Results 9,461-9,480 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Economic Competitiveness (5 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 84 and 87 together. Over the past few years consumer price inflation has been near zero in Ireland and in the euro area more generally. In 2016 annual inflation in Ireland – as measured by the Harmonised Index of Consumer Prices (HICP) was slightly negative at -0.2 per cent. Despite the boost earlier in the year – when inflation was...

Written Answers — Department of Finance: Economic Growth (5 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 85, 90 and 95 together. My Department's most recent economic forecasts were published in the 2017 Stability Programme Update. Real GDP growth of 4.3 per cent was projected for this year while growth is forecast to average 3 per cent over the period 2018 – 2021. These forecasts have been endorsed by the Irish Fiscal Advisory Council. However,...

Written Answers — Department of Finance: Economic Growth Rate (5 Jul 2017)

Paschal Donohoe: Ireland was the fastest growing economy in the EU in 2016.  Real GDP growth in Ireland was 5.2 per cent in 2016 compared with real GDP growth in the EU economy and euro area economy of 1.9 per cent and 1.8 per cent, respectively.  In 2016 Ireland was the second fastest growing economy among the OECD member countries, which includes both EU and non EU countries. Total economic...

Written Answers — Department of Finance: Brexit Issues (5 Jul 2017)

Paschal Donohoe: The Department of Finance has been assessing and preparing for the impact of a UK exit from the European Union since well before the referendum on 23 June 2016. Work was carried out in the Department to assess the potential economic and financial sector implications arising, including through the ESRI-Department of Finance research programme study published in November 2015 titled 'Scoping...

Written Answers — Department of Finance: Brexit Negotiations (5 Jul 2017)

Paschal Donohoe: The Government’s priorities for the EU-UK negotiations have been clearly stated. They are minimising the impact on Ireland's trade and economy, protecting the Northern Ireland Peace Process, maintaining the Common Travel Area, and influencing the future of the European Union. A critical part of the Government’s strategy and preparations for the negotiations has been to...

Written Answers — Department of Finance: Eurozone Issues (5 Jul 2017)

Paschal Donohoe: As Minister for Finance, I attend the Economic and Financial Affairs Council of the European Union (ECOFIN) which is responsible for EU policy in areas including economic policy.  I also attend meetings of the Eurogroup, where the ministers of the euro area member states discuss matters concerning their shared responsibilities related to the euro. Its main task is to ensure...

Written Answers — Department of Finance: Credit Availability (5 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 92 to 94, inclusive, together. As the Deputy is aware, supporting SMEs, including those in the agricultural and business community, in terms of access to finance has been a cornerstone policy for Government in our efforts to rebuild the economy and bring back jobs. Government policy is focused on ensuring that all viable SMEs have access to an appropriate...

Written Answers — Department of Finance: VAT Rate Application (5 Jul 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners that VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. A basic principal of VAT is that the final consumer bears the cost of the VAT charge; registered traders recover VAT on their input costs and charge VAT on their supplies. Where a taxable person is engaged in making taxable supplies...

Written Answers — Department of Finance: Official Engagements (5 Jul 2017)

Paschal Donohoe: The Department of Finance and the Department of Public Expenditure and Reform hosted the National Economic Dialogue on 28 and 29 June 2017 in Dublin Castle. The Dialogue was an opportunity to consider how to make best use of the available resources in the interests of all citizens. The aim was to foster discussion on how best to sustain and strengthen the recovery in the interests of all...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pay (5 Jul 2017)

Paschal Donohoe: As the Deputy is no doubt aware, my Annual Review of the operation, effectiveness and continued necessity of the Financial Emergency Measures in the Public Interest legislation was laid before the Oireachtas on 29 June. A copy of the report can be found at the following link: In the Review I found that the immediate repeal of the FEMPI legislation is unaffordable. However, the...

Written Answers — Department of Public Expenditure and Reform: Capital Expenditure Programme (5 Jul 2017)

Paschal Donohoe: The Programme for a Partnership Government committed to additional capital investment over the period of the Capital Plan to 2021, to be allocated on the basis of the outcome of the ongoing mid-term review.  As part of the review, submissions were received from Departments and a public consultation process was also undertaken by my Department. Analysis being carried out as...

Written Answers — Department of Public Expenditure and Reform: Garda Stations (5 Jul 2017)

Paschal Donohoe: The new Garda station at Mulgannon Road, Wexford Town is scheduled to be completed and ready for occupation in September 2017. When An Garda Síochána vacate the existing station at Roche’s Road, Wexford, OPW Property Management Division will examine the property to establish if there is any alternative State use for it. I am advised by the Commissioners of Public Works that...

Written Answers — Department of Finance: Financial Services Regulation (6 Jul 2017)

Paschal Donohoe: I have been advised by the Central Bank that regulated entities providing financial services in Ireland are required to comply with the Consumer Protection Code 2012 (the Code).  The Code applies to financial services providers authorised, registered or licensed by the Central Bank; and financial services providers authorised, registered or licensed in another EU or EEA Member State...

Written Answers — Department of Finance: Tax Compliance (6 Jul 2017)

Paschal Donohoe: Section 110 of the Taxes Consolidation Act 1997 sets out the Irish regime for the taxation of special purpose companies set up to securitise assets.  The tax provisions are intended to create a tax neutral regime for securitisation and structured finance purposes.  If the loan origination company is a qualifying company (within the meaning of section 110 TCA 1997) then...

Written Answers — Department of Finance: Sale of State Assets (6 Jul 2017)

Paschal Donohoe: Any proceeds from a sale of shares held in a bank by the State would not result in a beneficial impact to the General Government Balance (GGB) under the European System of Accounts 2010 (ESA 2010) framework. This is due to the fact that it such transactions are classified as a 'financial transaction' whereby it is essentially the exchange of one form of asset (shares, equities,...

Written Answers — Department of Finance: Irish Strategic Investment Fund (6 Jul 2017)

Paschal Donohoe: The NTMA has advised me that a fundamental aspect of the Ireland Strategic Investment Fund’s (the “Fund”) mandate is, as a commercial investor on behalf of the State, to act as a catalyst for co-investment in the Irish economy from private sector capital.  Accordingly the Fund structures its investments in a commercial manner and it is essential that it do so if it...

Written Answers — Department of Finance: Universal Social Charge Yield (6 Jul 2017)

Paschal Donohoe: The position is that officials from my Department and the Revenue Commissioners have been reviewing the USC performance. As part of the review, my Department and Revenue have re-examined the Budget 2017 USC costings, and are satisfied that the costings are as accurate as possible given the complexities involved in forecasting. Furthermore, as part of the continuous efforts to improve...

Written Answers — Department of Finance: Tracker Mortgages Examination Data (6 Jul 2017)

Paschal Donohoe: Revenue administers mortgage interest relief in accordance with Section 244 of the Taxes Consolidation Act 1997. The level of relief applied by lenders to each case is based on the applicable ceiling, the rate of relief allowable and the percentage of the loan that qualifies for the relief. The information required by the lenders to ensure that the correct level of relief is applied is...

Written Answers — Department of Finance: Financial Services Sector (6 Jul 2017)

Paschal Donohoe: Contingency planning for Brexit has been ongoing at all levels of Government well in advance of the UK EU referendum in June 2016. Ireland has a successful track record of competing for, and winning, global foreign direct investment. One of the key pillars of that success is the growth of the International Financial Services (IFS) sector, in particular over the past 30 years. Ireland is now...

Written Answers — Department of Finance: VAT Yield (6 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 74 and 75 together. I am advised by the Revenue Commissioners that 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 2006/112/EC it is not possible to introduce a zero rate of VAT on any good or service that had not already applied at the zero rate of VAT on and from 1 January...