Results 28,401-28,420 of 33,214 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Paschal Donohoe: It is important to be clear on the possible costs of this. I have outlined what the cost was in 2008. The most recent data, from the end of June, indicate there are currently 720,000 mortgage accounts with an average outstanding balance of €137,100 at an interest rate of 2.5%. Assuming mortgage interest relief was granted at a rate of 20% on the average interest payment, such a...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Paschal Donohoe: I understand hard-pressed households are looking to the Government for help, which we provided in budget 2023 and which we want to provide to make a difference. However, those hard-pressed households, the citizens of Ireland who are experiencing such strain, also have an expectation that any proposals that will be brought forward will be affordable, will make sense and will not create new...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Paschal Donohoe: Many of those proposals were contained in the Sinn Féin budget proposal, which is no longer available. It has disappeared from the party's website. If I want to find out about Sinn Féin's budget proposals for 2022, they are still available. If I want to find out about its proposals for the budget we are debating, they are gone. Why are they gone? The reason they are gone is...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Paschal Donohoe: I thank the Deputy for raising that point. Yes, of course we are monitoring the impact that rising interest rates are having on the cost of living and on families, households and businesses. The Central Bank has not approached me looking for additional powers or tools to deal with the consequences of that impact. As the Deputy will be aware, the code of conduct on mortgage arrears...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Paschal Donohoe: Very much so. As I said, we will continue to monitor the adequacy of the consumer protection code that is in place. I believe, however, that it is robust and that the Central Bank and other authorities will take very carefully their responsibilities to ensure that borrowers who find themselves in positions of distress receive the necessary information and are made aware of the options...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Paschal Donohoe: It is worthwhile acknowledging, as the Deputy has done, that we have not seen recent decisions made that have led to abrupt changes to interest rates available. I agree, however, with one of the Deputy's points, that is, that in the time ahead it will continue to be important to monitor competitive changes within our marketplace. He is correct in acknowledging that because of the move in...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: I thank the Deputy for raising this important matter. As he will know, the decision on the defective concrete products levy arose from the decision of November 2021 to respond to the great harm that has been caused to so many people, including many of the Deputy's constituents, due to the presence of mica in their homes and buildings. As part of the work undertaken on the impact the levy...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: The Deputy talks about documents that follow but I want to go back to the document he published before budget day. I ask him again where it is now. I am asking him this because it concerns a key point. The reason I am making a case for the levy – conscious of all the risks the Deputy referred to, because I accept they exist – is that the greater risk would be to pretend to...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: I did google the alternative budget on the way here. What came up was the alternative health budget. Maybe between my doing that and taking these parliamentary questions, all the Deputy's colleagues in the Balkans will be changing all the time. The alternative budget of the Deputy was not available this morning and is not available on his party's website.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: To go back to the core point, of course I want to make money available to help all the poor families who have been affected by mica. I have met them, although I accept I have not met as many as the Deputy. Of course I want to make money available to help those who are affected by rising rents and the rising cost of living, but the money has to come from somewhere. The money has to be available.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: If you are making the case for leading the Government and being responsible for public finances, you need to explain where the money is coming from.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: If you do not, you are a source of risk-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: If you do not, you run the risk of inflicting on this economy and our jobs the kind of risk-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: I will keep coming back to the question of where the Deputy's budget is. Where has it gone? What has changed in the past few days?

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Paschal Donohoe: It is anything but entertaining.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Vacant Properties (10 Nov 2022)

Paschal Donohoe: I thank Deputy Shortall. I am aware that she has been raising this issue for some time. I have little doubt at all that if I wanted to have a look at her budget proposals, they would be freely and publicly available. The vacant homes tax, VHT, is a new measure announced in budget 2023 that aims to increase the supply of homes for rent or purchase to meet demand. Further detail on this...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Vacant Properties (10 Nov 2022)

Paschal Donohoe: I thank the Deputy very much. In deciding what the rate was going to be, I did, of course, consult with my colleagues and my officials on it. My judgment, based on the engagement that I had with them, was that a new charge that is multiples of an existing tax, is a proportionate and sufficient charge for the harm to the common good of homes that could have somebody living in them but do...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Vacant Properties (10 Nov 2022)

Paschal Donohoe: A punitive tax of 10% would mean that the cost to such a property holder would be many thousands of euro. I look forward to hearing the Deputy make the case on Committee Stage of the Finance Bill. Regarding the charge she made about the level of vacant homes in the country, as she will be aware, the recent census indicated that there are 166,752 vacant homes nationwide. This is 7.8% of the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (10 Nov 2022)

Paschal Donohoe: I thank the Deputy very much. As she will be aware, the details of the new TBESS are set out in the Finance Bill, which will begin Committee Stage later today. The scheme will provide support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023. The TBESS will be available to tax-compliant businesses carrying on a trade or...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (10 Nov 2022)

Paschal Donohoe: I must be honest with the Deputy. We can help, in particular with the energy costs, but no government should give the indication to the people of Ireland and the economy that we can cover or insulate any business from all of the cost changes that are going on at the moment. I know the Deputy recognises that. While she was perhaps not calling on me to do it, she was putting the energy costs...