Results 14,421-14,440 of 34,135 for speaker:Paschal Donohoe

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...

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

Paschal Donohoe: I will respond to two points that were made, making reference to the PBO report, which I have read. The first charge made against me is that the scheme drives prices. The paragraph relating to this issue in the PBO report states: The PBO undertook a modelling exercise to examine the impact of the scheme on new properties using data from the CSO. A difference in difference (DID) estimator...

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

Paschal Donohoe: Individuals can already claim a tax deduction for the costs of travel expenses necessarily incurred in the performance of the duties of their employment or office. This does not include the cost of travelling between home and work. It is a long-held view, supported by much case law, that expenses of travel between home and work are not wholly exclusively and necessarily incurred in the...

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

Paschal Donohoe: I appreciate the reasons for the Deputies tabling this amendment. In my response I acknowledged there is a world of difference between the effect of carbon pricing on somebody who has a bus or a Luas at the end of their road and somebody who does not. Not acknowledging that reality is going to make it even more difficult to try to win the arguments around changes such as this in the future....

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

Paschal Donohoe: I will deal with the matter raised by Deputy Doherty that is at the heart of all of this, namely, what one's view of trade unions is and what role one thinks they play in an economy and society. Trade unions have a very important role to play in our society. I spend a considerable amount of time dealing with them. I spend my time dealing with differences but, at times, there are lots of...

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

Paschal Donohoe: They may well be. It is a matter for them. All they do is evaluate the pros and cons of different things we must do and evaluate. What I would say with regard to the point made by Deputy Doherty is that I fundamentally do not believe that it is the place of the Finance Bill to require me to produce reports. On the other hand, because of Standing Orders, it is pretty much the only kind of...

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

Paschal Donohoe: From a practical point of view, the gain it could provide for citizens could be as low as €1 per week. The factors that are now influencing members of trade unions within the private sector in particular are far deeper than the cost of joining that trade union. All that being said, I am as aware as the Deputy is of what is happening with changes in parts of our economy. I accept the...

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

Paschal Donohoe: Yes, I will. It would not be the subject matter of the report because it is about a different matter, but I will ensure that part of the report will look at this issue which the Deputy has raised on many occasions. We will give it recognition in the report. On Deputy Pearse Doherty's point about timing, we will do it within six months. The report will not be about the role of trade...

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

Paschal Donohoe: Work on that issue is under way in the Revenue Commissioners which are independent of me. I hope that in the coming weeks we will be in a position to update the Oireachtas on the work that is ongoing.

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

Paschal Donohoe: That is a matter for the Revenue Commissioners.