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McGrath, Michael

Tuesday, 2 July 2013

Dáil Éireann Debate
Vol. Nbr.


Parliamentary Inquiries

Asked the Minister for Finance: his views on whether a comprehensive inquiry into the banking collapse in Ireland is required; the form he believes such an inquiry should take; when he believes that inquiry will commence; and if ...More Button

Parliamentary Inquiries (Continued)

I thank the Minister for his reply. All of us in this House have an obligation to channel the understandable anger of the Irish people from the revelations over the past week into something positi...More Button

That is a key weakness. It is one of the reasons why a political banking inquiry will not ultimately be successful. Even at this late stage, I am calling on the Minister for Finance to reconsider...More Button

We will very much contribute to that process but the reality is that the House is controlled by the Executive and therefore the terms of reference will, in essence, be decided by the Cabinet. Let ...More Button

Mortgage Arrears Proposals

Asked the Minister for Finance: his views on the negligible number of split mortgage arrangements in place to deal with distressed borrowers at the end of March 2013; if he has sought assurances that the banks are putting in plac...More Button

Mortgage Arrears Proposals (Continued)

I thank the Minister for his reply. I believe that with all the focus in the last week or so understandably having been on the Anglo tapes, the revised code of conduct and the latest mortgage arre...More Button

The Minister's reply refers to the reporting arrangements. Will Members receive information at the end of each of the those milestones, namely, the 20% and 30% targets, as to what is being offer...More Button

At present, the evidence on the ground is that the banks are becoming more aggressive. They are being armed with more and more tools by the Central Bank and the Government.More Button

Will Members get information on the sustainable solutions that are being offered?More Button

We need the breakdown in aggregate form of the 25,000 sustainable solution offers the Minister said have been made. Under the definition provided in the mortgage arrears resolution targets it is u...More Button

Progress in this area must be accelerated. We need more data. I hope the Minister's plan works but I have my doubts. I would rather that an independent office had the final say in determining ...More Button

Strategic Investment Fund Management

This is potentially a very positive development and I have a few questions on it. I assume the principle of retaining the NPRF remains and the Government will continue to have non-discretionary po...More Button

Will the Minister give us a sense of the governance arrangements that will apply to the Ireland strategic investment fund? Who will make the investment decisions? Will the Minister or the Gover...More Button

Will the Minister clarify my first question? Will the NPRF be retained into the future and is the principle of providing for the long-term pension liabilities of the State still being subscribed t...More Button

Strategic Investment Fund Management (Continued)

The Minister says that the ISIF will decide on which projects can proceed on a commercial basis but, in practice, who will that be? Will there be a separate board of the ISIF sitting within the NT...More Button

Economic Growth Initiatives (Continued)

As the Minister indicated there were successes during the six-month Presidency, in particular with regard to his stewardship of ECOFIN and he is to be commended on this. Although there are issues ...More Button

The question I tabled is particularly relevant in the context of the very weak economic data we had last week. Unfortunately the country is back in recession, ostensibly because of weakening ext...More Button

The Minister referred to the country-specific recommendations from the European semester and gave some examples of issues relating to Ireland such as credit, regulation and the role of the Europe...More Button

The lack of co-ordination of fiscal and economic policy throughout Europe has resulted in the scenario we are dealing with now whereby external economic demand, in particular among our main tradi...More Button

I thank the Minister for his reply. There is a job of work to be done in marketing the potential role of the European Investment Bank in Ireland, particularly with SMEs. In my experience, SMEs' l...More Button

Banking Sector Remuneration

I thank the Minister for his reply. We had an exchange on this matter during our last session of finance questions. I am not naive enough to believe that there would not be pain for all bank empl...More Button

I sought this commitment from the Minister previously. He has used some of the terms that arose during our previous exchange. For example, he stated that he was neither neutral nor prescriptive...More Button

Will the Minister insist that middle and senior ranking executives lead by example - the Taoiseach gave this commitment in the House some months ago - and that the impact of the reduction in the ...More Button

Tax Code

Asked the Minister for Finance: the steps he is taking to ensure that the nature of Ireland’s corporation tax regime is not misrepresented internationally; and if he will make a statement on the matter.More Button

Bank Guarantee Scheme Bond Repayments

Asked the Minister for Finance: the losses imposed on subordinated bondholders in covered institutions from liability management exercises in each year since 2008; the number of legal actions currently under way against the State...More Button