Results 20,061-20,080 of 32,999 for speaker:Paschal Donohoe

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: I have not had an opportunity to respond.

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: No. If the Acting Chairman-----

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: The Acting Chairman should manage the contributions of other speakers. Deputy Doherty has put a set of questions to me; I must respond.

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: I should not be penalised-----

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: -----for the Deputy's ability to go on. Of course, the reason Deputy Doherty makes such a statement is to deny me the opportunity to respond. I ask the Acting Chairman to allow me to respond.

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: In what Deputy Doherty has outlined regarding our selling shares within AIB, of course what he has not acknowledged is that when we did sell a large share within AIB, we used the proceeds of that sale to reduce the borrowing the Irish taxpayer had to make to bail out those banks in the first instance. Deputy Doherty was among the most ardent of critics of the Irish taxpayer taking on more...

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: -----for all of that. I have given a commitment-----

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: Again, I understand why the Deputy wants to shout me down. If I lay out any argument that is different from what he is putting forward, the only option open to him is to shout down the argument I am making. As he knows, I made a commitment in the Finance Bill to outline in greater detail what would be the consequences of such a course of action being pursued, and I will do that. My guiding...

Ceisteanna - Questions (Resumed) - Priority Questions: Mortgage Resolution Processes (27 Mar 2018)

Paschal Donohoe: I also want to begin my answer by providing some context to this question. During the height of the financial crisis, a key focus of the authorities was on stabilising and ultimately reducing mortgage arrears through the implementation of sustainable mortgage solutions that were agreed with borrowers. This led to the Central Bank of Ireland introducing public mortgage arrears resolution...

Ceisteanna - Questions (Resumed) - Priority Questions: Mortgage Resolution Processes (27 Mar 2018)

Paschal Donohoe: As I have said since this issue developed, I absolutely understand the concerns that all loan owners have in respect of this matter. I particularly understand the concerns of loan owners who restructured their mortgages or debts and who have met the terms of those restructured loans. I have outlined to the Deputy the action which I and my Department have taken on this matter to date in...

Ceisteanna - Questions (Resumed) - Priority Questions: Mortgage Resolution Processes (27 Mar 2018)

Paschal Donohoe: To emphasise again, I understand completely the anxiety that loan owners feel in respect of the possibility for loan sales and the classification of debts. I have also noted what has been said publicly about this matter, the answers which have been given to Members of the European Parliament by the SSM, and other debate which has ensued on this matter. To reiterate, as I have outlined in the...

Written Answers — Department of Finance: Financial Services Regulation (27 Mar 2018)

Paschal Donohoe: As the Deputy will be aware, within the remit of the Central Bank’s responsibilities for safeguarding stability and protecting consumers, its approach to mortgage arrears resolution is focused on ensuring the fair treatment of borrowers through a strong consumer protection framework and ensuring that lenders have appropriate arrears resolution strategies and operations in place. ...

Written Answers — Department of Finance: Mortgage Resolution Processes (27 Mar 2018)

Paschal Donohoe: The Central Bank’s Tracker Examination is focused on ensuring that lenders provide fair outcomes for all customers impacted by tracker related failings. As part of the Examination framework, where customer detriment has been identified, the Central Bank has clearly articulated its expectations of lenders to provide appropriate redress and compensation to impacted customers in line...

Written Answers — Department of Finance: Credit Unions (27 Mar 2018)

Paschal Donohoe: The Government has a clear policy to support the strategic growth and development of credit unions delivering the comprehensive recommendations set out in the Commission on Credit Unions Report and the Credit Union Advisory Committee (CUAC) report in 2016, both of which involved extensive stakeholder engagement. CUAC remains an important advisor to me on strategic issues...

Written Answers — Department of Finance: Central Bank of Ireland Data (27 Mar 2018)

Paschal Donohoe: I have been informed by the Central Bank that it does not routinely publish specific data on entities who are not regulated by the Central Bank and it is therefore not possible to provide the numbers requested by the Deputy. I would however refer the Deputy to the Report on Mortgage Arrears which the Central Bank provided to the Minister for Finance in June 2016. The report is available...

Written Answers — Department of Finance: NAMA Portfolio Value (27 Mar 2018)

Paschal Donohoe: NAMA was established in December 2009 and its debts of nearly €32 billion represented a substantial contingent liability to the State. The State recapitalised the domestic banking system at a gross cost of €64 billion, adding around 40 per cent of GDP to national debt. As a result of this, as well as the mismanagement of the public finances, total government debt now stands...

Written Answers — Department of Finance: Tax Code (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 74 and 121 together. On Wednesday 21 March last the European Commission published detailed proposal for two different Directives on taxation and digitalisation. The proposals have been prepared by the Commission with limited input from Member States and we will need to study them in detail.  The proposals will now be debated, discussed and...

Written Answers — Department of Finance: Banking Sector (27 Mar 2018)

Paschal Donohoe: Loss relief for corporation tax is a long standing feature of the Irish Corporate Tax system and is a standard feature of all other OECD corporate tax systems.  It allows for losses incurred in the course of business to be accounted for when calculating a business’ tax liabilities. Section 396C of the TCA 1997 previously restricted losses for NAMA participating...

Written Answers — Department of Finance: Project Ireland 2040 (27 Mar 2018)

Paschal Donohoe: As part of Budget 2018, my Department forecast real GDP growth of 3.5 per cent this year. The labour market should benefit from this, with employment growth of 2.3 per cent expected this year. Strong employment growth is set to further reduce the unemployment rate, to around 5 ½ per cent by the end of this year. Recent economic indicators have generally been positive and are...

Written Answers — Department of Finance: Social and Affordable Housing Provision (27 Mar 2018)

Paschal Donohoe: As announced in my Budget speech on 10 October 2017, Home Building Finance Ireland (HBFI) is to be established to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty in obtaining debt funding.  Up to €750 million of ISIF funds will be allocated to HBFI to provide funding on market terms and the fund is estimated to...