Results 21,821-21,840 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (29 Sep 2020)

Paschal Donohoe: As the Deputy will be aware, the European Central Bank (ECB) has been the competent authority for issuing banking licences since 2014. Banking licences for institutions to be domiciled in Ireland are only issued once the Central Bank and ECB are satisfied that the business model of an applicant is viable and sustainable. I have been advised by the Central Bank that in the past ten years,...

Written Answers — Department of Finance: Financial Services Sector (29 Sep 2020)

Paschal Donohoe: ‘Ireland for Finance’, launched in April 2019, is a whole of government strategy for the development of the international financial services sector to 2025.  The Strategy is structured around action measures grouped under four pillars: Operating Environment, Technology and Innovation, Talent, and Communications and Promotion. There are also three horizontal priorities which...

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

Paschal Donohoe: In their statistical release on Residential Mortgage Arrears Statistics, the Central Bank publishes a range of data on the number of mortgages and mortgage arrears.  This publication details quarterly developments in the number and value of mortgages in arrears covering all residential properties in Ireland. The collected data covers bank and non-bank entities. All entities...

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

Paschal Donohoe: I am advised by Revenue that the estimated carbon tax receipts for 2020 are €455m (VAT exclusive). This estimate is based on trends seen to date during the year, including the fall in consumption due to COVID-19 restrictions.  With regard to carbon tax receipts over the period 2021 to 2025, this will depend on a number of factors, such as changes in...

Written Answers — Department of Finance: Financial Services Sector (29 Sep 2020)

Paschal Donohoe: In 2015 a strategy was launched called IFS2020: A Strategy for Ireland’s International Financial Services Sector 2015–2020.  New implementation structures were established under that Strategy and the Clearing House Group no longer exists.  This committee structure continues under the most recent Strategy for the development of the international financial services...

Written Answers — Department of Finance: Financial Services Sector (29 Sep 2020)

Paschal Donohoe: In relation to the Deputy's question, I would like to begin by noting that the IFSC Clearing House Group no longer exists.  In its place there is the ‘Joint Committee’ which was established under IFS2020: A Strategy for Ireland’s International Financial Services Sector 2015–2020. The Joint Committee consists of two committees which have continued into the...

Written Answers — Department of Finance: National Debt (29 Sep 2020)

Paschal Donohoe: For the purpose of this reply it is assumed that the Deputy is referring to GNI* rather GNI. The fluctuation in gross general government debt as a proportion of GDP, GNP and GNI* over the past ten years has been two-fold; a steady increase from 2009-2012 contrasted by a sharp decline from 2012-2019, across all three debt ratios. The table below sets out the outturn data in respect of gross...

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

Paschal Donohoe: I wish to inform the Deputy that I currently have no requests to increase staff levels in my Department. During the summer a Unit was put in place in the EU & International Division of my Department to support my role of President of the Euro Group of Finance Ministers. There are currently 7 staff members assigned to this Unit. All requests to increase staff levels in my Department...

Written Answers — Department of Finance: Banking Sector (29 Sep 2020)

Paschal Donohoe: I am aware of the reports that NatWest is engaged in a strategic review of its operations, including those of  Ulster Bank Ireland. The Government has no formal role in such a review or any commercial decisions that result as these are a matter for the Board and Management of the Bank and its parent company, NatWest.  I understand that the process is ongoing and that no...

Written Answers — Department of Finance: Legislative Measures (29 Sep 2020)

Paschal Donohoe: The majority of the Consumer Insurance Contracts Act 2019 came into force from the 1st of September 2020, with 22 of the 27 sections now in operation.  The Act represents a major reform of insurance contracts and re-balances the relationship between consumer and insurer. It is my full expectation this will be positive for Irish consumers. For example, amongst other things, the...

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

Paschal Donohoe: As the Deputy will be aware, on 21stJuly 2020, Heads of State and Government reached agreement on the Post-2020 Multiannual Financial Framework (MFF) and Next Generation EU, totalling €1.82 trillion. Difficult discussions took place over four days, but the Government welcomes this agreement. This is a fair and balanced outcomeand demonstrates that Europe can work collectively to deal...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (30 Sep 2020)

Paschal Donohoe: The purpose of the Stay and Spend scheme 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 providers of...

Written Answers — Department of Finance: Primary Medical Certificates (30 Sep 2020)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The cost of the scheme in 2019, excluding motor tax, was €72m. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain...

Written Answers — Department of Finance: Departmental Correspondence (30 Sep 2020)

Paschal Donohoe: I am advised by Revenue that since the introduction of the pay and file system, self-assessed income taxpayers have been required to pay annually both preliminary tax for the current year and any balance of tax owing for the previous year.  The payment is due by 31 October in a year, or later if paying online via the Revenue Online Service (ROS).  The amount of the preliminary tax...

Written Answers — Department of Finance: Mortgage Lending (30 Sep 2020)

Paschal Donohoe: As the Deputy will be aware, on 18 March last, the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers who were economically impacted by the Covid-19 crisis.  The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially for a period up to...

Written Answers — Department of Finance: Cycle to Work Scheme (30 Sep 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) has now been replaced by the Employment Wage Subsidy Scheme (EWSS), which was legislated for under the recently enacted Financial Provisions (Covid-19) (No. 2) Act 2020.  The specific nature and terms of the EWSS arrangement are separate and distinct from the TWSS.  Where an eligible employer makes a payment of wages, within prescribed...

Written Answers — Department of Finance: Departmental Expenditure (30 Sep 2020)

Paschal Donohoe: I can advise the Deputy that my Department spent €5,688 on media monitoring services for the year 2020 to date from a private contract operator - KANTAR Media Services.

Written Answers — Department of Finance: Credit Availability (30 Sep 2020)

Paschal Donohoe: The Central Bank has indicated that the latest data available for the total car finance market in Ireland - which includes both Irish resident banks and non-banks - is from end-September 2019. At that time, there were 76,153 Personal Contract Plan (PCP) loans outstanding representing a total outstanding stock of €1,456,939,000. In its “Money and Banking”...

Written Answers — Department of Finance: Bank Charges (30 Sep 2020)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities and the imposition of bank fees and charges are decisions to be made by the boards and management of individual banks which need to be run on an independent and commercial basis. The Deputy will be aware that, as Minister for Finance, I have no statutory role in relation to the charges applied by credit...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (30 Sep 2020)

Paschal Donohoe: The specific nature and terms of the Employment Wage Subsidy Scheme (EWSS) are separate and distinct from the Temporary Wage Subsidy Scheme (TWSS) discussed below.  Where an eligible employer makes a payment of wages, within prescribed limits, to a qualifying employee during the scheme, the employer can claim a EWSS subsidy in respect of that employee. The EWSS will re-establish the...