Results 24,201-24,220 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 86 and 377 together. The retail financial services sector is undergoing a major period of change. This year so far we have seen several major announcements including the withdrawal of Ulster Bank by Nat West and the potential withdrawal of KBC Bank Ireland, the forthcoming closure of a large number of bank branches by Bank of Ireland and a smaller number...

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 87 and 125 together. The Central Bank of Ireland, as part of its independent mandate to preserve and protect financial stability in Ireland, has statutory responsibility for the regulation of mortgage lending by banks and other regulated entities. In line with this mandate, the Central Bank introduced macroprudential measures for residential mortgage...

Written Answers — Department of Finance: Stability and Growth Pact (15 Jun 2021)

Paschal Donohoe: As the Deputy will be aware, in March 2020 the General Escape Clause (GEC) of the EU’s Stability and Growth Pact was activated for the first time. The clause’s activation temporarily suspends the regular application of the EU fiscal rules, to allow Member States to take all necessary expenditure and taxation measures to combat the spread of the virus. While the activation of...

Written Answers — Department of Finance: Fiscal Policy (15 Jun 2021)

Paschal Donohoe: I note the Fiscal Council’s view on the fiscal forecasts and always welcome the Council’s contribution. As I have stated previously, the Government took the decision to draft the Stability Programme Update (SPU) on a ‘no policy change’ basis in view of the considerable uncertainty around both the trajectory of the pandemic and the pace at which restrictions...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: The Programme for Government - “Our Shared Future”– includes a commitment to bring forward legislation in relation to the Local Property Tax on the basis of fairness and that most homeowners will face no increase in their LPT liability. In addition there is a commitment to bring new homes, which are currently exempt from the LPT, into the taxation system. Accordingly,...

Written Answers — Department of Finance: Fiscal Policy (15 Jun 2021)

Paschal Donohoe: Ireland has committed to addressing issues highlighted in recent Country Specific Recommendations as part of Ireland’s National Recovery and Resilience Plan that has been submitted to the European Commission. The draft Plan, involving projects with a value of almost €1 billion, will enable Ireland to access funding under the EU's Recovery and Resilience Facility which forms...

Written Answers — Department of Finance: National Treasury Management Agency (15 Jun 2021)

Paschal Donohoe: I am informed by the National Treasury Management Agency that the following information has been supplied by the Prize Bond Company: Year Sales €M Prize Money €M Number of Prizes 2018 574.3 16.4 224,474 2019 537.1 17.6 248,140 2020 735.7 ...

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: The withdrawal of Ulster Bank and the potential withdrawal of KBC Bank Ireland (KBC) from the market as well as the decision by Bank of Ireland to close 88 branches in the Republic of Ireland and the decision by AIB to close a smaller number, are regrettable, particularly for their customers and staff and they represent unfavourable developments for the Irish banking market. As the Deputy...

Written Answers — Department of Finance: Tax Credits (15 Jun 2021)

Paschal Donohoe: The purpose of the Stay and Spend Tax Credit scheme was to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions on public health grounds. The scheme ended on 30 April. Since 1 October 2020, a total of 66,058 receipts have been uploaded to the Revenue Receipts Tracker, as at 9 June 2021. The...

Written Answers — Department of Finance: Universal Social Charge (15 Jun 2021)

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. Our redistributive tax system has been acknowledged by the IMF, the OECD and the ESRI. It is my view that a broad-based, progressive income tax system, where the majority of income earners make some contribution but according to their means,...

Written Answers — Department of Finance: Housing Schemes (15 Jun 2021)

Paschal Donohoe: Since inception, HBFI has provided funding to house builders for over 2,400 homes across 17 counties, comprising of approximately 56% houses and 44% apartments. To be clear, HBFI funds the construction of new homes and does not lend to the end buyers of these homes, whether they be institutional funds, Approved Housing Bodies (AHBs), local authorities or other categories of buyer. Based on...

Written Answers — Department of Finance: Ministerial Meetings (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 106 and 313 together. The G7 meeting of Finance Ministers took place in London over two days, under strict Covid-19 guidelines, from Friday 4th to Saturday 5th June. In my capacity as President of the Eurogroup, I was in attendance at the in-person meetings on both days where participants considered coordinated approaches to the key economic challenges...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: The Programme for Government - “Our Shared Future” – includes a commitment to bring forward legislation in relation to the Local Property Tax on the basis of fairness and that most homeowners will face no increase in their LPT liability. In addition there is a commitment to bring new homes, which are currently exempt from the LPT, into the taxation system. ...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 109, 111, 355, 378, 383 and 405 together. The Government has committed on multiple occasions that there will be no “cliff edge” to supports for business. Following the Government meeting on 1 June, I announced a number of measures to provide certainty to businesses as public health restrictions are lifted and allow them to plan for the future...

Written Answers — Department of Finance: Programme for Government (15 Jun 2021)

Paschal Donohoe: The Government recognises the concerns felt around the cost and availability of insurance. As such, timely implementation of the Action Plan for Insurance Reform is high on the Government’s agenda. This sets out 66 actions which aim to bring down costs for consumers and business; introduce more competition into the market; prevent fraud and reduce the burden that insurance costs can...

Written Answers — Department of Finance: EU Funding (15 Jun 2021)

Paschal Donohoe: In the Budget 2021 speech, I announced the Irish Government’s decision to make a formal application to the European Commission for funding under the Support to mitigate Unemployment Risks in an Emergency (SURE) Instrument. The SURE instrument is intended primarily to support Member States with efforts to protect workers and jobs, and also support some health-related measures. ...

Written Answers — Department of Finance: Insurance Coverage (15 Jun 2021)

Paschal Donohoe: It is important at the outset to state that the provision of cover is a commercial matter for insurance companies, based on an assessment of the risks they are willing to accept. As such the Government cannot interfere in the provision or pricing of insurance, or direct as to what cover is provided on. Consequently, neither I nor the Central Bank of Ireland can interfere in this, as...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 114 and 348 together. The Government have provided for a range of sectorial support grant schemes aimed at assisting businesses in financing their fixed costs and focussed on those that have seen a significant decrease in turnover (75%) or are closed by restrictions. As the economy re-opens, it is intended that these direct grants will be replaced with a more...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: I am aware that the International Monetary Fund, in its bi-annual Fiscal Monitor released on 7 April 2021, suggested that countries could consider a temporary Solidarity Tax on high earners and businesses that have prospered during the pandemic. While I understand why some may feel the introduction of such a measure is justified, I would urge caution in calling for the adoption of such a...

Written Answers — Department of Finance: Grant Payments (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 117 and 389 together. A Supreme Court decision of 18th June 2020 found in favour of two appellants against the Disabled Drivers Medical Board of Appeal's refusal to grant them a Primary Medical Certificate (PMC). The judgement found that the medical criteria set out in the Regulations did not align with the regulation making mandate given in the primary...