Results 10,241-10,260 of 32,864 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (26 Nov 2020)

Paschal Donohoe: When the Bill is enacted, it will allow for assessments to recommence in circumstances where the legal basis for such assessments is clarified. The Deputy asked why this is only being done now. The answer is that it must be done by means of amendment through a finance Bill. Finance Bills are progressed at budget time, so I had to await the opportunity of this year's Finance Bill to make...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (26 Nov 2020)

Paschal Donohoe: The Deputy speaks with real pedigree regarding emergency legislation that he voted for being brought in. He voted for some of the legislation that had the most damaging effect on the State and burdened generations to come with the debt with which we are still dealing. I do not know where in my statement he got any hint of harshness. I think he must have been distracted and looking at...

Ceisteanna Eile - Other Questions: State Savings Schemes (26 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 65 and 77 together. The introduction of any new State-supported savings measures would normally be considered as part of the annual budgetary and finance Bill processes. Given that precautionary saving is likely to have increased as a result of the pandemic, the need for the State to encourage further saving or introduce any State-backed investment scheme is...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: This is typical of Sinn Féin. Its members come in here and levy accusations about me, my party and the Government being in the pocket of an industry, whereas the truth is that I am focused on trying to ensure, through policies that can make a difference and laws we can implement, that we can deliver lower premiums for businesses, families and motorists over time. The Deputy does not...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: The Deputy is not being serious on this matter. He comes in here and roars at me on different matters. I know how important these issues are. If I do not meet the insurance sector to raise the issues of competition and of ensuring that those to whom the sector provides policies are treated fairly, he will come in and roar at me about that as well. He will condemn me for not meeting the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: -----and when I do meet the insurance sector, Deputy Doherty walks in here and roars again. He stands up and gives, as I have said before of him, the single transferable roar, depending on what the issue of the day is. He and other Members of the House, I remember very clearly, called on me to meet the insurance sector in order to raise the issues he and others have raised. Then, when I do...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: I am not interested in sound bites on this; I am interested in making progress on an issue I know is very serious. The data the Central Bank has published show the progress that has been made on motor insurance premiums.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: The stay-and-spend scheme provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per person, or €1,250 for a jointly assessed couple. It opened on 1 October 2020 and is scheduled to run until 30 April 2021. The tax credit is worth a maximum of €125, or €250 for a jointly assessed couple. The purpose of...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: I remind the Deputy that, unfortunately, much of the money to which he refers is money that we are borrowing, so if the stay-and-spend scheme ends up costing far less than I expect, much of that will be due to reasons that are beyond my control. This means, in effect, that we are borrowing less and adding further debt onto this generation and generations to come. The scheme's...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Avoidance (26 Nov 2020)

Paschal Donohoe: I thank the Deputy. As he is aware, I am not in a position to comment on the activities of individual taxpayers. However, I can give the following overview of section 110 of the Taxes Consolidation Act 1997 as it relates to the securitisation of mortgages. Securitisation allows banks to raise capital and share risk. By providing a repackaging and resale market for corporate debt it...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Avoidance (26 Nov 2020)

Paschal Donohoe: In recognition of some of the issues raised by Deputy Boyd Barrett and others, important changes were made in Finance Acts in 2016, 2017 and 2019 to deal with taxation of income and of these vehicles. I am not in a position to comment on any individual transaction but I wish to emphasise that tax liability arises on the distribution of the income to noteholders.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Avoidance (26 Nov 2020)

Paschal Donohoe: I am commenting generally in my reply. Tax is due when income is distributed to noteholders in section 110 organisations. I want to ensure that the tax laws governing these entities reflect the important role of securitisation in enabling our banks to function and fund themselves efficiently while dealing with issues that have rightly been raised in this House. That is why changes have...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: As the Deputy is aware, the National Claims Information Database was a key recommendation of the cost of insurance working group. It is intended to facilitate a more indepth analysis of annual trends in motor insurance claims. The second report, published earlier this month by the Central Bank, confirms that premiums for private motor insurance policies decreased by 9% from their recent...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Banking Sector (26 Nov 2020)

Paschal Donohoe: As the Deputy will be aware, I met representatives of Ulster Bank on 21 October. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. I used that meeting as an opportunity to emphasise my concerns regarding the impact of such a decision on the economy, the banking sector, staff and those who depend on Ulster Bank...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Banking Sector (26 Nov 2020)

Paschal Donohoe: I will continue to engage on this matter both with Ulster Bank and its parent company. As I said, I am well aware of the significance of Ulster Bank as an employer, a provider of competition and a supplier of services in the country, in particular the branches it has located in areas outside Dublin. It is a very important employer and bank. I emphasise that I and the Government do not have...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Banking Sector (26 Nov 2020)

Paschal Donohoe: The matters the Deputy referred to regarding whose services NatWest and Ulster Bank are procuring are not matters in which I am involved, as the Deputy knows. This is a bank in which the State does not have a formal stake or role. Who it procures to provide services is not a matter in which I have any role. Where I have a role is in relaying the strong concerns I have about changes that...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (26 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 72, 74, 103, 124, 151, 195 and 205 together. The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT 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 cost of the scheme in 2019, excluding motor tax, was €72m. The Scheme is open to severely and...

Written Answers — Department of Finance: Economic Data (26 Nov 2020)

Paschal Donohoe: The outbreak of the Covid-19 pandemic earlier this year and the restrictions introduced to suppress the virus led to an unprecedented contraction of global economic activity. Lockdown restrictions saw the Irish economy contract by 6 per cent in the second quarter - the largest quarterly decline on record. This figure was at the lower-end in a European context, with GDP declining by -20...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) announced in the Budget on 13 October 2020 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. CRSS will supplement the existing supports available under the COVID Pandemic Unemployment Payment (PUP) and the...

Written Answers — Department of Finance: Departmental Strategy Statements (26 Nov 2020)

Paschal Donohoe: In accordance with the provisions of the Public Service Management Act 1997, my Department is currently preparing its Statement of Strategy for the period 2021-2023. The development of the new Statement of Strategy will reflect the objectives as set out in the Programme for Government. When finalised, it will serve as a framework for, and guide to, the business planning, resource allocation...