Results 6,061-6,080 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Financial Services (22 Feb 2022)

Paschal Donohoe: As the Deputy is aware, the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of her statutory functions and I have no role in the day to day workings of the office or in the decisions which she takes. The FSPO has informed me that in accordance with the Financial Services and Pensions Ombudsman Act 2017 (‘the Act’), the Financial...

Written Answers — Department of Finance: Financial Services (22 Feb 2022)

Paschal Donohoe: As the Deputy is aware, the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of her statutory functions and I have no role in the day to day workings of the office or in the decisions which she takes. In December 2018, the FSPO submitted a Workforce Plan 2019-2023 to me and I approved the recruitment of an additional 35 staff. This basis...

Written Answers — Department of Finance: Financial Services (22 Feb 2022)

Paschal Donohoe: As the Deputy is aware, the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of her statutory functions and I have no role in the day to day workings of the office or in the decisions which she takes. As the FSPO is a statutory complaints handling body its functions require the ongoing provision of legal services. The FSPO has informed me that...

Written Answers — Department of Finance: Revenue Commissioners (22 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 268 and 274 together. I am advised by Revenue that its public offices, excluding ports, airports and trade facilitation stations remain closed until further notice. Throughout the pandemic, Revenue has continued to provide a full range of online services for taxpayers to manage their tax affairs, which for the most part removes any requirement to...

Written Answers — Department of Finance: Covid-19 Pandemic Unemployment Payment (22 Feb 2022)

Paschal Donohoe: Revenue is independent in the exercise of its functions. However, I have been advised by it as follows: Revenue's process for taxing DSP payments, including the Pandemic Unemployment Payment (PUP) seeks to cater for the different scenarios that can arise across the PAYE case base. Following significant consideration by Revenue, the basis of taxation adopted aims, as...

Written Answers — Department of Finance: Public Services Provision (22 Feb 2022)

Paschal Donohoe: I wish to inform the Deputy that my Department has not won any award from Public Sector Magazine.

Written Answers — Department of Finance: Tax Code (22 Feb 2022)

Paschal Donohoe: As the Deputy will be aware, the EU Commission published a proposal on the reform of VAT rates in January 2018 which would allow Member States more flexibility in how they apply VAT rates. The compromise text agreed at ECOFIN in December last year has been amended significantly in comparison to the original proposal. As agreed at ECOFIN, the proposal amends category 10a of Annex III...

Written Answers — Department of Finance: Departmental Communications (22 Feb 2022)

Paschal Donohoe: I would like to advise the Deputy that I do not use the WhatsApp application to conduct Government or official communications. I can confirm that I do use the ‘disappearing messages’ setting in a limited capacity on my phone.

Written Answers — Department of Finance: Pension Provisions (22 Feb 2022)

Paschal Donohoe: In terms of the tax treatment of supplementary pensions, Ireland operates an Exempt, Exempt, Tax (EET) system. This is a similar system to that operated in the majority of OECD countries and means that contributions to pensions are exempted from income tax (subject to age-related percentage and income limitations), pension fund gains are exempted from income tax but income from...

Written Answers — Department of Finance: Tax Code (22 Feb 2022)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply.  Under the EU VAT Directive and Irish VAT legislation the supply of building materials is liable to VAT at the standard rate, currently 23%.  Member states are not permitted to apply a VAT rate lower than the standard rate to...

Written Answers — Department of Finance: Banking Sector (22 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 276, 277 and 280 together. As Minister for Finance I cannot determine the lending policies of individual banks, including where they decide to offer residential mortgages and the interest rates they charge for such loans.  However, it should be noted that any bank authorised in an EU Member State is permitted to offer mortgages to Irish consumers if...

Written Answers — Department of Finance: Inflation Rate (22 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 278, 279, 283 and 284 together. At both the ECOFIN and Eurogroup meetings, my fellow Ministers and I work alongside the European Commission and the European Central Bank to take stock of the latest economic situation, including inflation developments throughout the EU. The latest Eurostat estimates point to euro area annual inflation of 5.1 per cent in...

Written Answers — Department of Finance: House Prices (22 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 281 and 282 together. My Department continues to monitor all aspects of the property market, including the rate of property price inflation, on an ongoing basis. According to the most recent figures released by the Central Statistics Office, the national Residential Property Price Index increased by 14.4 per cent in the year to December 2021. The...

Written Answers — Department of Finance: Inflation Rate (22 Feb 2022)

Paschal Donohoe: Consumer price inflation picked up sharply over the second half of last year and by December was running at a multi-decade high of 5.7 per cent. While the annual rate of inflation moderated to 5 per cent in January, this reflects seasonal patterns, including post-Christmas sales rather than an easing of inflation more generally. Almost every advanced country in the world is in the same...

Written Answers — Department of Finance: Insurance Industry (22 Feb 2022)

Paschal Donohoe: It is my understanding that it is difficult to obtain reliable data to compare the cost of insurance here to that in other European jurisdictions. I am informed that international organisations, such as the OECD and Eurostat, do not publish comparative data on the cost of insurance between countries. Eurostat publishes Harmonised Index of Consumer Prices (HICP) data with regard to insurance,...

Written Answers — Department of Finance: Financial Services (22 Feb 2022)

Paschal Donohoe: Over the past few years, my Department has worked closely with the Central Bank of Ireland and the National Treasury Management Agency (NTMA) to limit the impact of key identified risks in the Irish financial system and to ensure that the sector was adequately prepared for the possible effects of Brexit. My Department, the Central Bank and the NTMA continue to monitor developments and...

Written Answers — Department of Finance: Economic Policy (22 Feb 2022)

Paschal Donohoe: Ireland’s economic recovery has been remarkable. The most recent data for modified domestic demand – the best measure of domestic economic activity – showed continued growth, with domestic activity surpassing its pre-pandemic level. While the domestic economy is rapidly bouncing back, external trade has bolstered the Irish economy throughout the crisis. The exports of...

Written Answers — Department of Finance: Foreign Direct Investment (22 Feb 2022)

Paschal Donohoe: The Covid-19 crisis presented an unprecedented challenge to businesses around the world, as well as to the domestic economy. Ireland’s economic recovery has been remarkable, and both the domestic economy and our external environment have improved markedly since the onset of the pandemic. Over the course of the crisis, Ireland’s FDI base has shown incredible resilience....

Written Answers — Department of Finance: Fiscal Policy (22 Feb 2022)

Paschal Donohoe: As the Deputy is aware, fiscal policy operates at many levels, but the Government’s over-arching budgetary policy aims to pursue a counter-cyclical strategy, in order to support both economic growth and stability. Reflecting this approach, the Government allowed public indebtedness to rise over the last two years in order to mitigate the economic fallout of the pandemic. This was the...

Written Answers — Department of Finance: Brexit Issues (22 Feb 2022)

Paschal Donohoe: My colleagues across the European Union and I remain alert to the challenges and the potential economic impacts arising from Brexit. As one of the most affected Member States, I pay particular attention to the effective implementation of the EU-UK Trade and Cooperation Agreement (TCA) and to the Withdrawal Agreement, which includes the Protocol on Ireland and Northern Ireland. Across the EU,...