Results 15,861-15,880 of 34,135 for speaker:Paschal Donohoe

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Income Data (19 Jun 2019)

Paschal Donohoe: Ireland has one of the most progressive personal income tax systems in the world, which plays a crucial role in the process of income redistribution along with our social welfare system. Our redistributive tax system has been acknowledged internationally by both the International Monetary Fund and the OECD. However, it is the Government’s position that workers start to pay too high a...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Income Data (19 Jun 2019)

Paschal Donohoe: I reaffirm what the Taoiseach said, which is that if the economy continues to grow, the resources will be there to make a change like that. We can look at the funding generated each year through the non-indexation of the tax code, with approximately €500 million made available to do tax reform and reduction. As the Deputy knows, we are looking to move the tax thresholds in line with...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Corporation Tax (19 Jun 2019)

Paschal Donohoe: I am not complacent regarding the risks posed by the increasing share of corporation tax within overall taxation revenues. Along with officials in the Department of Finance, I have identified this risk on several occasions, most recently in the April stability programme update and the Department's annual taxation report. The sharp increase in corporation tax is a notable development in...

Written Answers — Department of Finance: Carbon Tax Collection (19 Jun 2019)

Paschal Donohoe: It is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on any tax matters that might be the subject of Budget decisions. Having said that, the Deputy will be aware that the Climate Action Plan 2019, published on Monday last, provided a commitment to assess a Carbon Tax trajectory of at least €80 per tonne by 2030, having regard to...

Written Answers — Department of Finance: NAMA Operations (19 Jun 2019)

Paschal Donohoe: As part of its Annual Report for 2018, NAMA recently revised its projected surplus to be returned to the State to €4 billion. The realisation of this surplus depends on the success of NAMA’s ongoing deleveraging and completion of its Dublin Docklands SDZ and residential funding programmes. Surplus funds may only be returned to the Central Fund once NAMA's debt has been...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 34, 35 and 37 together. I am very conscious of the difficulties being experienced as a result of the cost and availability of insurance to certain types of businesses. Whilst at both political and departmental level there has been considerable engagement with the different business stakeholders including for instance play centres, representatives,...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (19 Jun 2019)

Paschal Donohoe: As I have mentioned on many occasions, the Central Bank Code of Conduct on Mortgage Arrears (the CCMA) is a statutory code issued under Section 117 of the Central Bank Act 1989. It clearly states in the CCMA that its provisions are legally binding on regulated entities, and the Central Bank has the power to administer sanctions on regulated entities for a contravention of the CCMA...

Written Answers — Department of Finance: Mortgage Book Sales (19 Jun 2019)

Paschal Donohoe: The Deputy will be aware that the reduction in the level of non-performing loans, or NPLs, across European banks is a major priority for the banking regulator, the SSM. The Irish banks have made huge progress in this regard since the height of the crisis. According to the Central Bank of Ireland, the average NPL ratio of the domestic Irish banks was 8.5 % in December 2018, falling from 13.8%...

Written Answers — Department of Finance: Brexit Data (19 Jun 2019)

Paschal Donohoe: Given that the UK represents one of the largest net contributors to the EU budget, Brexit is likely to have a significant impact on the contributions of all Member States, including Ireland’s. The exact impact will dependent on the nature of the final agreement between the EU and the UK regarding its involvement with the EU budget post-Brexit. Under the Withdrawal...

Written Answers — Department of Finance: Insurance Industry (19 Jun 2019)

Paschal Donohoe: At the outset, I would like to put on record that I share the same concern as the Deputy in relation to the recent reporting of the large profits of insurers for 2017 at a time when many small businesses are struggling to get cover in the first place, or to get it at a reasonable price.  I consider the current position unacceptable and I have made this very clear to Insurance Ireland...

Written Answers — Department of Finance: Central Bank of Ireland Staff (19 Jun 2019)

Paschal Donohoe: As the Deputy will be aware the New Zealand State Services Commissioner is carrying out an investigation into the unauthorised access of New Zealand Budget material and the events surrounding it.  I am not going to be drawn into speculating on a matter on which the New Zealand State Services Commissioner is currently compiling a report. The State Services Commissioner, Peter Hughes, has...

Written Answers — Department of Finance: Tracker Mortgage Examination (19 Jun 2019)

Paschal Donohoe: The Central Bank’s Tracker Examination is focused on ensuring that lenders provide fair outcomes for all groups of customers impacted by tracker related failings both from a contractual and transparency perspective.   The Examination is the largest, most complex and most significant supervisory review that the Bank has undertaken to date under its consumer protection mandate...

Written Answers — Department of Finance: Tracker Mortgage Examination (19 Jun 2019)

Paschal Donohoe: I would remind the Deputy that as Minister for Finance there are strict rules around how I can intervene even in banks in which the State has a shareholding. The day to day operations of the banks are the sole responsibility of the boards and management teams and each bank must be run on an independent and commercial basis. The banks’ independence is protected by Relationship...

Written Answers — Department of Finance: Banking Sector Remuneration (19 Jun 2019)

Paschal Donohoe: The Deputy will be aware that Government policy on banking remuneration has remained unchanged since the financial crisis. Extensive restrictions are in place and these are not simply confined to a handful of senior bankers whose pay is restricted by the €500,000 pay cap (excluding a standard pension contribution). These affect c.23,000 workers across the three banks in which the...

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2019)

Paschal Donohoe: There is a commitment in the Programme for a Partnership Government to establish a Rainy Day Fund. Creation of the Fund forms part of Government’s policy to stabilise the public finances and increase the State’s resilience to external economic shocks. The National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018 was published on 24 October 2018 and is now before...

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2019)

Paschal Donohoe: The risks posed by an external shock to our economy have been consistently highlighted for some time by both myself and my Department. These risks are being managed by building-up our fiscal capacity through broadening our tax base, debt reduction, targeting improvement in the general government balance, and establishing the Rainy Day Fund. The tax base has been...

Written Answers — Department of Finance: Licensed Moneylenders (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 47 and 70 together. My Department recently launched a public consultation process seeking views on capping the cost of licensed moneylenders and other regulatory matters in relation to moneylending. The consultation paper is available at . Deputies will be aware of the report by the Centre for Co-operative Studies, University College Cork entitled...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2019)

Paschal Donohoe: I am very conscious of the difficulties that the cost and availability of insurance are having on many businesses, charities, community groups, sporting clubs and other groups in this country and can understand the frustration that many people have with the existing position.  Unfortunately, there is no single policy or legislative “silver bullet” to immediately stem or...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 49 and 102 together. I acknowledge the general problems faced by many small businesses, including hotels, in relation to the cost and availability of insurance as well as the frustrations that some may have with the pace of reform.  Unfortunately, there is no single policy or legislative “silver bullet” to immediately stem or reverse...

Written Answers — Department of Finance: Financial Services Sector (19 Jun 2019)

Paschal Donohoe: The employment target in Ireland for Finance is to reach 50,000 people in direct employment in the sector by 2025. That is a net increase of 5,000 above the target employment level set for the previous strategy, IFS2020. The targeted increase in employment set out in IFS2020 was 10,000. The target of an increase of 5,000 people in employment in international financial services reflects...