Results 16,281-16,300 of 32,961 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Stamp Duty (12 Feb 2019)

Paschal Donohoe: I am advised by Revenue that a reduced rate of stamp duty applies to transfers of farmland between a father and son (and certain other blood relatives) subject to certain conditions. A rate of 1% applies instead of the standard 6% rate. This reduced rate is referred to as consanguinity relief. To be eligible for the relief, the person to whom the land is transferred must either farm the...

Written Answers — Department of Finance: Insurance Costs (12 Feb 2019)

Paschal Donohoe: Recommendation six of the Cost of Insurance Working Group’s Report on the cost of employer and public liability insurance seeks to amend section 8 of the Civil Liability and Courts Act 2004 to ensure that defendants are notified of a claim lodged against them at an earlier date than currently required i.e. a reduction from two months to one month. I am pleased to inform the Deputy...

Written Answers — Department of Finance: Mortgage Interest Rates (12 Feb 2019)

Paschal Donohoe: The Central Bank of Ireland has made further changes to the Consumer Protection Code 2012 (the Code), effective from 1 January 2019, to help consumers make savings on their mortgage repayments, to provide additional protections to consumers who are eligible to switch, and to facilitate mortgage switching through enhancing the transparency of the mortgage framework. For consumers on variable...

Written Answers — Department of Finance: Mortgage Interest Rates (12 Feb 2019)

Paschal Donohoe: As the Deputy will be aware, pricing decisions and commercial strategies are the responsibility of the board and management of the banks which must be run on an independent and commercial basis. The banks’ independence is protected by Relationship Frameworks which are legally binding documents which I as Minister, cannot change unilaterally. These frameworks which are publicly...

Written Answers — Department of Finance: Motor Insurance Costs (12 Feb 2019)

Paschal Donohoe: The seventh quarterly update on the progress of the Cost of Insurance Working Group (CIWG) was published last November and shows that of the 59 separate applicable deadlines within the Action Plan of the Report on the Cost of Motor Insurance set to the end of Q3 2018, 45 relate to actions which have now been completed. It is envisaged that the next quarterly Progress Update will be...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (12 Feb 2019)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years. However, you should be aware that the provision of insurance is a commercial matter for insurance companies, which has to be based...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (12 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 161 and 162 together. Insurance Ireland has advised me that they do not collate, publish or communicate any data relating to claims information at a granular level from their members. They have pointed out that property insurance policies cover a range of perils such as fire, storm, theft, water damage, and it is not possible to isolate the number of...

Written Answers — Department of Finance: Tax Yield (12 Feb 2019)

Paschal Donohoe: I am advised by Revenue that the Stamp Duty received from the levy on non-life insurance policies from 2008 to present is set out in the following table. Year Yield €m 2008 80.10 2009 86.39 2010 109.47 2011 106.40 2012 104.16 2013 98.73 2014 103.35 2015 107.95 2016 135.67 2017 164.49 2018* 159.56 2019 (January)* 18.54 *Figures for 2018 and 2019 are provisional.

Written Answers — Department of Finance: EU Directives (12 Feb 2019)

Paschal Donohoe: The Solvency II Directive (2009/138/EC), which entered into force 1 January 2016, sets out new, more comprehensive EU-wide requirements on capital adequacy and risk management for insurers. It was transposed into Irish law via the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015). Solvency II represents a significant change to the regulatory framework...

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (12 Feb 2019)

Paschal Donohoe: As Minister for Finance, it would not be appropriate for me to comment on specific enforcement measures taken by the Central Bank of Ireland, the position of them or the reason for them. The Deputy will appreciate that I am responsible for the development of the legal framework governing financial regulation, whereas the day to day supervision of insurance undertakings is a matter for the...

Written Answers — Department of Finance: Revenue Commissioners Staff (12 Feb 2019)

Paschal Donohoe: In September 2018, the Government granted approval for phased recruitment of an additional 600 Revenue staff to meet the challenges posed by Brexit. Budget 2019 provided Revenue with the funding needed for 270 of the additional 600 staff to be recruited during 2019 to manage an orderly UK withdrawal. Following the Government decision to give greater priority to the preparations for a...

Written Answers — Department of Finance: Economic Data (12 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 169 and 170 together. Firstly, it is worth noting that projections for the General Government (GG) revenue and expenditure for 2018 to 2023 can be found in table 11 of the Economic and Fiscal Outlook, published as part of Budget 2019. The figures are reproduced below for the Deputy’s convenience. As the Deputy will appreciate, projections beyond 2023...

Written Answers — Department of Finance: Ministerial Advisers Data (12 Feb 2019)

Paschal Donohoe: I wish to inform the Deputy that Ministerial appointments in the Department of Finance are made in line with “Instructions to Personnel Officers - Ministerial Appointments for the 32nd Dáil” which include “Guidelines on staffing of Ministerial offices” issued by the Department of Public Expenditure and Reform. The salary scale for Special Advisers to a...

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (12 Feb 2019)

Paschal Donohoe: I am advised by Revenue that, in general, Enforcement Officers are not subject to physical security checks entering or leaving the premises where they are based from time to time. In the case of Enforcement Staff operating in airports, staff may be subject to physical security checks when entering and re-entering the critical part of the security restricted area i.e. the airside area of the...

Written Answers — Department of Finance: Revenue Commissioners (12 Feb 2019)

Paschal Donohoe: I am advised by Revenue that it operates in a manner that is sensitive to the needs of vulnerable customers within its casebase of 2.4 million customers, when carrying out its statutory functions. Revenue’s customer service charter specifies that all customers will be treated courteously, with consideration and in a non-discriminatory way in their dealings with Revenue. There are...

Written Answers — Department of Finance: Appointments to State Boards (12 Feb 2019)

Paschal Donohoe: A number of officials from my Department are serving on boards of international institutions and banks. However, I take it that the Deputy’s question relates to officials appointed to domestic boards and agencies. Eight officials from my Department are currently serving on nine domestic boards or agencies. Four have been appointed to six boards on an ex-officio basis, with two of...

Written Answers — Department of Finance: Insurance Compensation Fund (12 Feb 2019)

Paschal Donohoe: Setanta Insurance ("Setanta") was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that the Insurance (Amendment) Act 2018 (Act 21 of 2018) was enacted in July 2018. The Act inter alia provides for revised arrangements for the on-going...

Written Answers — Department of Finance: Tax Credits (12 Feb 2019)

Paschal Donohoe: I am advised by Revenue that it has now completed a comprehensive review of the person’s tax situation. Following the review, additional tax credits were allocated to the person in respect of 2013 and a refund will issue in the coming days. Revenue is satisfied that the person’s tax credits in respect of all other years were correctly allocated and there are no further refunds...

Written Answers — Department of Finance: VAT Exemptions (12 Feb 2019)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, Irish legislation provides for an exemption from VAT for professional medical care services recognised as such by the Department of Health and Children. Those medical care services are generally supplied by health...

Written Answers — Department of Finance: Tracker Mortgages (12 Feb 2019)

Paschal Donohoe: The Central Bank of Ireland advises that, depending upon a customer’s personal circumstances, any such practice as outlined by the Deputy would have to comply with certain requirements of the Consumer Protection Code and be in the customer’s best interests. In particular, the following requirements of the Consumer Protection Code will be relevant:- Provision 6.9(b) requires...