Results 13,201-13,220 of 32,924 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: Assuming, which is a reasonable assumption, that they are receiving child benefit.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: Excuse me, the Deputy did.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: Deputy McGrath is correct. I referred to that point in my own definition of the conditions for the home care tax credit and it is made clear on the website of the Revenue Commissioners. Turning to Deputy Doherty's question regarding defining "permanently incapacitated by reason of mental or physical infirmity", it is defined, according to the Revenue Commissioners, in practice by the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I am wary for cost reasons alone, and I am also very careful when I am advised that there would be big difficulties in doing something. It is not something I will be proposing to move to in the medium term.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: We discussed this on Committee Stage last year. I remain satisfied that the current limits are appropriate. In 2017, this measure benefited 80,500 taxpayer units. Little evidence is currently available to indicate that the current exemption limits are causing any undue financial hardship for those aged over 65. Deputy McGrath may have different evidence, to which he will no doubt refer if...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: As I was looking at the amendment, the same question crossed my mind. I thank the Deputy for offering such forbearance and an opportunity to me to change the budget, but I will explain why I am not in a position to accept his amendment. In this Finance Bill I have provided for an increase of €150 in the earned income credit to bring it to a value of €1,500 per year. It is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I thank Deputy Doherty for his contribution. I have conducted a review of the SARP scheme. As he will be aware, I have put in place a cap of €1 million for new applicants, which will apply to all applicants from 1 January 2020. I have put in place such a cap driven by my own concerns to ensure we have the right balance between schemes that reward people on a high income and the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I wish to come in again to respond to some of the charges made. Deputies have described the reality for families they know and represent who are looking for better services and need support for their children or other family members who have great needs. I feel the same way in wanting to make progress to ensure those families and citizens will receive the support they need and deserve. I...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I have to justify the choices I make to my constituents, as Deputy Doherty does. I will do so. I conclude by noting again that the Deputy is quoting a figure of €111,000. Let us also quote the €355,000 of tax paid by the same individual, an individual who might not have been in this country if a scheme like this was not in place. It is a scheme that many other countries...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: Throughout this period, Ireland's share of international investment and employment has continued to prosper. I am not for a moment arguing that the SARP scheme is the sole reason for this. I am making the case that these are jobs of a particular type which other countries also want to attract. In order to get those jobs we have to be competitive. We benefit from additional tax revenue by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: Amendments Nos. 5 and 6 would have the effect of removing the restriction on a qualifying holding company in respect of the carrying on of a trade or trades. The Finance Bill 2019 provides for significant broadening of the types of companies and structures that may avail of the KEEP and increases the scope of activities that may be carried out by a qualifying holding company, including...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: We must apply for state aid clearance. We will not begin the process of applying until the Bill is passed by the Oireachtas. We anticipate that it will take four to six months to get approval from the Commission. Of course, this is an independent decision made by the Commission and we will have to engage with it on it. I will share my note. I will ensure that the committee's secretariat...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I move amendment No. 10: In page 19, to delete lines 10 to 21.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: We have not carried out any study beyond the study and information I published as part of budget 2019. I have retained the scheme because it provides important help for people who are looking to buy their first home in particular. On the view that could be created that the scheme looks in some way to support developers or the purchase of valuable home, the average house purchase price...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I will deal with Deputy Paul Murphy's points first. The reason I am not commissioning a further study into a decision I have made is that I have had two studies on it, the latest of which was undertaken 12 months ago for last year's budget. I published it and all the information relating to it. On lobbying, I had one meeting with the CIF at which there was no reference to the help-to-buy...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I do not believe that any further support is needed because I am not changing the scheme.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: The reason I am giving it and making it available through the Exchequer is I believe it is appropriate when we look at issues relating to the affordability of homes that we make a degree of support available, particularly for the first house purchase. I am aware of all the debates on this -----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I still believe that support like this should be made available. Of course, the majority of those accessing this scheme have a loan-to-value ratio higher than 85%.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: It goes back to the original design of the scheme, which provides broad support to help people buy their first property. It is also about creating a framework in which we will see an increase in supply of homes. While I would not make the case that the scheme is the key reason we have seen an increase in the number of homes being built in the State, as I could not stand over that, I believe...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I am answering the Deputy's question. For somebody who is looking to buy their first home, a case can be made for offering a degree of support for that. Even if I was to take the Deputy's point and say that somebody purchasing a home that has a loan-to-value ratio of less than 85%, and he may make the case that they do not need any support because they are able to purchase the home with...