Results 14,641-14,660 of 32,961 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs Data (20 Jun 2019)

Paschal Donohoe: I am advised by Revenue that estimated costs of increases to the lifetime gains limit for Entrepreneur Relief from Capital Gains Tax are available on page 14 of the Revenue Ready Reckoner, which is available at . While not all of the increases proposed by the Deputy are included in the Ready Reckoner, these can be estimated on a straight-line or pro-rata basis from those shown.

Written Answers — Department of Finance: Universal Social Charge Data (20 Jun 2019)

Paschal Donohoe: I am advised by Revenue that the cost of abolishing the 3% USC surcharge that applies to non-PAYE income over €100,000 is estimated at €70 million in the first year and €125 million in a full year. These estimated figures are based on projected 2019 incomes, calculated on actual data for the year 2016, and may be revised. The estimates do not account for any...

Written Answers — Department of Finance: Tax Reliefs Data (20 Jun 2019)

Paschal Donohoe: I understand that the "conversion" the Deputy is referring to is from industrial or commercial (i.e. non-residential) use into residential use. In Budget 2018, I increased the rate of stamp duty on the purchase of non-residential land and buildings from 2% to 6% while leaving the rate of duty on residential buildings at 2%. I also introduced a related measure intended to further...

Written Answers — Department of Finance: Tax Credits (20 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 73 and 74 together. The projected cost/yield from indexation of income tax credits and bands for Budget 2020 will not be finalised until Revenue has completed and published its Pre-Budget 2020 Ready Reckoner, which isexpected to be published in early Quarter 3 2019. The most up-to-date information available at present is the Post-Budget 2019 Revenue Ready...

Written Answers — Department of Finance: Credit Union Regulation (20 Jun 2019)

Paschal Donohoe: As the Deputy is aware, credit unions are regulated and supervised by the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions. Within his independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability, and to protect the savings of credit union members. Since...

Written Answers — Department of Finance: Motor Insurance Costs (20 Jun 2019)

Paschal Donohoe: At the outset, the Deputy should note that I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept....

Written Answers — Department of Finance: Summer Economic Statement (20 Jun 2019)

Paschal Donohoe: Ireland has seen a strong level of international investment in its commercial real estate sector since 2013. More recently, there has been significant investment in the residential sector. Much of this investment has been in the form of non-bank lending and equity financing. Notwithstanding the increase in foreign investment in the construction sector, the Central Bank of Ireland’s...

Written Answers — Department of Finance: Construction Industry (20 Jun 2019)

Paschal Donohoe: I am advised by the Central Bank that its Statistics division collect data on the outstanding stock of Credit Advanced to Irish Resident Private-Sector Enterprises by Irish banks relating to the Construction and Real Estate Sectors. This information can be found on the Central Bank's website in Table A.14 -Credit advanced to Irish resident- private enterprises. (Link below) The annual...

Written Answers — Department of Finance: Financial Services Regulation (20 Jun 2019)

Paschal Donohoe: The Central Bank is independent in the performance of its authorisation functions. During the assessment phase of the authorisation process, I understand that the Central Bank will assess each application for authorisation to determine whether the applicant has demonstrated that it meets the requirements set out in Part V, Chapter 3 of the Central Bank Act 1997, which include a requirement...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman Remit (20 Jun 2019)

Paschal Donohoe: The 21st of January 2019 was appointed as the day on which the Consumer Protection (Regulation of Credit Servicing Firms) Act 2018 came into operation by Statutory Instrument 3 of 2019. Persons had three months from that date to avail of the transitional provisions in the Act. As I previously confirmed in reply to a Parliamentary Question yesterday (PQ 25649), persons who are taken to be...

Written Answers — Department of Finance: Revenue Commissioners Data (20 Jun 2019)

Paschal Donohoe: I am advised by Revenue that it is not possible to provide the information requested by the Deputy because the relevant data is not captured or maintained in a manner that allows segregation of rental income related tax liabilities. Since 2015, Revenue records details of all compliance interventions on its case management system. However, the information is captured at tax head level (i.e....

Written Answers — Department of Finance: VAT Exemptions (20 Jun 2019)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with Irish VAT legislation, slurry spreading equipment is liable to VAT at the standard rate, currently 23%, and there is no discretion, under the EU VAT Directive, to exempt these goods from VAT. I am advised by the Revenue Commissioners that farmers may elect to register...

Written Answers — Department of Public Expenditure and Reform: Economic Policy (20 Jun 2019)

Paschal Donohoe: It is important to note that the approach currently adopted in relation to setting out multi-annual expenditure ceilings is informed by lessons learned in the lead up to the fiscal and economic crisis. In the years preceding the crisis, large increases in expenditure were implemented on an annual basis, which ultimately proved to be unsustainable. Reflecting on this, there are clear risks to...

Written Answers — Department of Public Expenditure and Reform: Shared Services (20 Jun 2019)

Paschal Donohoe: This query relates to the National Shared Services Office (NSSO), which is an independent Civil Service Office under the aegis of the Department of Public Expenditure and Reform. I have asked the NSSO to respond to the Deputy directly. The matter concerns personal information and I understand that the NSSO has been in contact with the requester on a number of occasions about the response. I...

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Remuneration (20 Jun 2019)

Paschal Donohoe: Important measures are in place to ensure that our expenditure and budgetary targets are being achieved on an ongoing basis. Managing the delivery of public services within budgetary allocations is a key responsibility of each Government Minister and Department. The Department of Public Expenditure and Reform is in regular contact with all other Departments and Offices to ensure that...

Written Answers — Department of Public Expenditure and Reform: Public Sector Reform Implementation (20 Jun 2019)

Paschal Donohoe: As mandated by Government, my Department’s statutory functions include responsibility to formulate, develop, and coordinate the implementation of policies to further modernise and develop the public service and enable the efficient and effective provision of services by public service bodies. I can therefore assure the Deputy that this reform agenda will continue to be an integral part...

Written Answers — Department of Public Expenditure and Reform: Economic Policy (20 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 92 to 94, inclusive, together. Overall our economy is in good shape and is expected to grow this year and next. Indeed modified domestic demand, an underlying measure of growth in the economy, grew by 4.5 per cent for 2018 as a whole. One of the best barometers of the heath in the economy is the labour market. The strong growth in employment over the...

Written Answers — Department of Public Expenditure and Reform: Public Expenditure Policy (20 Jun 2019)

Paschal Donohoe: My Department has recently published its Annual Report for 2018 on the Gov.ie website ( ). This report provides a comprehensive overview of the work of the Department in 2018 across a broad range of areas of public expenditure management and reform of the Civil and Public Service, as it continues to implement its Statement of Strategy 2016-2019. The report includes sections on managing...

Written Answers — Department of Public Expenditure and Reform: Brexit Preparations (20 Jun 2019)

Paschal Donohoe: Within my Department and across the public service, preparations for Brexit have been underway since before the UK referendum in 2016. The Government’s Contingency Action Plan, published at the end of last year and updated at the end of January, sets out the comprehensive, cross-Government preparations for Brexit. All Departments have sector-specific plans in place identifying key...

Written Answers — Department of Public Expenditure and Reform: Public Expenditure Policy (20 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 97 and 98 together. Managing the delivery of public services within allocations is a key responsibility of each Minister and Department. Important measures are in place to ensure that our expenditure targets are being achieved. Officials in the Department of Public Expenditure and Reform are in regular contact with all other Departments and offices to...