Results 6,521-6,540 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Brexit Issues (16 Dec 2021)

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 by Brexit, 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...

Written Answers — Department of Finance: Inflation Rate (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 265 and 271 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 economic recovery throughout this year has been robust, with recent indicators pointing to...

Written Answers — Department of Finance: Economic Policy (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 267 and 268 together. I take it that your questions relate to Ireland joining the 8 October OECD/G20 Inclusive Framework agreement to address tax challenges arising from the digitalisation of the economy. There are two pillars to the OECD agreement. Pillar One will see a reallocation of a proportion of profits to the jurisdiction of the consumer. This...

Written Answers — Department of Finance: Foreign Direct Investment (16 Dec 2021)

Paschal Donohoe: Since the onset of the Covid-19 crisis, businesses have been faced with unprecedented challenges and uncertainty. The latest data from the CSO confirms that following a steep decline at the start of 2021, the domestic economy has subsequently made a rapid recovery. Against the backdrop of the pandemic, inward FDI flows to Ireland still amounted to around one-fifth of GDP in 2020 according...

Written Answers — Department of Finance: Eurozone Issues (16 Dec 2021)

Paschal Donohoe: 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 the challenges facing the European economy. The recovery throughout this year has been robust, with the European economy essentially having regained its pre-pandemic level of output in the third...

Written Answers — Department of Finance: Insurance Industry (16 Dec 2021)

Paschal Donohoe: The Irish insurance sector is diverse, comprising life, non-life and reinsurance firms providing a range of products and operating across a number of geographic markets.  As Minister for Finance, I am responsible for the development of the legal framework governing regulation of this sector.  This framework is mainly governed by the EU Solvency II Directive, which provides for three...

Written Answers — Department of Finance: Mortgage Interest Rates (16 Dec 2021)

Paschal Donohoe: I am aware that the general level of new lending interest rates in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that certain mortgage rates have been falling in Ireland.  For example, the interest rates on new mortgages (excluding renegotiations) have fallen from 4.05% in December 2014 to 2.73% in October...

Written Answers — Department of Finance: Small and Medium Enterprises (16 Dec 2021)

Paschal Donohoe: As Minister for Finance, one of my main concerns is to ensure that SMEs have access to sufficient liquidity, and that access to credit for SMEs is maintained. My Department commissions a survey biannually to monitor SME credit levels which are published on www.Gov.ie. Furthermore, since the onset of COVID-19 restrictions the Government has introduced a range of measures to assist companies...

Written Answers — Department of Finance: Consumer Prices (16 Dec 2021)

Paschal Donohoe: Developments in domestic economic conditions over the pandemic period closely tracked the introduction and relaxation of public health restrictions and are clearly seen in the volatile pattern of consumer spending.  While the relationship between consumer spending and the stringency of restrictions has weakened over time, the two variables remain strongly correlated, with the...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: As the outset the Deputy should note that as per my previous replies, I have no plans to make any changes to the CGT rate in the way suggested by him.. However, he should be aware that all taxes are subject to ongoing review which includes the consideration and assessment of rates along with any associated reliefs and exemptions. Tax policy in relation to CGT is reviewed by the Tax...

Finance Bill 2021: From the Seanad (15 Dec 2021)

Paschal Donohoe: I welcome the support from all who have spoken for the recommendations that have been made to the Dáil this evening. I also welcome colleagues' general support for the EWSS and the very positive role it has played in the preservation of employers and the maintenance of work during such a difficult period of the pandemic in our country. I will say a few words about the various issues...

Finance Bill 2021: From the Seanad (15 Dec 2021)

Paschal Donohoe: The wage subsidy schemes, namely, the employment wage subsidy scheme, EWSS, and its predecessor, the temporary wage subsidy scheme, TWSS, have been a substantial and key part of the Government response to the pandemic. The EWSS has played a central role in supporting businesses, encouraging employment and helping to maintain the link between employers and employees. Since the introduction...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 53, 55 and 58 together. Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the Employment Wage Subsidy Scheme (EWSS) which is an economy-wide enterprise support for eligible businesses. EWSS provides a subsidy to qualifying employers, based on the number of qualifying employees on the payroll. As an...

Written Answers — Department of Finance: Tax Exemptions (15 Dec 2021)

Paschal Donohoe: The position remains as outlined on 20 September 2021 to Deputy Cormac Devlin. Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying health expenses. Section 469 defines "health expenses" as "expenses in respect of the provision of health care including the services of a practitioner". A practitioner is defined in the section as "any person...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Dec 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable...

Written Answers — Department of Finance: Tax Reliefs (15 Dec 2021)

Paschal Donohoe: Trans-Border Workers’ Relief may apply in the case of an individual resident in the State but who commutes to his or her place of work outside the State. This relief is set out in section 825A of the Taxes Consolidation Act (TCA) 1997. The relief effectively removes the foreign employment income from a liability to Irish tax where foreign tax has been paid on that employment income. In...

Written Answers — Department of Finance: Tax Collection (15 Dec 2021)

Paschal Donohoe: The 2021 Climate Action Plan and the Programme for Government set out ambitious commitments for emissions reductions. Road transport is a sector earmarked for radical decarbonisation, and motor vehicle taxation is an important policy lever in achieving these goals. A significant uptake in electric vehicles (EVs) forms a key part of targets on emissions reductions from road transport, and the...

Written Answers — Department of Finance: Departmental Policies (15 Dec 2021)

Paschal Donohoe: The Department of Finance has undertaken a range of initiatives across the various divisions during 2021, many of which were in response to the ongoing Covid-19 pandemic which has had such a disruptive impact on our economy and national finances. Economics From an economic policy perspective, the main achievements and initiatives in 2021 were the Stability Programme Update, the Summer...

Written Answers — Department of Finance: Public Sector Staff (15 Dec 2021)

Paschal Donohoe: I wish to advise the Deputy that my Department funds pre-retirement courses for staff planning their retirement. The goal of this 2-day course is to provide participants with an overview of the wide-ranging changes associated with retirement, as well as advice regarding personal retirement planning. Funding is also provided for a guest or family member to attend this training with the staff...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Dec 2021)

Paschal Donohoe: The Government's response to the Covid-19 pandemic has been swift and robust, with a number of schemes created to support businesses and employees since the start of this pandemic. The Government remains fully committed to supporting businesses, employers and employees insofar as is possible at this time. The objective of the Employment Wage Subsidy Scheme (EWSS) is to support employment...