Results 16,801-16,820 of 32,983 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector Regulation (14 Feb 2019)

Paschal Donohoe: "Shadow banking" is a term used to describe bank-like activities that take place outside the traditional banking sector. It is also commonly referred to internationally as non-bank financial intermediation or market-based finance. According to the recently published Financial Stability Board’s Global Monitoring Report on Non-Bank Financial Intermediation 2018, as at the end of...

Written Answers — Department of Finance: Personal Injury Claims (14 Feb 2019)

Paschal Donohoe: One of the key areas raised by various stakeholders to the Cost of Insurance Working Group is the level of awards in this country for soft tissue injuries compared with the UK in particular. In addition to the award levels as the Deputy will be aware there can also be significant costs over and above such awards including legal, medical and other costs. Data from the Department of...

Written Answers — Department of Finance: Insurance Costs (14 Feb 2019)

Paschal Donohoe: As the Deputy is aware, the second phase of the Cost of Insurance Working Group (CIWG) project culminated in the publication in January 2018 of the Report on the Cost of Employer and Public Liability Insurance. The Report makes 15 recommendations with 29 associated actions, detailed in an Action Plan with agreed timelines for implementation. The most recent Progress Updatewas published last...

Written Answers — Department of Finance: Irish Fiscal Advisory Council (14 Feb 2019)

Paschal Donohoe: Under the Fiscal Responsibility Act 2012 (the Act), the Irish Fiscal Advisory Council (IFAC) has been assigned the monitoring and assessment functions required of an independent national fiscal institution under the Treaty on Stability, Co-ordination and Governance in the Economic and Monetary Union. The Act establishes the Fiscal Advisory Council and assigns to it responsibility for...

Written Answers — Department of Finance: Carbon Tax Exemptions (14 Feb 2019)

Paschal Donohoe: Decisions in relation to the carbon tax take place as part of the annual budgetary process and decisions on any measures which have the purpose of mitigating the impact of relatively high fuel prices also take place as part of the annual budgetary process. The Energy and Environmental Taxes paper prepared annually for the Tax Strategy Group contains analysis on the carbon tax to...

Written Answers — Department of Finance: Credit Union Lending (14 Feb 2019)

Paschal Donohoe: This Government recognises the important role of credit unions as a volunteer co-operative movement. The Government is also committed to encouraging greater competition in the banking sector and supporting better access to banking and financial services across the country. As the Deputy will be aware, in line with Programme for a Partnership Government commitments my Department and the...

Written Answers — Department of Finance: Brexit Preparations (14 Feb 2019)

Paschal Donohoe: The Government is fully aware of the complexity of the situation and Brexit, in whatever form it takes, will have a negative economic impact on Ireland. Regrettably the UK are leaving the EU and that means that some things are going to change. Planning for this change has been taking place on a whole-of-Government basis since before the UK referendum and the Government has been preparing for...

Written Answers — Department of Finance: Stamp Duty (14 Feb 2019)

Paschal Donohoe: I assume the Deputy is referring to the measure introduced in Finance Act 2017 to allow a farmer to claim relief from stamp duty where he or she both sells and purchases land for the purposes of consolidating an existing farm holding. Although this measure was not commenced until 1 August 2018 by Ministerial Order, it applies to all qualifying transactions that took place on or after 1...

Written Answers — Department of Finance: National Treasury Management Agency Staff (14 Feb 2019)

Paschal Donohoe: It was not possible for the National Treasury Management Agency to provide the information sought in the time available and, therefore, I will make arrangements to provide the information in line with Standing Orders.

Written Answers — Department of Finance: Insurance Costs (14 Feb 2019)

Paschal Donohoe: At the outset, it is important to note that while I am very aware of the financial strain which the cost of insurance is placing upon some consumers and businesses, as Minister for Finance, neither I nor the Central Bank of Ireland has the power to direct insurers on the pricing or provision of insurance products. Indeed, the EU framework for insurance expressly prohibits Member States from...

Written Answers — Department of Finance: Financial Services Regulation (14 Feb 2019)

Paschal Donohoe: I assume that the Deputy intends to refer to licensed moneylenders who lend to people with bad credit histories. Illegal moneylenders operating without licences are a matter for An Garda Síochána. As the Deputy may be aware, Deputy Pearse Doherty initiated a Private Member's Bill which would cap the APR which moneylenders can charge at 36 per cent. As indicated during second stage...

Written Answers — Department of Finance: Budget 2019 (14 Feb 2019)

Paschal Donohoe: A Special Article from the ESRI titled “Budget 2019: tax and welfare changes” was published on Tuesday, 11 December 2018. The article examines the distributional impact of the main tax and benefit changes in the Budget using the ESRI’s SWITCH model. Officials from the Department of Finance received an advance copy of the article one day prior to publication on 10 December...

Written Answers — Department of Finance: Brexit Issues (14 Feb 2019)

Paschal Donohoe: The United Kingdom submitted an instrument of accession to the Convention on Common Transit (CTC) on 30 January 2019.

Written Answers — Department of Finance: Fuel Rebate Scheme (14 Feb 2019)

Paschal Donohoe: The Deputy will be aware that the Diesel Rebate Scheme has been in place since 2013. Under this scheme, Revenue will repay some of the mineral oil tax paid by a qualifying road transport operator on diesel purchases when the diesel is purchased within the State and used in the course of business transport activities in qualifying motor vehicles. The rebate under the scheme applies for...

Written Answers — Department of Finance: Brexit Preparations (14 Feb 2019)

Paschal Donohoe: The Deputy refers to ‘soft technology’. For the purpose of this answer, it is assumed that the Deputy means a ‘soft border’ achieved by way of technological solutions. I am advised by Revenue that there are currently no technological solutions in operation anywhere in the world that would solve the issues needed to avoid a hard border. Therefore there are no...

Written Answers — Department of Finance: Film Industry Tax Reliefs (14 Feb 2019)

Paschal Donohoe: The Deputy will be aware that a number of amendments were made to Section 481 of the Taxes Consolidation Act 1997 as part of Finance Act 2018. I am advised that the office of the Revenue Commissioners carry out a comprehensive programme of ‘outdoor’ compliance operations each year, many of which are carried out on a multi-agency basis, which can include officials from the...

Written Answers — Department of Finance: VAT Rate Application (14 Feb 2019)

Paschal Donohoe: The sale of developed property by a developer, liquidator or any other party is generally liable to VAT at the 13.5% reduced rate.

Written Answers — Department of Finance: Tax Collection (14 Feb 2019)

Paschal Donohoe: I am advised by Revenue that it has reviewed the tax situation of the person in question and is satisfied that underpayments occurred for the years 2014 to 2017 (inclusive). The underpayments arose because the person’s Department of Employment Affairs and Social Protection (DEASP) payments were not correctly taxed. Revenue has confirmed that the outstanding arrears will be...

Written Answers — Department of Finance: Brexit Preparations (14 Feb 2019)

Paschal Donohoe: The Deputy will be aware that Brexit has implications across almost all sectors of the economy. Since the UK referendum, Brexit is an integral part of business planning in the Department of Finance and issues relating to Brexit are mainstreamed across all divisions of my Department. In this context, I meet and engage on an ongoing basis with my officials on issues linked to Brexit. As...

Written Answers — Department of Finance: Economic Data (14 Feb 2019)

Paschal Donohoe: The strong growth recorded over the last number of years has enabled the Irish economy to move from a stage of recovery to a more mature stage in the economic cycle. Importantly growth in the economy has become more broad based in recent years, with both domestic demand and net exports making positive contributions to growth. The latest data from the CSO shows that modified domestic demand...