Results 10,521-10,540 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Public Expenditure and Reform: Equality Proofing of Budgets (18 Oct 2017)

Paschal Donohoe: The paper 'Equality Budgeting: Proposed Next Steps in Ireland' was published alongside Budget 2018. The paper is the policy document which provides an overview of the concept of equality budgeting, the progress made in integrating equality budgeting into expenditure management and the estimates process, and the proposed next steps for the introduction of equality budgeting in Ireland. The...

Written Answers — Department of Finance: Tax Code (19 Oct 2017)

Paschal Donohoe: The Office of the Revenue Commissioners is obliged to comply with its statutory tax and duty obligations. In so doing, it is required to apply any changes to tax or USC rates as passed by the Oireachtas. The question of Revenue applying rates other than those set out in statute does not therefore arise. On the topic of ring-fencing tax receipts, from a budgetary perspective any move to...

Written Answers — Department of Finance: Property Tax Yield (19 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 63 and 64 together. I am advised by Revenue that the cost of all claimed exemptions to Local Property Tax (LPT) is estimated to be €12.5m for 2017. The estimated cost associated with the exemptions that are due to expire in 2019 is €3.5m. These estimates include exemptions claimed in respect of properties purchased from a builder or...

Written Answers — Department of Finance: Budget Measures (19 Oct 2017)

Paschal Donohoe: I am advised by my officials that no ex-ante position has been requested from Eurostat from any of the entities referred. It is important to note that Home Building Finance Ireland ('HBFI') has been designed to provide funding to commercially viable developments at competitive market rates and as such both the entity and its activities are expected to satisfy the requirements of an...

Written Answers — Department of Finance: NAMA Operations (19 Oct 2017)

Paschal Donohoe: As announced in my Budget speech on 10 October 2017, it is my intention to establish Home Building Finance Ireland (HBFI) to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty in obtaining debt funding.  HBFI will be a standalone entity which will provide funding directly into the market. HBFI will be designed to leverage...

Written Answers — Department of Finance: Stamp Duty (19 Oct 2017)

Paschal Donohoe: In my Budget 2018 statement I announced an increase in the stamp duty rate for all non-residential property transactions, including agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine I also extended consanguinity relief for another 3 years and provided that the stamp duty rate applying under that scheme will be fixed at 1%....

Written Answers — Department of Finance: Bank Debt Restructuring (19 Oct 2017)

Paschal Donohoe: As the Deputy is aware, the relationship between the Minister for Finance and banks in which the State is a shareholder is governed by Relationship Frameworks, which can be found on my Department's website. In accordance with these Relationship Frameworks, I as Minister for Finance have no direct function in commercial decisions made by the banks, these decisions are...

Written Answers — Department of Finance: NAMA Loan Offers (19 Oct 2017)

Paschal Donohoe: I am advised by NAMA that its lending terms are in line with those available on the open market. The interest rates charged on loans advanced by the Agency typically comprise a margin over Euribor. Some facilities are by reference to the margin NAMA inherited from the participating institution. Typically however, the margin is determined by reference to the risk characteristics of each...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: I am always happy to facilitate Deputy Pearse Doherty.

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 1 and 2 together. I have just concluded my meetings with the CEOs of Bank of Ireland, AIB, Permanent TSB, Ulster Bank and KBC to discuss the tracker mortgage examination. I and the Government are not satisfied with the progress lenders have made to date, and believe that impacted customers should by this time have had their tracker mortgages restored...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: In respect of the desire of the House in relation to accountability over how our citizens have been disgracefully treated in this, I remind Deputies that I made the point a moment ago that the Central Bank has already imposed a fine on Springboard in respect of this and other matters. It is my strong view that the manner in which banks have handled the probe for the Central Bank, and the...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: I have it very clear that the behaviour of the banks in terms of their failure to return moneys properly due to people is unacceptable. The hurt and harm that has been caused to citizens as a result of the manner in which the banks have handled this issue is not acceptable to me as Minister for Finance and as a shareholder in a number of these banks. I have heard much talk of cohorts and...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: Ireland does not accept the Commission’s analysis in the Apple state aid decision.

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: However, we have always been clear that the Government is fully committed to ensuring that recovery of the alleged Apple state aid takes place without delay and we have committed significant resources to ensuring this is achieved. Irish officials and experts have been engaged in intensive work to ensure that the State complies with all its recovery obligations as soon as possible and they...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: I am not sure on what evidence the Deputy can conclude that I am in any way delaying on this issue. In terms of relevant timeframes, it has previously been the case that when a member state has co-operated in good faith with an understanding or direction from the Commission, the Commission will actively engage with the member state for at least two years before initiating proceedings in that...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: I have indicated a timeline to the European Commission for the potential resolution of the matter. One of the reasons I cannot publicly indicate the likely point at which it will be concluded is we are having discussions and negotiations with a company in this regard and those have to conclude in a manner satisfactory for both parties. I aim to conclude the process as soon as possible,...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: In 2011 the rate of stamp duty applying to non-residential property transactions was fixed at a flat rate of 2% as a supply-side measure. Budget 2018 increased the rate on such property transactions to 6% as of 11 October 2017. While the commercial property market has now recovered strongly, the recent sharp increase in investment in construction activity poses a risk that this could, if...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: I categorically reject the absolutely unfounded allegations made by Deputy Burton. Because she agrees with the decision I made, she can do nothing beyond making unfounded and inaccurate allegations regarding my conduct and that of my Department. The decision on this matter was treated with the utmost sensitivity by my officials and me. During the time period to which the Deputy refers,...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: I again reject the allegation the Deputy has made. If, in the context of this measure, the best she can do is infer that I or my Department engaged in behaviour for which she has no evidence whatsoever, it points to the poverty of ideas she and the Labour Party are offering regarding our economy and how all of us want to move it forward. This is the right policy measure to put in place....

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: I think the Deputy is realising just how spurious is the ground on which she is raising this matter. She is now talking about inadvertent leaking in contrast to the serious allegations-----