Results 32,641-32,660 of 33,289 for speaker:Paschal Donohoe

Seanad: Ireland's Economic Outlook: Statements (28 May 2025)

Paschal Donohoe: I thank the Cathaoirleach for the opportunity to speak in the Seanad this afternoon on the economic outlook for our country. As a former Member of this House, it is always an honour to be here. Before I discuss the Irish economic outlook, it is important to underline the global environment we are in. As all Senators will be aware, uncertainty is now the dominant feature of the world...

Seanad: Ireland's Economic Outlook: Statements (28 May 2025)

Paschal Donohoe: No.

Seanad: Ireland's Economic Outlook: Statements (28 May 2025)

Paschal Donohoe: I have taken careful note of all the points Senators made. I will deal with each of them in turn and offer a few thoughts in response. Senator Joe O'Reilly made the important point that anything achieved by this Government or previous Governments, let alone the Oireachtas, is nearly entirely due to the buy-in of the Irish people. I go a stage further and say it is nearly entirely due to...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Estimates for Public Services 2025
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (28 May 2025)

Paschal Donohoe: I thank the Cathaoirleach for the opportunity to appear before the committee today to discuss the 2025 Revised Estimates. As Minister for Finance, I will be discussing the four Votes within the finance group of Votes. These are: Vote 7 - Department of Finance; Vote 8 - Office of the Comptroller and Auditor General; Vote 9 - Office of the Revenue Commissioners; and Vote 10 - the Tax Appeals...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Estimates for Public Services 2025
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (28 May 2025)

Paschal Donohoe: I thank Deputy Nash. I will deal with each of his questions in turn. In respect of the current status of the Disabled Drivers Medical Board of Appeal, particularly in the context of the scheme it oversees and for which my Department has responsibility, as the committee will be aware, all of the board members who were in place resigned in November 2021. Subsequently, five new members were...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Estimates for Public Services 2025
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (28 May 2025)

Paschal Donohoe: I thank Deputy O’Callaghan for his three questions. I will begin by addressing the issue of consultancy and the use of outside consultants and industry experts. The majority of the consultancy requirement in 2025 is caused by the need for Revenue to employ outside consultants for complex tax appeal cases. This is primarily concentrated in the work Revenue does with large corporate...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Estimates for Public Services 2025
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (28 May 2025)

Paschal Donohoe: Which question was that?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Estimates for Public Services 2025
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (28 May 2025)

Paschal Donohoe: My colleagues here inform me that the issue relates more to the volatility of the figure rather than it necessarily being a sustained increase. Again, if Deputy O'Callaghan is interested in this, which I am sure he is, I can come back to him with more information on it. The team here inform me that the costs go up and down in any given year. If it has gone up now, it is likely to be...

Written Answers — Department of Finance: Real Estate Investment Trusts (27 May 2025)

Paschal Donohoe: The rules relating to Real Estate Investment Trusts (REITs) in Ireland are contained in Part 25A of the Taxes Consolidation Act 1997. The purpose of the REIT regime is to allow for a collective investment vehicle which provides a comparable after-tax return to investors as direct investment in rental property, by eliminating the double layer of taxation at corporate and shareholder level...

Written Answers — Department of Finance: Insurance Industry (27 May 2025)

Paschal Donohoe: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. I would like to thank the Deputy for engaging with officials in the Department of Finance to clarify that his question relates to ensuring that all home insurance policy providers secure a no claims confirmation from the...

Written Answers — Department of Finance: Public Procurement Contracts (27 May 2025)

Paschal Donohoe: My Department does not report specifically on framework-based procurement in the annual Appropriation Account (The Account). The Account is prepared in accordance with the guidance set out in the annual circular issued by the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation (most recently Circular 20/2024: Requirements for Appropriation Accounts...

Written Answers — Department of Finance: Public Procurement Contracts (27 May 2025)

Paschal Donohoe: The Department is unable to provide the requested information in the timeline available and a follow up response will be provided in line with standing orders. Regarding the bodies under the aegis of my Department, relevant bodies have provided the information below. The Central Bank was unable to provide the requested information in the timeline available; a follow up response will be...

Written Answers — Department of Finance: Public Procurement Contracts (27 May 2025)

Paschal Donohoe: I can advise the Deputy of the following instances of drawdowns in my department and its agencies where publications of contract award notices on the eTenders portal did not occur and the reasons why: Department of Finance. Contract commencement date Description Status/reason 27/06/2023 Financial Advisor Panel RFT - HBFI MEOP Concentration...

Written Answers — Department of Finance: Housing Schemes (27 May 2025)

Paschal Donohoe: As outlined in my response to Parliamentary Question No. 483 of 13 May 2025, Section 477C(1) TCA 1997 defines a ‘qualifying residence’ as a new building which was not, at any time, used, or suitable for use, as a dwelling. Section 477C(17)(b) TCA 1997 provides for a claw back of HTB where the minimum occupation period of five years is not met. This claw-back provision is not...

Written Answers — Department of Finance: Credit Unions (27 May 2025)

Paschal Donohoe: Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 March 2023, 31 March 2024 and 31 March 2025 respectively: 2023 - The amount outstanding in house lending was €364.9m with an average loan size of €92,825. 2024 - The amount outstanding in house lending was €614.9m with an...

Written Answers — Department of Finance: Credit Unions (27 May 2025)

Paschal Donohoe: Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 March 2023, March 2024 and 31 March 2025 respectively: 2023 – The amount outstanding in business lending was €151.45m with an average loan size of €20,764. 2024 – The amount outstanding in business lending was...

Written Answers — Department of Finance: Credit Unions (27 May 2025)

Paschal Donohoe: Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 March 2023, 31 March 2024 and 31 March 2025 respectively: 2023 - The amount outstanding in personal lending was €5.261bn with an average loan size of €8,509. 2024 - The amount outstanding in personal lending was €5.814bn...

Written Answers — Department of Finance: Credit Unions (27 May 2025)

Paschal Donohoe: Firstly, I should clarify that I as Minister for Finance cannot give legal advice nor can I comment on individual cases. Similarly, the Central Bank is not in a position to provide legal advice or interpretative advice on legislation to the firms it regulates. However, I have set out some points in relation to your question below. In accordance with Section 53 of the Credit Union Act 1997...

Written Answers — Department of Finance: Tax Code (27 May 2025)

Paschal Donohoe: I am informed by Revenue that an approved retirement fund (ARF) is a post-retirement investment vehicle from which the proceeds of a pension fund can be paid into at retirement. ARFs are managed by a Qualified Fund Manager (QFM) who acts as the administrator for the fund. The ARF holder may draw down from their ARF at will, subject to income tax under Schedule E in the year of assessment. ...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Financial Services (29 May 2025)

Paschal Donohoe: As I already outlined in the House earlier this week, the Central Bank does not sell or oversee the sale of Israeli bonds. It is important to be clear as to the role of the Central Bank because it has been misrepresented repeatedly. To be clear again, the Central Bank's role under EU legislation is to assess the bond prospectus to ensure that it includes all the disclosure requirements of...