Results 21,381-21,400 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (14 Dec 2017)

Paschal Donohoe: The ISIF have informed me that the Activate Capital is a €500 million fund, which is financed through a €325 million loan note from the Ireland Strategic Investment Fund (ISIF) and a €175 million loan note provided from KKR.  It became operational in January 2016 with funding provided by Activate for 3,600 houses as at September 2017. As...

Written Answers — Department of Finance: Tax Data (14 Dec 2017)

Paschal Donohoe: The positionis that at end-November 2017, cumulative income tax receipts of €18,283 million were marginally down 1.4 per cent or €251 million against profile.This represents strong annual growth of 4.2 per cent or €738 million. Furthermore, it is also worth pointing out that there were significant one-off income tax payments in the comparable period last year,...

Written Answers — Department of Finance: Knowledge Development Box (14 Dec 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners, that the Knowledge Development Box (KDB) only applies for accounting periods commencing on or after 1 January 2016. The claimant company has a period of up to 24 months to make a claim for relief under the KDB. A small number of companies (less than 10) whose accounting periods ended on or before 31 December 2016 have...

Written Answers — Department of Finance: NAMA Portfolio (14 Dec 2017)

Paschal Donohoe: I propose to take Questions Nos. 92 and 126 together. I wish to advise the Deputy that there has been no change to NAMA’s expectation that it will complete its work by 2020. The Agency announced in October that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State. However, notwithstanding the successful achievement of this primary and...

Written Answers — Department of Finance: EU Budget Contribution (14 Dec 2017)

Paschal Donohoe: As the Deputy will be aware, negotiations are currently on-going. Therefore, as you can appreciate, it would not be appropriate for me to discuss those negotiations in detail at this point. Ireland wants a financial settlement reached in a fair and transparent manner on the basis of an agreed, objective methodology, that enables a positive future relationship between the EU and the UK...

Written Answers — Department of Finance: EU Budget Contribution (14 Dec 2017)

Paschal Donohoe: As the Deputy will be aware and as outlined in the table, Ireland became a net contributor to the EU budget in 2014. EU budget payments and public sector receipt data are published annually by the Department of Finance in the Budget Statistics publication. The public sector receipt measure captures funds under 'shared management' between national and EU authorities. In addition, the EU...

Written Answers — Department of Finance: IBRC Expenditure (14 Dec 2017)

Paschal Donohoe: A summary of the Special Liquidation fees, including legal fees to 31 December 2016 is available in the most recent progress update report which is available on the Department of Finance website The Special Liquidators do not believe that it would be appropriate to provide the requested details regarding all Counsel engagements by IBRC since their appointment, particularly given...

Written Answers — Department of Finance: Banking Sector Data (14 Dec 2017)

Paschal Donohoe: I am informed by the Central Bank that it has set targets for the banks to achieve in terms of issuance of €10, €20 and €50 notes from non-retailer ATMs by 2018, with a view to making lower denomination notes more available to cash users. These targets were calculated following a study of the requirements of consumers, given patterns of cash usage.  The targets...

Written Answers — Department of Finance: Mortgage Data (14 Dec 2017)

Paschal Donohoe: I am informed by the Central Bank that under the category of Non-Bank Entities unregulated loan owners, there are 11,894 mortgage accounts outstanding for PDH with a balance of €2.2bn. For BTLs, there are 5,729 mortgage accounts outstanding with a balance of €1.58bn. The link to The Statistical Release for Residential Mortgage Arrears and Repossessions Statistics: Q2 2017 is...

Written Answers — Department of Finance: Small and Medium Enterprises Data (14 Dec 2017)

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 () which provides details of...

Written Answers — Department of Finance: Mortality Data (14 Dec 2017)

Paschal Donohoe: I am informed by the Central Bank that there is no such regulated category as ‘sub-prime lender’.  Retail Credit Firms are authorised to provide credit, in the form of cash loans, directly to individuals (these firms are not licensed to accept deposits).  Some firms authorised in this category are mortgage lenders.  Retail Credit Firms have been subject to...

Written Answers — Department of Finance: Central Bank of Ireland Data (14 Dec 2017)

Paschal Donohoe: I have been informed by the Central Bank that it does not maintain a record of the number of commercial loans sold on by the original underwriter. Portfolio sales are considered as part of normal supervisory engagement where they are sufficiently material.  Typically with an asset loan sale, in circumstances where there are permissible contractual terms which allow the sale of...

Written Answers — Department of Finance: Credit Register Establishment (14 Dec 2017)

Paschal Donohoe: The Central Bank has advised me that the Central Credit Register (CCR) is being implemented on a phased basis with phase 1 focusing on lending to consumers and phase 2 focusing on moneylenders, local authorities and business lending. The period for data submission by lenders for phase 1 runs from 30 June 2017 to 31 December 2017.  During this period, technical and operational...

Written Answers — Department of Finance: Personal Contract Plans (14 Dec 2017)

Paschal Donohoe: Personal Contract Plans (PCP) are a form of Hire Purchase and both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the provision of hire-purchase agreements. The CCPC is responsible under the Consumer Credit Act 1995, for the authorisation of credit intermediaries, some of whom may...

Written Answers — Department of Finance: Financial Services Regulation (14 Dec 2017)

Paschal Donohoe: As the Deputy is aware, anyone wishing to engage in the business of moneylending requires a licence from the Central Bank in accordance with the Consumer Credit Act 1995 and this licence must be renewed every year. Consumers of licensed moneylenders are protected by a range of provisions that moneylenders must adhere to, including but not limited to, the Consumer Protection Code for...

Written Answers — Department of Finance: Legislative Programme (14 Dec 2017)

Paschal Donohoe: At this point I have no plans for a second Finance Bill as part of the Budget 2018 process.

Written Answers — Department of Finance: Revenue Commissioners Data (14 Dec 2017)

Paschal Donohoe: I am advised by Revenue that it reports on the tax debt as at 31 March each year. On 31 March 2017 the total outstanding debt was €1,944m. However, this figure included €1,105m of debt under appeal to the Tax Appeals Commission and €83m of insolvency debt.  The remaining €756m is regarded as a more accurate indicator of the actual debt that was available to...

Written Answers — Department of Finance: Central Bank of Ireland Staff (14 Dec 2017)

Paschal Donohoe: It was not possible for the Central Bank of Ireland to provide the information sought in the time available and, therefore, I will make arrangements to provide the information in line with Standing Orders.

Written Answers — Department of Finance: Small and Medium Enterprises Debt (14 Dec 2017)

Paschal Donohoe: I have been informed by the Central Bank that as set out in the Business Credit and Deposits statistical Table A.14.1, available on the website of the Central Bank, the level of outstanding SME debt as at end-Q2 2017 is €27,504 million. The latest data on the share of outstanding SME loan balances in default (i.e. default rate) across the main economic sectors, and across...

Written Answers — Department of Finance: Central Bank of Ireland Data (14 Dec 2017)

Paschal Donohoe: The Central Bank of Ireland has imposed fines greater than €100,000 on a number of regulated financial service providers over the past three years. T here were four such fines in 2015, seven in 2016, and five in 2017 to date. T hese are detailed in the following table provided by the Central Bank: Financial Institution Year Fine 1 Intesa Sanpaolo Life dac 2017...