Results 46,001-46,020 of 49,836 for speaker:Stephen Donnelly

Pension Equality and Fairness: Motion (Resumed) [Private Members] (7 Dec 2016)

Stephen Donnelly: I welcome the motion and recognise the work of Deputy John Brady in bringing it before the House. I will certainly support it. The State pension system is clearly broken and lacks transparency. Departmental officials are now not allowed to tell people coming up to pension age what pension they are likely to get from the State. It also lacks fairness as some people might work for ten years...

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I thank the delegation for its time. Last year, the convergence margin was applied because it was deemed Ireland had not hit one of its targets for budgetary correction. The economic logic was that the economy was overheating and, therefore, one cannot buck all of the real correction and one has to overcorrect. Due to the fact that logic was applied, we missed our target which meant a...

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I have a follow up question but Mr. Martínez Mongay does not need to explain why. Does Mr. Martínez Mongay stand over the view of the Commission that the Irish economy is currently overheating?

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: The witnesses have identified Ireland's debt level and in that context, I am very interested in the question posed by the Chairman. I am not sure it was answered in terms of whether any EU country is actually paying down debt. The answer given related to ratios. I am interested in finding out if any country is actually reducing the euro amount of debt. One element of Ireland's debt is...

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I appreciate that.

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: Does Mr. Martínez Mongay believe, as the Commission's DG for European economies, that as part of Ireland's economic management of our debt we should pursue this?

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I think the Chairman asked a different question, that is, whether any country is reducing its total quantum of debt?

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I appreciate that Mr. Martínez Mongay will not comment on the promissory notes but I wish to comment on the point he has just made, after which I will move on to my final question. Mr. Martínez Mongay holds a very senior position within the Commission and now that we have moved to the European semester, he and his team have an influence on our budget. With respect, if he comes...

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I understand that but, with respect-----

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I will put it again. Mr. Martínez Mongay has stated categorically to the committee that we should use windfall taxes to pay down debt. This has nothing to do with a ratio; this is about a total quantum of debt owed. The Chairman asked whether any other country in Europe is doing this, and my understanding of Mr. Martínez Mongay's answer is that he does not know.

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I understand that. I am making the simple point that the recommendation to do this is a very big call to make because we are in the middle of a housing crisis, a homelessness crisis and a child poverty crisis and we are still recovering. Therefore, all I am saying is that before Mr. Martínez Mongay comes to Ireland and states that we should potentially use several billion euro to pay...

Committee on Budgetary Oversight: EU Directorate-General Economic and Financial Affairs: Discussion (6 Dec 2016)

Stephen Donnelly: I have a final question. There is an apparent contradiction in the advice given. I ask the witnesses to provide some advice in this regard. On one hand, Mr. Martinez-Mongay states that Ireland should not expand fiscally, while, on the other, he has identified major investment shortcomings in research and development, transport, housing, general capital infrastructure and so forth, a point...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Economic Impact of Brexit: Discussion (Resumed) (6 Dec 2016)

Stephen Donnelly: I apologise to the two Ministers for only arriving now. I welcome them both to the committee. I apologise if the two issues I wish to raise have already been covered and if they have, we can move on. I would like to get Mr. Ó Muilleoir's thoughts on tax. A substantial amount of the tax base in Ireland has been eroded and commercial property here has become more or less tax free for...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Economic Impact of Brexit: Discussion (Resumed) (6 Dec 2016)

Stephen Donnelly: My sense is that the combination of a more protectionist US coupled with Brexit is accelerating tax competition and that, potentially, it will go lower and lower.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Economic Impact of Brexit: Discussion (Resumed) (6 Dec 2016)

Stephen Donnelly: The vulture funds typically pay an amount of €250, and in this case the tax was nearly £1,600, but the intention is that they do not pay any tax. The vulture funds are a legal mechanism whereby the vulture fund company makes a national payment to signal it has closed off its tax books, and in this case the company paid that amount of tax on the taxable profits of £168...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Economic Impact of Brexit: Discussion (Resumed) (6 Dec 2016)

Stephen Donnelly: Is the plan a step reduction or will there be a trending towards that rate?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Economic Impact of Brexit: Discussion (Resumed) (6 Dec 2016)

Stephen Donnelly: I wish to ask Mr. Ó Muilleor a hypothetical question and I would be interested to get his view on this matter. One way to stabilise or to derisk trade between the UK and the rest of the EU would be to peg sterling to the euro at some percentage or within a floating band. There are various ways to derisk it, some of which have worked quite well and some of which have not. I appreciate,...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Economic Impact of Brexit: Discussion (Resumed) (6 Dec 2016)

Stephen Donnelly: I thank Mr. Ó Muilleoir for that.

Written Answers — Department of Education and Skills: Schools Building Projects Status (6 Dec 2016)

Stephen Donnelly: 130. To ask the Minister for Education and Skills the status of a new school building (details supplied); the timeframe for the completion of the school; the timeframe by stage and date; if barriers to the completion of the project within this timeframe have been identified to date; the nature of these barriers; and if he will make a statement on the matter. [38350/16]

Written Answers — Department of Education and Skills: Schools Building Projects Status (6 Dec 2016)

Stephen Donnelly: 131. To ask the Minister for Education and Skills the status of an acquisition of land for a new school (details supplied); and if he will make a statement on the matter. [38351/16]