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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report: Irish Fiscal Advisory Council (3 Dec 2015)

Liam Twomey: We have seen the context to the additional expenditure. It is important that the public knows what the delegates' view is on that matter, whether they consider it to be a red alert or an orange alert. They are saying there has been aggro between themselves and the Government. I do not really see where that aggro has arisen.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report: Irish Fiscal Advisory Council (3 Dec 2015)

Liam Twomey: It seems there has not been any aggro between the Government and the council on this issue. The delegates have a view which we accept.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report: Irish Fiscal Advisory Council (3 Dec 2015)

Liam Twomey: Is the council putting down a marker for the future as much as anything else?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report: Irish Fiscal Advisory Council (3 Dec 2015)

Liam Twomey: We will conclude on that point. On behalf of the joint committee, I thank all the witnesses from the Irish Fiscal Advisory Council for participating and for the material they supplied to the committee. I should also take this opportunity go say goodbye to Dr. O'Sullivan and thank her for her participation in the council over the past four years. As there is no other business, the meeting...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (1 Dec 2015)

Liam Twomey: We are now back in public session.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (1 Dec 2015)

Liam Twomey: Thank you, Minister. I will now take questions from members, beginning with Deputy Michael McGrath.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: We are here to review the credit union sector with the Credit Union Development Association, the Credit Union Managers Association and the Irish League of Credit Unions. I welcome Mr. Kevin Johnson, chief executive officer, and Ms Elaine Larke, from the Credit Union Development Association; Mr. Sean Hosford, chairman, and Ms Lisa Stapleton, from the Credit Union Managers Association; and Mr....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: I thank Mr. Farrell. Before I call on Deputy Michael McGrath to begin proceedings, I presume the witnesses have seen the transcripts of the debate last night on the Private Members' motion in the Dáil. I am aware some of the witnesses already have had meetings with the Minister and his officials. The joint committee intends to prepare a report to be submitted to the Minister and the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: I ask Mr. Hosford to be brief.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: Deputies Marcella Corcoran Kennedy and Arthur Spring are sharing time and can decide how they want to proceed themselves.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: Deputy Arthur Spring's time has concluded.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: Mr. Johnson might send it to the secretariat and we will take it from there.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: The Deputy's time is up. We must move on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: Deputy Boyd Barrett feels like that sometimes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: Is it not part of the regulations that credit unions can apply to keep those funds? The credit unions do not have to ask people to take funds out.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: We can do that, Deputy McGrath.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: We have had a fairly good debate on this and have had two Private Members' motions also. We are down in the bowels of this place and even though we might think we are on TV, nobody is watching. It is the nature of these committee hearings. In the Dáil Chamber the tone is more "Credit unions, good; Government, bad," and there is nothing in between. There are issues here. A report...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: There is also a contingency fund for this sort of thing. Is that not correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: You have obviously repeated this. This is déjà vufor you. You have said this to the regulator. What did the regulator say to you?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)

Liam Twomey: Let us hear a little more on that. You are saying the regulator is not taking into account the future of the credit unions and that the regulator does not understand the business model of the future for credit unions. Is that correct?

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