Results 11,661-11,680 of 32,892 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Banking Sector (14 Dec 2017)

Paschal Donohoe: As the Deputy will be aware, the State currently owns c. 71% of the shares in AIB, 14% of the shares in Bank of Ireland, and c. 75% of the shares in Permanent TSB. Following the IPO of AIB earlier this year all three of our bank investments are now listed on the main markets of the Irish and London stock exchanges, providing improved liquidity and marketability for the State's shares. The...

Written Answers — Department of Finance: Employment Investment Incentive Scheme Data (14 Dec 2017)

Paschal Donohoe: I propose to take Questions Nos. 83 and 84 together. The Employment and Investment Incentive (“EII”) applies to financing raised by micro, small and medium sized enterprises (being the company seeking to raise financing and all other associated companies). Where the enterprise and the investment meet certain conditions, it can raise financing from individual investors, who can...

Written Answers — Department of Finance: Mortgage Interest Relief Application (14 Dec 2017)

Paschal Donohoe: I propose to take Questions Nos. 85 and 86 together. In Budget 2018, in fulfilment of a Programme for Government commitment, I provided for the extension of Mortgage Interest Relief (MIR) into a further three-year phase-out period for the remaining recipients of the relief. The process of phasing out MIR for homeowners has been under way since 2009. Relief has expired for...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (14 Dec 2017)

Paschal Donohoe: The NTMA have supplied the information requested by the Deputy in the form of the following table: Directed Total Discretionary Irish Global 2015* 16.6% 1.5% 12.3% 0.1% 2016 -7.9% 2.9% 6.5% 2.2% YTD Sep 2017 14.7% 3.0% 3.4% 2.9% Annualised since inception 8.0% 2.7% 7.9% 1.9% *Inception 21 Dec 2014 to end 2015 Notes: The Discretionary Portfolio seeks to generate a return,...

Written Answers — Department of Finance: Tax Data (14 Dec 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners that information in respect of the annual cost of the Research and Development (R&D) credit and the number of companies availing of the scheme is as follows: Year 2015 2014 2013 2012 €m 707.9 553.3 421.4 281.9 No. of Companies 1,535 1,570 1,576 1,543 This information is available at...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (14 Dec 2017)

Paschal Donohoe: The ISIF have informed me that the Activate Capital is a €500 million fund, which is financed through a €325 million loan note from the Ireland Strategic Investment Fund (ISIF) and a €175 million loan note provided from KKR.  It became operational in January 2016 with funding provided by Activate for 3,600 houses as at September 2017. As...

Written Answers — Department of Finance: Tax Data (14 Dec 2017)

Paschal Donohoe: The positionis that at end-November 2017, cumulative income tax receipts of €18,283 million were marginally down 1.4 per cent or €251 million against profile.This represents strong annual growth of 4.2 per cent or €738 million. Furthermore, it is also worth pointing out that there were significant one-off income tax payments in the comparable period last year,...

Written Answers — Department of Finance: Knowledge Development Box (14 Dec 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners, that the Knowledge Development Box (KDB) only applies for accounting periods commencing on or after 1 January 2016. The claimant company has a period of up to 24 months to make a claim for relief under the KDB. A small number of companies (less than 10) whose accounting periods ended on or before 31 December 2016 have...

Written Answers — Department of Finance: NAMA Portfolio (14 Dec 2017)

Paschal Donohoe: I propose to take Questions Nos. 92 and 126 together. I wish to advise the Deputy that there has been no change to NAMA’s expectation that it will complete its work by 2020. The Agency announced in October that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State. However, notwithstanding the successful achievement of this primary and...

Written Answers — Department of Finance: EU Budget Contribution (14 Dec 2017)

Paschal Donohoe: As the Deputy will be aware, negotiations are currently on-going. Therefore, as you can appreciate, it would not be appropriate for me to discuss those negotiations in detail at this point. Ireland wants a financial settlement reached in a fair and transparent manner on the basis of an agreed, objective methodology, that enables a positive future relationship between the EU and the UK...

Written Answers — Department of Finance: EU Budget Contribution (14 Dec 2017)

Paschal Donohoe: As the Deputy will be aware and as outlined in the table, Ireland became a net contributor to the EU budget in 2014. EU budget payments and public sector receipt data are published annually by the Department of Finance in the Budget Statistics publication. The public sector receipt measure captures funds under 'shared management' between national and EU authorities. In addition, the EU...

Written Answers — Department of Finance: IBRC Expenditure (14 Dec 2017)

Paschal Donohoe: A summary of the Special Liquidation fees, including legal fees to 31 December 2016 is available in the most recent progress update report which is available on the Department of Finance website The Special Liquidators do not believe that it would be appropriate to provide the requested details regarding all Counsel engagements by IBRC since their appointment, particularly given...

Written Answers — Department of Finance: Banking Sector Data (14 Dec 2017)

Paschal Donohoe: I am informed by the Central Bank that it has set targets for the banks to achieve in terms of issuance of €10, €20 and €50 notes from non-retailer ATMs by 2018, with a view to making lower denomination notes more available to cash users. These targets were calculated following a study of the requirements of consumers, given patterns of cash usage.  The targets...

Written Answers — Department of Finance: Mortgage Data (14 Dec 2017)

Paschal Donohoe: I am informed by the Central Bank that under the category of Non-Bank Entities unregulated loan owners, there are 11,894 mortgage accounts outstanding for PDH with a balance of €2.2bn. For BTLs, there are 5,729 mortgage accounts outstanding with a balance of €1.58bn. The link to The Statistical Release for Residential Mortgage Arrears and Repossessions Statistics: Q2 2017 is...

Written Answers — Department of Finance: Small and Medium Enterprises Data (14 Dec 2017)

Paschal Donohoe: I have been informed by the Central Bank that it does not routinely publish specific data on entities who are not regulated by the Central Bank and it is therefore not possible to provide the numbers requested by the Deputy. I would however refer the Deputy to the Report on Mortgage Arrears which the Central Bank provided to the Minister for Finance in June 2016 () which provides details of...

Written Answers — Department of Finance: Mortality Data (14 Dec 2017)

Paschal Donohoe: I am informed by the Central Bank that there is no such regulated category as ‘sub-prime lender’.  Retail Credit Firms are authorised to provide credit, in the form of cash loans, directly to individuals (these firms are not licensed to accept deposits).  Some firms authorised in this category are mortgage lenders.  Retail Credit Firms have been subject to...

Written Answers — Department of Finance: Central Bank of Ireland Data (14 Dec 2017)

Paschal Donohoe: I have been informed by the Central Bank that it does not maintain a record of the number of commercial loans sold on by the original underwriter. Portfolio sales are considered as part of normal supervisory engagement where they are sufficiently material.  Typically with an asset loan sale, in circumstances where there are permissible contractual terms which allow the sale of...

Written Answers — Department of Finance: Credit Register Establishment (14 Dec 2017)

Paschal Donohoe: The Central Bank has advised me that the Central Credit Register (CCR) is being implemented on a phased basis with phase 1 focusing on lending to consumers and phase 2 focusing on moneylenders, local authorities and business lending. The period for data submission by lenders for phase 1 runs from 30 June 2017 to 31 December 2017.  During this period, technical and operational...

Written Answers — Department of Finance: Personal Contract Plans (14 Dec 2017)

Paschal Donohoe: Personal Contract Plans (PCP) are a form of Hire Purchase and both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the provision of hire-purchase agreements. The CCPC is responsible under the Consumer Credit Act 1995, for the authorisation of credit intermediaries, some of whom may...

Written Answers — Department of Finance: Financial Services Regulation (14 Dec 2017)

Paschal Donohoe: As the Deputy is aware, anyone wishing to engage in the business of moneylending requires a licence from the Central Bank in accordance with the Consumer Credit Act 1995 and this licence must be renewed every year. Consumers of licensed moneylenders are protected by a range of provisions that moneylenders must adhere to, including but not limited to, the Consumer Protection Code for...