - is there a point where it needs to draw a line and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: When Mr. O'Keeffe says the bank will be bringing something to market, will there also be a statement that the bank will deal with the residual debt? This is capitalism. This is the banks' game. They do this all the time. They wipe debts, which is why interest is charged and so forth. They are extremely harsh on many customers here, which is causing major concern. Mr. O'Keeffe's bank is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: I have a number of questions that I want to get through as quickly as possible. How many houses does the bank have under its control that are vacant, through surrender, whether voluntary or otherwise, and how many has it offered to the Housing Agency?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: I am trying to follow these tables and ask Mr. O'Keeffe to correct me if I am wrong. There are 280 properties about which the bank is engaged with the Housing Agency. The bank has taken about 80% of the funding and is the leader in terms of the agency purchasing properties. How many properties does the bank have in its control?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: So, in terms of the 1,600-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Pearse Doherty: Are they all empty?