Results 23,801-23,820 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Apr 2021)

Paschal Donohoe: A number of supports are available to businesses and individuals whose income continue to be impacted by the restrictions that are in place to deal with the public health emergency brought on by Covid-19. Employment Wage Subsidy Scheme The Employment Wage Subsidy Scheme (EWSS) was legislated for under the Financial Provisions (Covid-19) (No. 2) Act 2020 and provides a flat-rate subsidy to...

Written Answers — Department of Finance: Sovereign Debt (21 Apr 2021)

Paschal Donohoe: I welcome the analysis conducted by the Parliamentary Budget Office (PBO) on public debt sustainability. This work provides a strong commentary on the impact of the Covid-19 pandemic on debt levels and the potential implications for the medium and long-term sustainability of the public finances in Ireland. The analysis reinforces aspects of my own Department’s Annual Report on...

Written Answers — Department of Finance: Central Bank of Ireland (21 Apr 2021)

Paschal Donohoe: Under section 33AO the Central Bank Act, 1942 (as amended) provides for the holding of an inquiry into a contravention of financial services legislation by a Regulated Financial Services Provider (RFSP). The participation link in this provision requires the Central Bank to first prove a contravention of financial services legislation against the RFSP before it can take an action against an...

Written Answers — Department of Finance: Central Bank of Ireland (21 Apr 2021)

Paschal Donohoe: I am advised by the Central Bank that while decisions relating to the business model of regulated firms are commercial matters for the boards of those firms, the Central Bank expects them to take a consumer-focused approach in respect of any decision that affects their customers. The Central Bank expects that any decision by a board to close bank branches should be supported by an analysis...

Written Answers — Department of Finance: Financial Irregularities (21 Apr 2021)

Paschal Donohoe: I have noted the issues raised in the February 2021 FACTI Panel Report. Illicit financial flows drain resources from sustainable development, exacerbate inequalities, weaken governance and damage public trust. The FACTI Panel has made recommendations for tackling illicit financial flows. As a long-standing member of the international Financial Actions Task Force (FATF) and an EU Member...

Written Answers — Department of Finance: Credit Unions (21 Apr 2021)

Paschal Donohoe: The Central Bank have informed me that they cannot comment on the position regarding individual credit unions. However, the Central Bank have informed me that in relation to distributions to members, which can take the form of payment of dividends and/or loan interest rebates, credit unions must comply with specific requirements set out in the Credit Union Act, 1997 (the 1997 Act)....

Written Answers — Department of Finance: Probate Applications (21 Apr 2021)

Paschal Donohoe: The electronic filing of probate applications has been introduced as part of the modernisation of the probate application process. The Statement of Affairs (Probate) Form SA. 2 must be completed as the first step in applying to the Probate Office of the High Court for a Grant of Representation and can be submitted through Revenue myAccount or Revenue Online Service ROS. I am informed by...

Written Answers — Department of Finance: Cabinet Committees (21 Apr 2021)

Paschal Donohoe: The Government has prioritised the reform of the insurance sector in order to improve the cost and availability of this key financial service, including for businesses. The Action Plan for Insurance Reform sets out 66 actions in this regard across several policy areas, including my Department, with 95% due to be completed by the end of 2021. The Sub-Group of the Cabinet Committee on...

Written Answers — Department of Finance: Banking Sector (21 Apr 2021)

Paschal Donohoe: Since the introduction of the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015, credit servicing firms have been subject to the provisions of Irish financial services law that apply to regulated financial services providers, including but not limited to: - The Consumer Protection Code, - the Code of Conduct for Mortgage Arrears, - the Central Bank (Supervision...

Written Answers — Department of Finance: Legislative Measures (21 Apr 2021)

Paschal Donohoe: The function of Financial Services and Pensions Ombudsman (FSPO) is to investigate complaints made against financial service providers and pension providers in an appropriate manner, proportionate to the nature of the complaint, by informal means, mediation or formal investigation including Oral Hearings if required. To be eligible to make a complaint to the FSPO, the person making the...

Written Answers — Department of Finance: Tax Reliefs (21 Apr 2021)

Paschal Donohoe: The annual cost of tax relief on approved training courses or third level education fees for each of the years 2004 to 2018 (the latest available year) are set out in Revenue’s Cost of Tax Expenditures Publication, which is available on the Revenue website. This data is summarised as follows. I am advised by Revenue that data in relation to private colleges are not separately available...

Written Answers — Department of Finance: Bank Charges (21 Apr 2021)

Paschal Donohoe: As the Deputy is aware, as Minister for Finance I have no role to play in commercial decisions made by any bank, including product pricing and fee structures. This applies equally to the banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of the banks which must be run on an independent and commercial basis. The...

Written Answers — Department of Finance: EU Agreements (21 Apr 2021)

Paschal Donohoe: Ireland’s contributions to the 2021-2027 Multiannual Financial Framework (MFF) are expected to rise over the coming period, from approximately €3.25 billion in 2021, to approximately €3.95 billion in 2027, an average of €3.6 billion per annum. Data on Ireland’s EU Budget receipts are published annually, for the previous year, in my Department’s...

Written Answers — Department of Finance: Insurance Coverage (21 Apr 2021)

Paschal Donohoe: I note that the details supplied by the Deputy refers to a situation involving insurance for a specific dance school. As Minister for Finance, I am not in a position to comment on individual cases. Neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis....

Written Answers — Department of Finance: Tax Code (21 Apr 2021)

Paschal Donohoe: In general, payments from the Department of Social Protection (DSP) are taxable sources of income unless they are specifically exempt from income tax. In situations where a person is in receipt of both a private pension and a State pension from DSP, the tax due on the DSP payment is collected by reducing the annual tax credits attributed to the private pension. I am advised by Revenue...

Written Answers — Department of Finance: Mortgage Lending (21 Apr 2021)

Paschal Donohoe: Since the COVID-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. In relation to the particular issue of new mortgage lending, the main retail banks previously confirmed that they are considering mortgage applications and mortgage drawdowns in relation...

Written Answers — Department of Finance: Value Added Tax (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 496, 519 and 521 together. The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. Under the EU VAT Directive it is not permissible to differentiate between the supply of different types of residential property, such as apartments and housing, for the purpose of applying VAT rates. While most Member states...

Written Answers — Department of Finance: Banking Sector (21 Apr 2021)

Paschal Donohoe: The European Central Bank Governing Council sets its key policy rates with a view to achieving price stability. Monetary policy rates are currently low to ensure that financing conditions remain favourable for households, firms and governments and to support the economy through the pandemic. This is a commercial matter for individual Irish banks to set their own deposit rates, having...

Written Answers — Department of Finance: State Savings Schemes (21 Apr 2021)

Paschal Donohoe: I note the Deputy's query in relation to the introduction of a scheme in Ireland similar to the UK ISA scheme and the TFA scheme in Canada. In this regard, I would highlight that the National Treasury Management Agency (NTMA), through State Savings products, already offers a wide range of tax free savings products to the general public, including Prize Bonds and fixed rate savings...

Written Answers — Department of Finance: Insurance Industry (21 Apr 2021)

Paschal Donohoe: The Government has prioritised the reform of the insurance sector in order to improve the cost and availability of this key financial service, including for businesses. The Action Plan for Insurance Reformsets out 66 actions in this regard across several policy areas, including my Department, with 95% due for completion by end 2021. At a recent Government meeting, the Cabinet reflected upon...