Results 11,481-11,500 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Deposit Interest Rates (30 Nov 2017)

Paschal Donohoe: In Budget 2017, the then Minister for Finance announced that the rate of DIRT would be reduced by 2 percentage points in each on the subsequent four years so that it would fall by 8 percentage points from its then rate of 41 percent to reach 33 percent in 2020.    Using the 2017 base, the estimated cost of reducing the rate of LAET from 41 percent to 39 percent...

Written Answers — Department of Finance: Tax Data (30 Nov 2017)

Paschal Donohoe: I am advised by Revenue that there are no data available to estimate the cost, uptake or levels of absorption of the measures as set out by the Deputy.

Written Answers — Department of Finance: Fiscal Data (30 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 84 and 85 together. The calculation of fiscal space decouples expenditure growth from revenue developments. Fiscal space represents the additional capacity arising from the permitted expenditure growth rate that is available for expenditure increases and/or tax reductions.  Fiscal space may be increased through the introduction of discretionary...

Written Answers — Department of Finance: Universal Social Charge Data (30 Nov 2017)

Paschal Donohoe: I am advised by Revenue that the following table sets out the estimated first and full years cost to the Exchequer of increasing the USC threshold from €13,000 to the levels set out by the Deputy. USC Threshold First Year Cost €m Full Year Cost €m €60,000 1,173 1,357 €70,000 1,400 1,621 €80,000 1,581 1,832 €90,000 1,728 2,004...

Written Answers — Department of Finance: Tax Reliefs Data (30 Nov 2017)

Paschal Donohoe: It is assumed that the Deputy is referring to the revised Entrepreneur Relief provided for in section 597AA of the Taxes Consolidation Act 1997. I am advised by the Revenue that the cost of the measure would depend on the disposal of relevant gains by taxpayers. However, on the basis of disposals of gains in previous tax years, it is estimated that the cost of increasing this limit to...

Written Answers — Department of Finance: VAT Rate Increases (30 Nov 2017)

Paschal Donohoe: The flat rate addition is designed to compensate non-VAT registered farmers for the VAT incurred by them on the purchases of goods and services. These farmers add this percentage to their prices when selling to VAT registered businesses that subsequently treat the flat rate addition as a normal input VAT in their periodic VAT returns. Under the EU VAT directive, the flat rate addition is...

Written Answers — Department of Finance: Tax Data (30 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 89 to 91, inclusive, together. I am advised by Revenue that the first and full year cost of increasing Group A, B and C thresholds are outlined in the table. Threshold A €310,000 First Year Full Year Increased to €m €m €320,000 7.4 8.5 €330,000 13.8 16.0 €340,000 19.6 22.8 €350,000 24.8 28.9...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (30 Nov 2017)

Paschal Donohoe: The Central Bank of Ireland (Central Bank) has informed me that various lenders offer loans where the interest rate is higher than that generally charged in the market. Although these lenders are commonly referred to as ‘sub-prime lenders’, there is no such regulated category as ‘sub-prime lender’. Retail Credit Firms are authorised to provide credit, in the form...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions Expenditure (30 Nov 2017)

Paschal Donohoe: The Public Service Pension Reduction (PSPR), was introduced on 1 January 2011 under the Financial Emergency Measures in the Public Interest (FEMPI) Act 2011. The PSPR reduces the value of those public service pensions which have pre-PSPR values above specified thresholds. It does so in a progressively structured way which has a proportionately greater effect on higher value...

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Remuneration (30 Nov 2017)

Paschal Donohoe: The 10% reductions in starting pay for certain new entrants were introduced in January 2011 as part of the National Recovery Plan in order to reduce the Public Service Pay Bill by the then Government.  The issue of addressing the difference in incremental salary scales between those public servants, who entered public service employment since 2011 and those who...

Written Answers — Department of Public Expenditure and Reform: Public Service Stability Agreement (30 Nov 2017)

Paschal Donohoe: The cost of the Public Service Stability Agreement 2018-2020 is €887m broken down as follows:  Year Pay Deal Cost 2018 €178m 2019 €370m 2020 €339m There are carryover costs associated with the Agreement of €227m in 2021.  The latest Fiscal Space projections were published in the Summer Economic Statement of 2017: . Subsequent to that the...

Written Answers — Department of Public Expenditure and Reform: Community Employment Schemes Supervisors (30 Nov 2017)

Paschal Donohoe: At the April meeting of the Community Sector High Level Forum, my Department outlined its intention to conduct a detailed scoping exercise in order to comprehensively examine and assess the full potential implications of the issues under consideration. In considering the particular matter referred to, regard must be had to the costs and precedent of such an arrangement were one to be...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I thank the committee for the opportunity to present to it a proposal for two Supplementary Estimates within the Public Expenditure and Reform group: a net Supplementary Estimate of €6.5 million, or a gross figure of €10.5 million, in respect of Vote 12 – Superannuation and Retired Allowances, and a Supplementary Estimate of €664,000 in respect of Vote 17 - Public...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I can respond to the Deputy's second point by saying that the work which needs to take place to overhaul and modernise human resources practices within our public and civil services needs to be led by a line Department. While the Public Appointments Service will be doing various pieces of work in this area, I envisage that it will continue to focus most of its work on appointments and on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: Up to now, we have not been asked to take documents like the forthcoming Public Service 2020 document to the Oireachtas. I will be very happy to circulate it and make everybody aware of it. We are hoping to launch it and have it in place before the end of the year. My number of appearances before the committee is growing, but maybe we can make arrangements with the committee to fit in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I would be eager to launch it internally if possible because a sizeable amount of work has gone into it. I hope this will happen before the end of the year. Maybe I can come before the committee in January to highlight some of the good work that is under way. It is understandable, particularly after the week we have had, that we all hear about the difficulties. I would welcome an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I thank the Chair for recognising that I have to take questions to the Minister for Finance in the Chamber at 10.30 a.m. I agree with almost everything Deputy Burton has said. The first point she made related to the status of public service pensions that are currently being paid. As the Deputy will acknowledge, this is an immensely complicated environment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: The reason for this complexity is simple, but the consequences of it are hugely complicated and multilayered. Broadly, three different pension schemes are in operation for those who joined the public service up to 1995, those who joined between 1995 and the end of 2012 and those who have joined since the start of 2013. The number of people retiring from the public service hit a particular...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: While I have explained what will happen by the end of 2020, of course the kind of amelioration a pensioner will get will depend on when he or she retired. That is where the complication kicks in. Broadly, by the end of 2020, anybody who has a pension of between €50,000 and €53,000 will have the public service pension reduction eliminated. By the time we get to next year,...