Results 9,381-9,400 of 32,864 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: The decision on becoming a member of the group was taken in early 2015. The Department's recommendation that the Minister join the bank was in the second half of last year when Second Stage of the Bill was taken.

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: As the Deputy will be aware, during the Committee Stage debate on the Finance Bill 2016 my predecessor agreed to commission an independent impact assessment of the effects of the help-to-buy scheme incentive for completion prior to budget 2018. Following a competitive tender process, Indecon Economic Consultants was appointed in April to undertake the assessment. The purpose of the project...

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: I have outlined the Government's stance on the matter which has been reiterated by other Ministers who have commented publicly on it recently. The process is as I have outlined. If changes are due to be made to the scheme, I will signal them well in advance understanding the effect my words about the scheme might have on those who are considering using it or may already have applied. To...

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: For one who is concerned about the effects comments could have on the housing market, the Deputy's own suggestion that the uncertainty about the scheme has been increased by me in outlining a process for which his own party looked and to which the Government agreed is not consistent. I have outlined the process which is to evaluate-----

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: I have outlined how it is to work and been very clear that I understand the value of the scheme. I have shared with the Deputy figures that show the help it offers to people who are looking to purchase a home. The Government's position on the matter is very clear. What I am doing is outlining a process that the Deputy sought, indicating how I will use it and recognising that the...

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: I am sure the Deputy will agree with me that our current system of personal taxation, including as it does three separate charges on income, through income tax, USC and PRSI, each with different income bases, reliefs and manners of assessment, is overly complex. It can be difficult for individuals to understand the personal tax system has the potential to lead to an increase in employment...

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: As is the case in advance of all budgets, I have asked my officials to prepare papers examining a range of policy options for the short and medium term, and I will consider these in detail in advance of budget 2018.

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: I will not take any lectures from Sinn Féin on economic competence or economic policy-making. At present, we see the State in a position where it is able to invest back in public services, such as the 975 additional special needs assistants the Minister, Deputy Bruton, will confirm this afternoon, precisely because of a change in our economic circumstances that Sinn Féin said would...

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: I recognise he has the right, but he certainly does not have the track record to comment on the merits of economic policy options being considered by the Government. As I outlined already, I am very clear on what the long-term endpoint will be for the USC. We have a new Minister for Finance and a new Taoiseach. We are entitled to make our assessments of the landing points for important...

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: -----and in the meantime we will look to reduce the cumulative tax burden for employees and citizens in a way consistent with the programme for Government.

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: The Deputy is just disappointed I actually answered his question. To find Sinn Féin coming in here and accusing any other party of taking populist positions on their policy choices is beyond the pot calling the kettle black.

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: The Deputy's party has consistently stood up here and said all could be achieved without the need to make changes in economic policy.

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: The Deputy's party has consistently stood up here over many years, as has Deputy Doherty, and said that the change in circumstances in our country would not happen, that the changes made in economic policy to get our country to this point would not be successful, and that we would not see a return to employment. This has happened. I have outlined to the Deputy my view and the Taoiseach's...

Ceisteanna - Questions (Resumed) - Priority Questions: National Debt Servicing (5 Jul 2017)

Paschal Donohoe: I presume the Deputy is referring to EU-IMF programme-related debt when he asks about renegotiation. This debt accounts for about one quarter of Ireland’s total debt. My Department, in conjunction with the National Treasury Management Agency, NTMA, is constantly looking to avail of any appropriate opportunity for savings on the cost of our EU-IMF programme loans and the...

Ceisteanna - Questions (Resumed) - Priority Questions: National Debt Servicing (5 Jul 2017)

Paschal Donohoe: Greece is still in a bailout programme. It is involved in reducing spending on public services and investment, as well as changing public pensions. We have all that behind us. We have made those changes. We are out of a bailout programme and we are now in a position in which we are able to fund our own debt on a day-to-day basis. We are seeking to pay back money we secured in a bailout...

Ceisteanna - Questions (Resumed) - Priority Questions: National Debt Servicing (5 Jul 2017)

Paschal Donohoe: It is precisely because of the scale of debt we have that the Government has made the decision, as we are gaining money back from our banking system through the sale of a quarter of AIB, for example, to put the money back into reducing our national debt. Being in a position where our national debt grows in an unsustainable way is a threat not only to future generations but also to the...

Ceisteanna - Questions (Resumed) - Priority Questions: Tax Avoidance (5 Jul 2017)

Paschal Donohoe: I assume the Deputy is referring to a recent Circuit Court decision regarding the tax treatment of the transfer of share rights from a company to its shareholders. I am advised by the Revenue Commissioners that section 130(3)(a) of the Taxes Consolidation Act 1997 provides that the transfer of an asset by a company to its members constitutes a distribution for tax purposes. In regard to the...

Ceisteanna - Questions (Resumed) - Priority Questions: Tax Avoidance (5 Jul 2017)

Paschal Donohoe: The answer to the question is contained in the Deputy's own statement. Look at what happened. The Revenue Commissioners became aware of a matter and issued amended tax assessments in regard to it. A challenge was brought to the appeals commissioner and the Revenue Commissioners won. They were then brought to the Circuit Court, where they also won. There was a further appeal. That appeal...

Ceisteanna - Questions (Resumed) - Priority Questions: Tax Avoidance (5 Jul 2017)

Paschal Donohoe: This matter is being tackled and dealt with by the Revenue Commissioners. There would be a plausible case to make that the law needs to be changed if the Revenue Commissioners were losing the appeals or losing their case in the Circuit Court, but they are not. The law and the way the Revenue Commissioners are acting are being upheld by the recent rulings in the way that I have described to...

Other Questions: Tax Yield (5 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 22 and 60 together. Given overall tax performance, I assume the Deputy is referring to income tax, which has performed steadily in the first six months of 2017.  It is up 3.1% or €274 million on the same period last year. However, income tax receipts of €9,045 million, or just over €9 billion, were slightly behind profile, down...