Results 21,801-21,820 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: As outlined to Deputy Murphy in PQ 22738/20 the SURE instrument is intended primarily to support Member States with efforts to protect workers and jobs (such as short-term work schemes), and also support some health-related measures. The European Commission will borrow on financial markets to finance loans to Member States, allowing Member States benefit from the EU’s strong credit...

Written Answers — Department of Finance: Insurance Industry (29 Sep 2020)

Paschal Donohoe: I am in full understanding of the concerns expressed about how the insurance industry is responding to the needs of its business policyholders in these difficult times, including honouring business interruption claims.  While, this is an issue that Minister of State Fleming and I continue to follow closely, it should be noted that neither we, nor the Central Bank can direct or require...

Written Answers — Department of Finance: Tax Code (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that the pre-Budget 2021 Ready Reckoner is published at: On page 24, it shows the estimated additional yield from increasing Betting Duty by a range of amounts, including an increase of 0.5% which is estimated as €23m in a full year.

Written Answers — Department of Finance: Departmental Expenditure (29 Sep 2020)

Paschal Donohoe: The Deputy will be aware that on 15 July 2020, the General Court of the European Union annulled the European Commission's State Aid Decision of 30 August 2016 with respect to Apple.  Ireland has always been clear that, based on Irish law, the correct amount of Irish tax was charged to the company and that Ireland did not provide State aid to Apple. This was the reason that Ireland...

Written Answers — Department of Finance: Unemployment Data (29 Sep 2020)

Paschal Donohoe: My Department’s most recent macroeconomic projections were published in April of this year as part of the Stability Programme Update 2020. The labour market outlook contained within SPU 2020 was that the unemployment rate would peak at approximately 22 per cent in the second quarter of the year, before gradually declining to rates of 13.5 per cent and 10.9 per cent in the third and...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 278 to 280, inclusive, together. The Temporary Wage Subsidy Scheme (TWSS) operated from 26 March 2020 to 31 August 2020 and supported over 66,000 employers in respect of almost 664,000 employees that were negatively impacted by the necessary Covid-19 related restrictions, at a cost to the Exchequer of over €2.8 billion. The Employment Wage Subsidy...

Written Answers — Department of Finance: Tax Code (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that each 1% reduction in the headline rate of CGT is estimated to be €32 million, assuming no behavioural change. Therefore on a straight-line basis the cost of a cut in the CGT rate from its current rate of 33% to 25% is estimated to be €256 million. The Deputy may be interested in the analysis included at link: , which includes information on the...

Written Answers — Department of Finance: National Asset Management Agency (29 Sep 2020)

Paschal Donohoe: On 25th July 2019 the European Commission approved, under EU State aid rules, a limited extension of NAMA to 2025. The extension was sought to allow NAMA to continue to work through a small quantum of residual loans in order to maximise the return from these assets to the State. These loans represent less than 1% of what NAMA originally acquired and will be resolved during the period 2021...

Written Answers — Department of Finance: Budget Process (29 Sep 2020)

Paschal Donohoe: I would like to thank the Deputy for the pre-Budget submission on the over 70s, Covid-19 and the household benefits package. I want to reassure you that the issues raised in the report are very important ones and will be considered in the context of Budget 2021.

Written Answers — Department of Finance: Insurance Industry (29 Sep 2020)

Paschal Donohoe: I would like to begin by assuring the Deputy that insurance reform is a key priority for this Government and this is reflected in the Programme for Government.  Implementation of this agenda is a key issue for myself and Minister of State Fleming as well as my other Cabinet colleagues, especially those that will be working with my Department on this issue. As the Deputy is aware,...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that the business in question could not access the Temporary Wage Subsidy Scheme (TWSS) because it failed to file payroll submissions in respect of February and March 2020. The TWSS, which ceased on 31 August 2020, was a fully automated solution designed around Revenue’s real-time PAYE (employer) system and could not operate where employers failed to meet their...

Written Answers — Department of Finance: Covid-19 Pandemic (29 Sep 2020)

Paschal Donohoe: My Department has spent €306,104 on non-pay Covid-19 related expenditure. This is not pre-committed expenditure for budget 2021.  However, my Department has sought a similar allocation to cover certain Covid-19 related expenses expected in 2021. Some of the Department's staff were assigned as part of the temporary reassignment scheme in response to...

Written Answers — Department of Finance: Covid-19 Pandemic (29 Sep 2020)

Paschal Donohoe: All Covid-19 related expenditure incurred from my Department's Vote has been kept within the total amount allocated to the Department in the 2020 budget.

Written Answers — Department of Finance: Ministerial Advisers (29 Sep 2020)

Paschal Donohoe: I wish to inform the Deputy that on the commencement of every Dáil, the Department of Public Expenditure and Reform issues guidelines setting out the arrangements for the staffing of Ministerial Offices. The appointment of Special Advisers is subject to section 11 of the Public Service Management Act 1997. The Guidelines for the 33rd Dáil, which incorporate the principles of...

Written Answers — Department of Finance: Revenue Commissioners (29 Sep 2020)

Paschal Donohoe: I am advised by the Office of the Revenue Commissioners that it plans to purchase one new mobile container scanner in 2021 to replace one that has reached end-of-life. It is expected that the total cost for the new scanner will be approximately €1.8m. Revenue has applied for a grant from OLAF (the European Anti-Fraud office) under the Hercule III Programme to fund up to 80% of the...

Written Answers — Department of Finance: Covid-19 Pandemic (29 Sep 2020)

Paschal Donohoe: The purpose of the Stay and Spend Incentive (SASI) is to incentivise taxpayers to support registered/accredited providers of accommodation and/or food during the off-season, thus providing support to a particularly vulnerable sector that will continue to be constrained by public health limitations. All food service providers and Fáilte Ireland registered or listed...

Written Answers — Department of Finance: Cycle to Work Scheme (29 Sep 2020)

Paschal Donohoe: Section 118 (5G) of the Taxes Consolidation Act 1997 provides for the cycle to work scheme. It requires that the employee must mainly use the bicycle and safety equipment for qualifying journeys. This means the whole or part of a journey between home and the normal place of work. The Financial Provisions (Covid-19) (No. 2) Act 2020 made some changes to the scheme, increasing the...

Written Answers — Department of Finance: Brexit Preparations (29 Sep 2020)

Paschal Donohoe: I expect the character and composition of Ireland’s international financial services sector is going to fundamentally change in a number of ways as a result of the extensive financial services investments won in recent years, including Brexit relocations and the pipeline of future projects. The industry in Ireland is going to become deeper and more diverse. My Department has been...

Written Answers — Department of Finance: Brexit Preparations (29 Sep 2020)

Paschal Donohoe: As COVID-19 and a no deal Brexit represent key concurrent challenges facing the Irish economy, the interrelationship of the two economic shocks is an important consideration for Ireland’s short-term economic prospects.   Accordingly, my Department has, along with the ESRI, conducted an analysis of the sectoral overlap of the COVID-19 and no deal Brexit shocks. The main finding...

Written Answers — Department of Finance: Renewable Energy Generation (29 Sep 2020)

Paschal Donohoe: The 2019 Climate Action Plan charts an ambitious pathway to reduced carbon emissions by 2030 which includes a series of measures to phase out fossil fuel usage across all sectors while the Programme for Government augments the Climate Action Plan by committing to reduce emissions by an average of 7 per cent per annum through the decade. If the Deputy is seeking information in...