Results 7,801-7,820 of 32,610 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Economic Data (21 Sep 2021)

Paschal Donohoe: Prior to the pandemic Irish economic fundamentals were strong, with robust growth, a labour market close to full employment, and surpluses in the underlying current account and the public finances. The outbreak of the pandemic turned the economy on its head in the space of a few weeks however, with the introduction of Covid-19 restrictions resulting in a sharp contraction in economic activity...

Written Answers — Department of Finance: European Union (21 Sep 2021)

Paschal Donohoe: Measured by any objective international criterion, Ireland cannot be defined as a tax haven. Ireland’s corporate tax policy, and broader industrial strategy, has consistently focused on attracting real and substantive investment that brings jobs. Our competitive but fair corporation tax rate is just one small part of the story. This complements our highly educated workforce,...

Written Answers — Department of Finance: European Union (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 213, 214 and 228 together. Ireland’s economic recovery from the Covid-19 crisis is now underway. Strong growth in the domestic economy was recorded in the second quarter of this year and domestic economic activity surpassed its pre-pandemic level for the first time since the start of the crisis. The global economy experienced the shock of the...

Written Answers — Department of Finance: Fiscal Policy (21 Sep 2021)

Paschal Donohoe: I broadly concur with much of the assessment of the Irish Fiscal Advisory Council in their pre-budget submission and I welcome their advice. As the document outlines, all indicators are that the economy is recovering strongly, and that we are in a much more favourable position than we were at this time last year. The vaccination programme has been extremely successful allowing the economy to...

Written Answers — Department of Finance: Tax Data (21 Sep 2021)

Paschal Donohoe: My Department has developed the Annual Taxation Report in order to provide a long-term, strategic perspective on the evolution of taxation receipts since the financial crisis. This allows for the sustainability of tax revenues to be actively monitored so as to minimise fiscal vulnerabilities. The most recent Report, published in August, demonstrates that Ireland’s tax system...

Written Answers — Department of Finance: Fiscal Policy (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 217 and 218 together. It is important to state at the outset that I have no direct role in setting fiscal policy in Northern Ireland. However, enhancing North-South cooperation and supporting the all-island economy is a priority for this Government, as set out in the Programme for Government. This is also articulated in the New Decade, New Approach...

Written Answers — Department of Finance: Fiscal Policy (21 Sep 2021)

Paschal Donohoe: We approach Budget 2022in a much better position than we were this time last year. The economy has recovered rapidly, with the vaccination programme proving extraordinarily successful. However, there will, of course, be long-term effects from the pandemic, particularly in terms of employment. The most recent Exchequer returns showed a deficit of €6.7 billion was recorded to the end of...

Written Answers — Department of Finance: Budget 2022 (21 Sep 2021)

Paschal Donohoe: The Irish Fiscal Advisory Council (Fiscal Council) has a mandate to provide a formal independent assessment of official budgetary forecasts, as well as providing its view on the Government’s fiscal stance in any given year. Most recently, the Council published its annual pre-Budget statement. As ever, this is valuable analysis and I welcome the Council's contribution at an early...

Written Answers — Department of Finance: Economic Data (21 Sep 2021)

Paschal Donohoe: The Labour Force Survey, published by the Central Statistics Office on a quarterly basis, is the official source of labour market statistics for Ireland. It includes the official rates of employment which are based on International Labour Organisation (ILO) standardised concepts and definitions. The latest edition of the Labour Force Survey – issued on 23rd of June this year –...

Written Answers — Department of Finance: Economic Data (21 Sep 2021)

Paschal Donohoe: My Department conducted a macroeconomic analysis of the labour market in April, as part of the Stability Programme Update (SPU) forecasting round. The labour market estimates as published in the SPU in April this year indicate that employment is estimated to return to its pre-pandemic levels during 2023. My Department’s approach to forecasting employment growth entails the application...

Written Answers — Department of Finance: Inflation Rate (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 223 and 226 together. While Covid-19 had a deflationary impact both in Ireland and internationally last year, inflation has picked up since the beginning of this year. The annual rate of HICP inflation rose to 3 per cent in August – the highest rate since 2008. Similar trends have been observed across advanced economies, with inflation rates of 5.3,...

Written Answers — Department of Finance: Inflation Rate (21 Sep 2021)

Paschal Donohoe: While Covid-19 had a deflationary impact last year, inflation has picked up since the beginning of this year. The annual rate of HICP inflation rate rose to 3 per cent in August – the highest rate since 2008. Similar trends have been observed across advanced economies, with inflation rates of 5.3, 3.2 and 3 per cent recorded in the US, UK and euro area in August. The increase in...

Written Answers — Department of Finance: Primary Medical Certificates (16 Sep 2021)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant.   The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify...

Written Answers — Department of Finance: Sports Organisations (16 Sep 2021)

Paschal Donohoe: Section 235 Taxes Consolidation Act 1997 provides an exemption from income tax or corporation tax, as appropriate, for bodies which are established and existing for the sole purpose of promoting:  - an athletic game or an athletic sport, or  - an amateur game or an amateur sport. The exemption applies to that portion of the income of the “approved body” which has been...

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

Paschal Donohoe: It is my understanding that a high proportion of Irish property insurance policies include flood cover. This has been confirmed by a survey recently conducted by the Central Bank of Ireland. That being said, it is recognised that some householders in specific areas or due to certain circumstances are still experiencing difficulties in securing such cover. As such, I have asked my officials to...

Written Answers — Department of Finance: Tax Reliefs (16 Sep 2021)

Paschal Donohoe: Section 664A of the Taxes Consolidation Act 1997 provides for relief on expenditure incurred by farmers in respect of an increase in the carbon tax on farm diesel. It is an additional tax measure for farmers that was  introduced in Budget 2012 to compensate for carbon tax increases at the time. I am advised by Revenue that the tax deductibility in respect of the carbon tax component...

Written Answers — Department of Finance: Departmental Data (16 Sep 2021)

Paschal Donohoe: The Remote Working Relief is available to workers who incur certain expenditure when working from home. The relief entitles workers to claim 10% of the cost of electricity and heating incurred in a year, apportioned by the number of days worked at home. For the tax year 2020 and for the duration of the COVID-19 pandemic on a concessionary basis, the relief also entitles workers to claim 30%...

Written Answers — Department of Finance: Health and Safety (16 Sep 2021)

Paschal Donohoe: The majority of staff of my Department continue to work remotely in line with current Government and the HSE guidelines unless, for business reasons, it is necessary to be physically present in the office. While the wearing of face coverings is not mandatory within my Department’s workplace at present, my Department recognises that some staff may wish to wear a mask while in the...

Written Answers — Department of Finance: Tax Credits (16 Sep 2021)

Paschal Donohoe: The Deputy's previous question asked for an estimated cost in 2022 of amending the research and development tax credit regime by allowing small and micro companies to receive the credit in one instalment rather than three instalments over a 33-month period payable not earlier than the relevant tax pay and file date for the company’s accounting period in which the qualifying expenditure...

Confidence in Minister for Foreign Affairs and Defence: Motion (15 Sep 2021)

Paschal Donohoe: In making the case for confidence in this Government and in the Minister, I acknowledge the recovery that has yet to be led and the healing that this Government must and will help with. In making the case for confidence in the efforts of Simon Coveney and the Government, I acknowledge the work that lies ahead, work this Government is committed to undertaking. Let me deal with the charges...