Results 7,641-7,660 of 32,610 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: That is not a hypothetical question. We are engaged in a really sensitive and important negotiation and process on behalf of our country, and that is not a hypothetical situation in the sense that my answering that is, of course, relevant to the discussions and negotiations that we are having. Our ability to do that will be dependent on the final decision that we make in regard to the OECD...

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: The Commission will be using the powers it currently has in this area. Any decision it makes on the implementation of the OECD agreement has to be consistent with the Single Market and has to be in line with the powers it has under the law of the European Union. It is the way OECD agreements have been implemented in the past and when the BEPS process was implemented, it was implemented via...

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: I will certainly see if that is possible. We do not normally break down the drawdown of capital allowances into what those capital allowances are used for and, therefore, it may not be possible on taxpayer confidentiality grounds to provide the information the Deputy is looking for, but I will certainly ask. The point I would make around data centres is that the reason the Government has...

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: It is not at the point where it is at the Commission yet. What the Tánaiste was doing was just making reference to the OECD statement that already refers to companies that have a level of turnover that is greater than €750 million. That is the current draft text of the OECD agreement.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: The Tánaiste was referring to the OECD text that is there at the moment. If and when we make a decision that we are either going to enter into the OECD agreement or we are not, at that point, I will be able to give full clarity on the question the Deputy is asking me.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: As it stands at the moment, the OECD agreement applies to companies above a certain level. That is it at the moment. What is critical for me is not the text as it stands now, but where it will be later on in the process.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: As it stands now, it only applies to companies above a certain level of turnover, but that is the text at the moment. The key thing is how it develops and what is finally agreed.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: No, I did not. I said “imminently”. I did not give a date for it.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: I do not have one at the moment but I expect the publication to happen soon.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: I am not sure if further assessment of Housing for All is needed. It was the subject of extensive engagement within government. As each constituent element of Housing for all is implemented, it is at that point that an evaluation will take place of the impact it will have. It is difficult to evaluate the plan or do an economic appraisal of the plan in its entirety but, as we take each...

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: I will always listen to the views of Mr. Barnes and the Irish Fiscal Advisory Council, but I still make the case that it is appropriate that we evaluate each element of the plan and we subject that to normal Government procedures. It is a challenge to be able to evaluate in its totality a plan that has so many different elements within it.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: Significant funding is already committed to in the capital plans included in the summer economic statement. I am certain that the Minister, Deputy Ryan, when deciding how that funding will be allocated, will put in place higher levels of funding to lead to the roll-out of the infrastructure that is necessary for more electric cars. I am afraid I do not have the detail related to that.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: We are monitoring it. We believe that our capital markets and banking systems are resilient and able to deal with any contagious effect from the issue that the Chair refers to. It is the case, as can be seen in changes in the pricing of certain commodities and the performance of particular equities, that we live in a deeply interconnected world and changes that take place in the Chinese...

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: I should emphasise that this is the digital gaming sector that the Chair and I are referring to. I have signalled that I am interested in seeing how we can develop it further. I am working on it at present. Looking at the strengths that we have in filmmaking, animation and IT already in Ireland, the digital gaming sector is a part of our creative economy that I believe that we can do even...

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: The Tánaiste is referring to the current OECD agreement and he is correct in making that reference.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: I am engaging with the Commission on this and other matters. I will be in a position to give a full communication on those matters if and when Ireland enters the OECD agreement, if we decide to do so.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: That is an important question that I want to and will answer if we decide to enter into the OECD agreement. At that point, I will give the Deputy such an answer.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: That is the OECD tax agreement that is in place at the moment. The Tánaiste was completely correct in what he said. I will be able to outline how that will be implemented or any Commission engagement that is relevant to it if I decide to recommend that Ireland enter into the agreement.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: That is why I am engaged in a delicate and important negotiation on a critical matter for our country. When those discussions are concluded, of course I will be in a position to fulfil the answers to the Deputy's questions and his information needs.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: Let me conclude. The Deputy is asking me about the nature of engagement that I have had with the Commission. When that engagement is concluded, I will then be in a position to answer the Deputy's question, and the Tánaiste was correct in what he said.