Results 19,541-19,560 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)

Michael McGrath: The average would be approximately €54,000.

Other Questions: Banking Sector Regulation (1 Apr 2015)

Michael McGrath: It is not. Those are facts.

Other Questions: Banking Sector Regulation (1 Apr 2015)

Michael McGrath: 7. To ask the Minister for Finance when he, in his capacity as Minister for Finance or as a member of the Economic Management Council, last met the State supported banks for an exchange of views on issues affecting the economy, including mortgage arrears, variable interest rates and lending to small and medium enterprises; and if he will make a statement on the matter. [13054/15]

Other Questions: Banking Sector Regulation (1 Apr 2015)

Michael McGrath: The purpose of this question is to ascertain the level of engagement of the Minister for Finance with the banks, in particular with the banks in which the State is a shareholder. We own a number of the banks. We have a minority shareholding in Bank of Ireland. The Minister is a member of the Economic Management Council and it is appropriate that he would engage with the banks regularly on...

Other Questions: Banking Sector Regulation (1 Apr 2015)

Michael McGrath: I respect the fact the Minister does not run the day-to-day business of the banks and that there is a relationship framework in place to provide for that separation. I would expect, however, the Minister and other members of the Government to have regular and ongoing engagement with the banks, in particular the State-supported banks, on the key issues of concern to the people and the...

Other Questions: Banking Sector Regulation (1 Apr 2015)

Michael McGrath: To an extent there is also merit in a hands-on approach. If there is a lack of direct engagement by senior people in the Government, this sends a signal to the banks that the Government endorses their approach and is satisfied with what they are doing in respect of mortgage arrears, interest rates and their role in lending to the economy. The Minister was far from hands-off when it came to...

Ceisteanna - Questions - Priority Questions: Personal Debt (1 Apr 2015)

Michael McGrath: I thank the Minister for his reply. We are all aware of the dramatic increase in the number of people going bankrupt in Ireland. Many people have gone to the UK to become bankrupt. The Minister has put a number of important facts on the record, including that 70% of those who went bankrupt in 2014 have lost, or will lose, their home as part of the bankruptcy process. It is a pretty...

Ceisteanna - Questions - Priority Questions: Personal Debt (1 Apr 2015)

Michael McGrath: As I have said on a number of occasions, I do not believe people in mortgage arrears should have to go bankrupt in order to have their indebtedness dealt with and to have a restructuring of their mortgage agreed. We need to separate both issues - mortgage arrears and the decision whether or not to reduce the bankruptcy discharge period further. People whose main debt is a mortgage on the...

Ceisteanna - Questions - Priority Questions: Personal Debt (1 Apr 2015)

Michael McGrath: 4. To ask the Minister for Finance his views and those of his Department on the proposed reduction in the discharge period from bankruptcy; if his Department is planning to introduce new measures to deal with the issue of mortgage arrears; and if he will make a statement on the matter. [13403/15]

Ceisteanna - Questions - Priority Questions: Personal Debt (1 Apr 2015)

Michael McGrath: I am seeking the views of the Minister and the Department of Finance on the proposed reduction in the discharge period for bankruptcy. As the Minister is aware, this matter has been the subject of much recent discussion in the aftermath of the publication of a Private Members' Bill by Deputy Penrose. While this matter may relate more directly to the Department of Justice and Equality, I...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (1 Apr 2015)

Michael McGrath: 1. To ask the Minister for Finance his views on the standard variable mortgage interest rates banks are charging customers; the difference between rates charged to new and existing customers; the difference between the rates charged here and in other eurozone countries; if he has discussed this matter with the banks; the steps he is taking to bring more competition into the mortgage market,...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (1 Apr 2015)

Michael McGrath: As the Minister is aware, Fianna Fáil has raised a Private Members' motion this week on the issue of excessive standard variable mortgage interest rates and the ability of the Government or the Central Bank to set interest rates. The motion calls on the Minister to use his influence, to express a view and to engage with the financial institutions directly and for the Central Bank to do...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (1 Apr 2015)

Michael McGrath: I thank the Minister for his response, which is quite similar in nature to the response given on the Minister's behalf by the Minister of State, Deputy Harris, last night during the Private Members' debate. The problem I have with the response is that the Minister did exert pressure on the banks back in 2011, in a very public way, when there was an ECB rate reduction and the pillar banks did...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (1 Apr 2015)

Michael McGrath: I welcome the fact the Minister is going to take up the issue directly with the Governor of the Central Bank. I have made it clear that I fully accept that neither the Government nor the Central Bank set interest rates, but they have significant influence. The Minister is in an influential position, as is the Governor of the Central Bank who has a key role in terms of consumer protection....

Written Answers — Department of Finance: Mortgage Arrears Proposals (1 Apr 2015)

Michael McGrath: 20. To ask the Minister for Finance his plans to tackle the deteriorating situation in relation to sub-prime mortgages; and if he will make a statement on the matter. [13052/15]

Written Answers — Department of Finance: Tax Code (1 Apr 2015)

Michael McGrath: 21. To ask the Minister for Finance his views on recent moves at European level towards the introduction of a common consolidated corporate tax base; and if he will make a statement on the matter. [13053/15]

Written Answers — Department of Finance: Stability and Growth Pact (1 Apr 2015)

Michael McGrath: 33. To ask the Minister for Finance his views on the need for flexibility in the application of budgetary rules under the fiscal compact and the two pack; the flexibility he is seeking to negotiate for Ireland; the way these rules will impact on his decision making in budget 2016; and if he will make a statement on the matter. [13050/15]

Written Answers — Department of Finance: Mortgage Arrears Rate (1 Apr 2015)

Michael McGrath: 40. To ask the Minister for Finance his views on the reason the number of persons in long-term mortgage arrears over two years continues to rise; and if he will make a statement on the matter. [13051/15]

Residential Mortgage Interest Rates: Motion [Private Members] (31 Mar 2015)

Michael McGrath: Mortgage interest supplement.

Residential Mortgage Interest Rates: Motion [Private Members] (31 Mar 2015)

Michael McGrath: It is askaboutmoney.com.