Results 18,801-18,820 of 27,945 for speaker:Michael McGrath
- Written Answers — Department of Education and Skills: Site Acquisitions (13 May 2015)
Michael McGrath: 182. To ask the Minister for Education and Skills the position regarding a school building project (details supplied) in County Meath. [18829/15]
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Thank you, Chair. You're very welcome, Mr. Parlon and Mr. Kelleher. Can I just start by asking in relation to what you both have said was an unsustainable level of construction ... and just to recap on some of the figures in 2006, about 270,000 direct jobs, construction accounted for over 25% of GNP, stamp duty receipts were €3.7 billion, which were 8% of total tax and 93,000 houses...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Can I ask if CIF took a view on the extent to which a relatively small number of builders and developers became so large and accounted for a massive proportion of overall bank borrowings? Was that underpinned by CIF's strategy? Was it to help to develop some very large players in the market? Was that your plan and your strategy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: In response to Deputy Murphy, Mr. Parlon, you explained the membership fee structure, that it's based on turnover. Is that the case in ... across all classes of membership?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Irrespective of size?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Even during the boom years?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Yes, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: And what other sources of income would the CIF have apart from membership fees?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: What percentage of your overall income would be derived from membership fees?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Okay. And during the mid-2000s, when a lot of the builders were very successful, had huge businesses, what would have been the largest membership fee-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: -----for the CIF, approximately?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: And that would have been based on turnover?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Sure, okay. And, in terms of the basis for that, it would be an accountant's letter or would it be the actual accounts would be provided to the CIF?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: And, at the peak, how many firms, roughly, would have been paying in the region of €25,000, €30,000?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Sure. And in any sense were you very dependent on that income as an organisation or did you have a good spread overall in terms of your revenue base?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Yes, were you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: -----very dependent on the revenue from the largest members?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Okay. Mr Parlon, you spoke about NAMA in your opening remarks and you used the term a while ago that they've done a very good job, in terms of the role that they have and the mandate that they have. Does that represent a change in thinking from CIF?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Sure. But overall now, given the experience that you've had over the last five or six years, do you think that it was the right model to take all of the good and bad loans, property-related loans, out of the banking system or do you believe it would have been better to leave them in the banks and let the banks work them out with the debtors?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Michael McGrath: Yes?