Results 41-60 of 454 for nama speaker:Pearse Doherty

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)

Pearse Doherty: ...to listen to CBRE property consultants. They have insight into the current position of commercial property. They say the figures for the past three years have been inflated by the sale of assets by NAMA and the banks, which has generated an unusually large number of high value transactions. Obviously, one can take it that such transactions will not continue into the future. In...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Pearse Doherty: ...case of saying that we were right and the Government was wrong; this has caused damage at this point. There are properties that could have been sold in bloc format, the way properties were sold by NAMA to investors, that have not been sold. This is because it was more beneficial for them to hold on and avail of the five-year CGT exemption. Those properties are in this city. This is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Pearse Doherty: If an investor bought parcels of the land that NAMA disposed of in 2013, then five years will not have elapsed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Pearse Doherty: ...year the Government is incentivising a cohort of investors who invested during the period 2013 to 2014 to continue to hoard residential properties and apartment blocks and units that were bought by NAMA. I refer to the conversation that was in the reply to the freedom of information request.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Pearse Doherty: The properties were bought by NAMA at knock-down prices.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Pearse Doherty: Yes, I apologise, from NAMA. The properties are not being sold off because the companies will benefit from the CGT exemption after five years. I am also referring to individuals who bought, from NAMA, land that is currently undeveloped. The individuals will not develop or sell on the land because to hold on to it, at this point in time, is more financially beneficial to them.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Pearse Doherty: Let us suppose a fund bought massive amounts of land from NAMA during January 2013. Can the Minister of State at the Department of Finance explain why it would decide to dispose of that land now, when the Government is indicating, through the Finance Bill, that if it holds on to the land for another 12 months, it will not pay the 20% dividend withholding tax on the gains relating to it?...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Pearse Doherty: ...of State has said we needed the funds and all the rest and nobody knew what way it was going to go. He should read any academic analysis of the situation such as that of Morgan Kelly or the NAMA report that led to its establishment and which foresaw property prices getting back to a sustainable level within ten years. That was all well signalled and the funds knew that. We can argue...

Finance Bill 2017: Second Stage (24 Oct 2017)

Pearse Doherty: ...year CGT rule that is really clogging up the markets. If we look at the basis for Fianna Fáil arguing for ending the seven-year CGT rule in respect of all properties, not just land, we can see that it talked about the NAMA internal memo but that memo shows that only 20% of the land the agency sold was in the timeframe eligible for the exemption. The other 80% fell outside the...

Financial Resolution No. 3: Intangible Assets (10 Oct 2017)

Pearse Doherty: ...Fáil knows that as well, but because of a different measure that this Government introduced last year in the Finance Bill, facilitated by Fianna Fáil, and that is the five-year exemption from CGT. We have heard a lot about NAMA, for example, and the document that was released through a freedom of information request about the 50,000 units that could be built on NAMA lands....

Financial Resolutions 2018 - Budget Statement 2018 (10 Oct 2017)

Pearse Doherty: ..., the target announced for next year is 5,900 units. Only €26 million for repair and lease is a low level of investment in securing access to vacant properties. There should be ten times this investment in repair and lease to deliver units. Only €25 million has been allocated for the local investment housing activation fund with no guarantee that any of these units will be...

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: 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: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: ...Chairman has put the legislation before the Ceann Comhairle in order to introduce it. What is proposed in this legislation is something for which Sinn Féin has been calling for many years. When NAMA was established, we called for a NAMA for the wee guy. I would call this a NAMA for the wee guy. It is a co-op supported by the State that would purchase the loans from the banks and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: The NAMA scenario is very similar to what is being proposed here. The only difference is that in terms of the issuance of bonds, they were State-backed bonds. I was interested to see if they would be State-backed or not.

Commission of Investigation (National Asset Management Agency) Order 2017: Motion (23 May 2017)

Pearse Doherty: ...investigation and could potentially undermine prosecutions." I welcome that Fianna Fáil has changed its position on the question and that it supports the commission of investigation, as we do. We have suggested, as has Deputy Wallace in this instance, that the IBRC model would be the most appropriate way in which to investigate the matter. There has been needless delay in respect...

Committee on Budgetary Oversight: Engagement on Overall Fiscal Position: Discussion (5 Apr 2017)

Pearse Doherty: We saw in the NAMA reports last year that it made a preliminary tax payment to Revenue in the region of €158 million for the profits accrued from 6 September, the kick-in date for the changes to section 110 and qualified investor funds that were introduced in budget 2017. That profit covers three months and would have been accounted for in last year's tax receipts. Do we have any...

Committee on Budgetary Oversight: Engagement on Overall Fiscal Position: Discussion (5 Apr 2017)

Pearse Doherty: One of the big fears is that people and behaviours will change. The question is whether NAMA has indicated that it is going to change its behaviour? If one was to project NAMA's payment over the full year - and it did not pay over the full year because the changes only kicked in on 6 September - it would have had to pay around €600 million in tax to the State. It may have to do that...

Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2017: First Stage (5 Apr 2017)

Pearse Doherty: ...we need to do far more to clip the vultures' wings. The Minister needs to take direct and immediate action based on the powers he has. He needs to direct the banks, in which we have major shareholdings, and NAMA to stop selling to the vultures - no ifs or buts. He should also act immediately to close down the remaining tax loopholes, such as the CGT exemption that is still open to the...

Priority Questions: Commissions of Investigation (4 Apr 2017)

Pearse Doherty: I thank the Minister. I take it from his contribution that there will be a commission of investigation into NAMA and the sale of Project Eagle. The Minister will be aware that six months ago Sinn Féin provided terms of reference and will engage with the Taoiseach regarding ensuring the terms of reference are robust enough. At a meeting at which I represented the party, we made the...