Results 8,401-8,420 of 32,643 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Housing Schemes (15 Jun 2021)

Paschal Donohoe: Since inception, HBFI has provided funding to house builders for over 2,400 homes across 17 counties, comprising of approximately 56% houses and 44% apartments. To be clear, HBFI funds the construction of new homes and does not lend to the end buyers of these homes, whether they be institutional funds, Approved Housing Bodies (AHBs), local authorities or other categories of buyer. Based on...

Written Answers — Department of Finance: Ministerial Meetings (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 106 and 313 together. The G7 meeting of Finance Ministers took place in London over two days, under strict Covid-19 guidelines, from Friday 4th to Saturday 5th June. In my capacity as President of the Eurogroup, I was in attendance at the in-person meetings on both days where participants considered coordinated approaches to the key economic challenges...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: The Programme for Government - “Our Shared Future” – includes a commitment to bring forward legislation in relation to the Local Property Tax on the basis of fairness and that most homeowners will face no increase in their LPT liability. In addition there is a commitment to bring new homes, which are currently exempt from the LPT, into the taxation system. ...

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

Paschal Donohoe: I propose to take Questions Nos. 109, 111, 355, 378, 383 and 405 together. The Government has committed on multiple occasions that there will be no “cliff edge” to supports for business. Following the Government meeting on 1 June, I announced a number of measures to provide certainty to businesses as public health restrictions are lifted and allow them to plan for the future...

Written Answers — Department of Finance: Programme for Government (15 Jun 2021)

Paschal Donohoe: The Government recognises the concerns felt around the cost and availability of insurance. As such, timely implementation of the Action Plan for Insurance Reform is high on the Government’s agenda. This sets out 66 actions which aim to bring down costs for consumers and business; introduce more competition into the market; prevent fraud and reduce the burden that insurance costs can...

Written Answers — Department of Finance: EU Funding (15 Jun 2021)

Paschal Donohoe: In the Budget 2021 speech, I announced the Irish Government’s decision to make a formal application to the European Commission for funding under the Support to mitigate Unemployment Risks in an Emergency (SURE) Instrument. The SURE instrument is intended primarily to support Member States with efforts to protect workers and jobs, and also support some health-related measures. ...

Written Answers — Department of Finance: Insurance Coverage (15 Jun 2021)

Paschal Donohoe: It is important at the outset to state that the provision of cover is a commercial matter for insurance companies, based on an assessment of the risks they are willing to accept. As such the Government cannot interfere in the provision or pricing of insurance, or direct as to what cover is provided on. Consequently, neither I nor the Central Bank of Ireland can interfere in this, as...

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

Paschal Donohoe: I propose to take Questions Nos. 114 and 348 together. The Government have provided for a range of sectorial support grant schemes aimed at assisting businesses in financing their fixed costs and focussed on those that have seen a significant decrease in turnover (75%) or are closed by restrictions. As the economy re-opens, it is intended that these direct grants will be replaced with a more...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: I am aware that the International Monetary Fund, in its bi-annual Fiscal Monitor released on 7 April 2021, suggested that countries could consider a temporary Solidarity Tax on high earners and businesses that have prospered during the pandemic. While I understand why some may feel the introduction of such a measure is justified, I would urge caution in calling for the adoption of such a...

Written Answers — Department of Finance: Grant Payments (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 117 and 389 together. A Supreme Court decision of 18th June 2020 found in favour of two appellants against the Disabled Drivers Medical Board of Appeal's refusal to grant them a Primary Medical Certificate (PMC). The judgement found that the medical criteria set out in the Regulations did not align with the regulation making mandate given in the primary...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: As the Deputy will be aware, on May 19th this year I introduced by way of a Financial Resolution a new measure which applies a stamp duty charge on bulk purchases of houses, which took effect from midnight that day. This new stamp duty rate replaces the pre-existing stamp duty rates for residential property, which are 1% for the first €1 million in consideration and 2% on amounts above...

Written Answers — Department of Finance: Insurance Coverage (15 Jun 2021)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial services regulation, including for the insurance sector, while the provision of cover is a separate commercial matter for insurance companies. This is based on an assessment of the risks they are willing to accept. Consequently, neither I nor the Central Bank of Ireland can interfere in...

Written Answers — Department of Finance: Insurance Industry (15 Jun 2021)

Paschal Donohoe: The Cabinet Committee Sub-Group on Insurance Reform oversees implementation of the Action Plan for Insurance Reform. This sets out 66 actions across several departmental policy areas, including that of the Department of Finance, to improve the insurance environment for consumers, businesses and community groups. This cross-Governmental reform agenda has been adopted in recognition of the need...

Written Answers — Department of Finance: Economic and Social Research Institute (15 Jun 2021)

Paschal Donohoe: My officials and I are familiar with the ESRI report entitled “Options for raising tax revenue in Ireland” and I welcome this type of research, which is very beneficial to informing policy decision making and which can aid budgetary decision making. The ESRI’s key finding is that “increases in taxes on income, consumption and property may be needed to fund...

Written Answers — Department of Finance: Insurance Industry (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 124 and 354 together. The Deputies will be aware that the Programme for Government includes a commitment to work to remove dual pricing, a form of differential pricing, from the insurance market. In this regard, the Action Plan for Insurance Reform also commits to examine the forthcoming final report and recommendations of the Central Bank Review of...

Written Answers — Department of Finance: Corporate Governance (15 Jun 2021)

Paschal Donohoe: As the Deputy will be aware, since 2011, the Government has enacted a broad range of primary and secondary legislation to address issues that arose prior to 2008, to provide more consumer protection and to ensure greater oversight, stability and sustainability of the Irish financial services sector. The regulatory landscape has been utterly overhauled since the financial crisis, with: the...

Written Answers — Department of Finance: Credit Unions (15 Jun 2021)

Paschal Donohoe: Credit unions in Ireland are regulated and supervised under the Credit Union Act, 1997 (the 1997 Act) and regulations issued by Central Bank, which set out the framework for the registration, regulation and operation of credit unions. Board of directors Sections 53-57 of the 1997 Act set out the relevant legislative provisions relating to the directors of credit unions. The process for the...

Written Answers — Department of Finance: Fiscal Policy (15 Jun 2021)

Paschal Donohoe: As the Deputy is aware, the fiscal rules have been an integral part of the European economic governance framework for a number of decades, dating back to the adoption of the Stability and Growth Pact (SGP) in 1997. This framework has evolved significantly over the past two decades, particularly following the economic and fiscal crisis, which saw the rules strengthened through the adoption of...

Written Answers — Department of Finance: Vacant Properties (15 Jun 2021)

Paschal Donohoe: I consider that the primary objective of a vacant residential property tax or levy would be to increase the supply of homes for rent or purchase to meet demand rather than increasing tax revenues. However, before introducing such a tax it is of course important to have a sound understanding of the quantity, locations and characteristics of long term vacant dwellings, and the reasons why they...

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

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) was legislated for under the Financial Provisions (Covid-19) (No. 2) Act 2020. On 1 June last, the Government announced an extension of the scheme and full details will be published in forthcoming legislation. The EWSS is an enterprise wide support available to employers of businesses impacted by Covid-19. The current eligibility criteria for EWSS...