Results 321-340 of 1,024,483 for in 'Dáil debates' OR in 'Committee meetings' (speaker:Seán Ó Fearghaíl OR speaker:Maurice Quinlivan)

Ceisteanna Eile - Other Questions: Inflation Rate (21 May 2024)

Michael McGrath: I propose to take Questions Nos. 70, 90 and 238 together. Inflation reached multidecade highs in 2022, averaging 8.1%, with a peak of 9.6% in June 2022, as measured using the harmonised method of the harmonised index of consumer prices, HICP. While the initial driver of this inflationary pressure was a surge in global energy prices, it subsequently became increasingly broad-based as...

Ceisteanna Eile - Other Questions: Small and Medium Enterprises (21 May 2024)

Pádraig O'Sullivan: As the Minister rightly said, there is probably a lag in the data as well insofar as there are 12 months, and interest rates and such are coming down. As the Minister rightly highlighted, businesses have proven to be resilient in that 82% of them said they had no change or had increased their turnover while 88% were either in profit or had broken even. "Resilience" is the right word to...

Ceisteanna Eile - Other Questions: Small and Medium Enterprises (21 May 2024)

Michael McGrath: The Deputy's question is about interest rates facing SMEs. The changes in the interest rates being paid by SMEs were directly linked to the monetary policy environment, the ten successive interest rate increases we had from the ECB which worked their way through the system, in particular in respect of floating rate charges, variable rate loan products and then when it came to the re-pricing...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Credit Unions

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: 68. To ask the Minister for Finance his engagement to date with credit unions that currently have a savings cap limit of €30,000 to increase this limit; and if he will make a statement on the matter. [22719/24]

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: There is a whole range of people who want to support their local credit union, including clubs and societies and people with savings. A number of them have been raising with me that when they go to draw down a grant to do work on the house, for example, or sports capital funding, they come across this cap on the amount of money they can have in the credit union. Has the Minister of State...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Neale Richmond: I thank the Deputy for his question. However, I was a little bit confused and hope we might have a bit of clarification in our debate. There is a cap of €100,000, not €30,000 as is stated in the Deputy's question, on member savings, as outlined in Central Bank Regulation 35 of the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016. As the Deputy is aware, the...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: The issue has been raised with me by a number of different sources, including older people intending to do works on their own home who would be accessing a county council grant, or sports clubs advancing works on their own grounds. Instead of a bank, they are dealing with a credit union but when they go to draw down the grant there is a cap in force on their credit union account. They...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Neale Richmond: As I stated, the maximum individual member savings limit is €100,000, which is a sizeable amount, particularly for most community groups. With the exception of large-scale sports capital grants, there are very few grants that we----

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: This is about a cap of €30,000.

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Neale Richmond: There is not a cap of €30,000. That is up to the individual credit union. The policy of the Central Bank is €100,000. The reason they have that is to ensure the protection of members' savings and to ensure that credit union funding continues to be sufficiently diversified and is not dependent on a small number of members. The Deputy knows how the credit union works. You...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: Just to clarify, the maximum of €100,000 is not an issue. It is not what is up for discussion. The issue is with far lower caps being imposed on credit union accounts in the region of €30,000. Some local credit unions in Cork are doing that. It would seem it is a more local or ad hoc arrangement. It is not clear on that. I ask the Minister of State to engage with the...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Neale Richmond: The Deputy might write to me with the specific nature of the query and representations being made. That might give me an opportunity to look at the matter in more detail and see what role I can play, cognisant of the independence of the Central Bank and also of the boards of individual credit unions. The most recent data we have is that 70% of credit unions have imposed their own member...

Ceisteanna Eile - Other Questions: Insurance Industry (21 May 2024)

Catherine Connolly: The time is up.

Ceisteanna Eile - Other Questions: Insurance Industry (21 May 2024)

Ruairi Ó Murchú: I am not sure that the clock was-----

Ceisteanna Eile - Other Questions: Insurance Industry (21 May 2024)

Catherine Connolly: I think you have gained considerable advantage from not having the clock.

Ceisteanna Eile - Other Questions: Insurance Industry (21 May 2024)

Ruairi Ó Murchú: I doubt that.

Ceisteanna Eile - Other Questions: Insurance Industry (21 May 2024)

Pádraig O'Sullivan: My question is specifically on public liability. I want to draw the attention of the Minister of State to something which he might raise with the Minister for Education. It is specifically with regard to schools. I am aware of a particular school which typically pays €6,000 or €7,000 public liability insurance per annum. It has received three modular classrooms, which...

Ceisteanna Eile - Other Questions: Insurance Industry (21 May 2024)

Pearse Doherty: One of the problems we consistently have is that the Minister of State continues to be almost a spokesperson for the insurance industry. He did it again. When I asked him whether the insurance industry is taking a hand at the Government he said he was not happy with the rate of decreases. Where are the decreases? This is the problem. Does the Minister of State not know what is happening...

Ceisteanna Eile - Other Questions: Insurance Industry (21 May 2024)

Catherine Connolly: We are way over time.