Results 17,041-17,060 of 32,983 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Estimates Process (28 Feb 2019)

Paschal Donohoe: I am sure the Deputy would be looking to spend the surplus immediately.

Ceisteanna Eile - Other Questions: Estimates Process (28 Feb 2019)

Paschal Donohoe: Deputy Burton asked how much the move we have made in relation to deferred accounting will cost this year. We do not have a figure for the cost this year, for the simple reason that if a disorderly Brexit takes place, it will clearly create economic costs and difficulties which we have tried to quantify. It is difficult for me to be able to say what exactly the mitigating effect of this...

Ceisteanna Eile - Other Questions: Estimates Process (28 Feb 2019)

Paschal Donohoe: There is a difference between a budget being balanced and a budget moving into surplus. I am quite happy to look at the different proposals and alternative budgets that Deputies submit to me. However, I do not recollect Deputies Broughan or Boyd Barrett ever saying we should raise money that we should not spend.

Ceisteanna Eile - Other Questions: Estimates Process (28 Feb 2019)

Paschal Donohoe: I stand to be corrected by the Deputy.

Ceisteanna Eile - Other Questions: Estimates Process (28 Feb 2019)

Paschal Donohoe: I am sure the Deputy will correct me if he is moving to a hawkish position on the national finances of the country.

Ceisteanna Eile - Other Questions: Estimates Process (28 Feb 2019)

Paschal Donohoe: If that is the Deputy's view, his surplus credentials are already weakening. I have outlined on a number of occasions all of the different things we have tried to do to deal with a no-Brexit scenario. In response to some earlier questions, I outlined where the Revenue is from a staff point of view and the work we are doing from an infrastructure point of view. A number of weeks ago, the...

Ceisteanna Eile - Other Questions: Betting Regulations (28 Feb 2019)

Paschal Donohoe: The increase in betting duty from 1% to 2% and the increase in the betting intermediary duty rate came into effect on 1 January 2019. The last time the duty rate was increased was 1975. At 1%, betting duty was at an all-time low. Receipts from betting duty represented less than 1% of all excise receipts in 2017. It is likely that this will also be the case in 2018. In the course of last...

Ceisteanna Eile - Other Questions: Betting Regulations (28 Feb 2019)

Paschal Donohoe: As I said, much work has already taken place regarding this issue. I thank the Deputy for acknowledging that. It is my intention to meet some representatives of the sector to have a discussion with them on the issue. I will not give a commitment at this point on how I will handle the tax strategy group papers because if I begin to pare out one sector or one issue from the entire process,...

Ceisteanna Eile - Other Questions: Betting Regulations (28 Feb 2019)

Paschal Donohoe: The Deputy is looking for certainty on behalf of businesses that want to be able to offer certainty to their employees or to those providing funding or lending to them. He is then asking a hypothetical question about what I might do. All I will commit to doing at this point is continuing work that is already under way. My officials and my Department have done a lot of work in this area....

Ceisteanna Eile - Other Questions: Property Tax Review (28 Feb 2019)

Paschal Donohoe: A review of the local property tax, LPT, is being carried out by the Department of Finance in conjunction with the Departments of the Taoiseach, Housing, Planning and Local Government, Public Expenditure and Reform and the Revenue Commissioners. The terms of reference require that in conducting the review, the review group is to have regard to the principle of achieving relative stability in...

Ceisteanna Eile - Other Questions: Property Tax Review (28 Feb 2019)

Paschal Donohoe: What we have seen is a change in property prices. I am well aware of the consequences of all of that and of the concern it has caused for many regarding their future bills. The revaluation date is November. The bills are not due until next January. I will fulfil the commitment I have given to provide clarity and certainty on the matter. Regarding the impact it has had on local...

Written Answers — Department of Finance: Mortgage Book Sales (28 Feb 2019)

Paschal Donohoe: Officials in the Department of Finance referred the Deputy’s question to the Central Bank of Ireland. The Central Bank have advised the following: "When a consumer takes out a loan from a regulated lender (“the original lender”) it is subject to all the relevant Irish and EU consumer protections. Most loan agreements include a clause that allows the original lender...

Written Answers — Department of Finance: Insurance Costs (28 Feb 2019)

Paschal Donohoe: The Cost of Insurance Working Group is currently implementing the 33 recommendations from the 2017 Report on the Cost of Motor Insuranceand the 15 recommendations from the 2018 Report on the Cost of Employer and Public Liability Insurance. The seventh Progress Updatewas published last November and shows that of the total number of 78 separate relevant deadlines within the Action Plans of the...

Written Answers — Department of Finance: Tax Code (28 Feb 2019)

Paschal Donohoe: The Deputy refers specifically to a figure of ‘almost €100 million in relief carried forward’ which he suggests could be offset against tax in future. I assume the Deputy is referring to the information provided in Row 47 of Table 3 of the 2016 Revenue report entitled ‘Analysis of High Income Individuals’, specifically with regard to the 346 cases where...

Written Answers — Department of Finance: Household Debt Statistics (28 Feb 2019)

Paschal Donohoe: Over the last decade, the household sector has undergone a significant period of active deleveraging. Since its peak of €204 billion in Q3 2008, the level of household debt has decreased by 32 per cent, or €66 billion. At end-Q3 2018, household debt stood at €137.5 billion, or €28,316 per capita, and is now at its lowest level since Q3 2005. Irish household...

Written Answers — Department of Finance: Insurance Costs (28 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 17 and 37 together. As outlined to the Deputy in previous PQ responses (including PQs 7359/19, 48428/18 and 40780/18), stakeholder consultation formed the foundation upon which the two primary reports of the Cost of Insurance Working Group and the accompanying recommendations were developed. This consultation process involved a wide range of stakeholders...

Written Answers — Department of Finance: Commissions of Investigation Data (28 Feb 2019)

Paschal Donohoe: The Commission was established by order of the Government, on 13th June 2017, pursuant to section 3 of the Commissions of Investigation Act 2004 ("the Act"). The Order of the Government establishing the Commission is set out in the Commission of lnvestigation (National Asset Management Agency) Order 2017 (S.l. No. 267 of 2017). Under that Order, the Taoiseach was appointed as the specified...

Written Answers — Department of Finance: Financial Services Sector (28 Feb 2019)

Paschal Donohoe: The Government’s strategy to develop the international financial services sector, ‘IFS2020’, was launched in 2015. The annual Action Plans under the IFS2020 strategy for 2017, 2018 and 2019 included measures to support a regional development. Employment in the sector under the IFS2020 Strategy has not been limited to Dublin. Over a third of the jobs are located in...

Written Answers — Department of Finance: NAMA Operations (28 Feb 2019)

Paschal Donohoe: I wish to advise the Deputy that subject to current market conditions prevailing NAMA projects a surplus in the region of €3.5bn to be returned to the State once it completes its work. The realisation of this surplus depends on the redemption of NAMA’s remaining subordinated debt by March 2020 and completion of its Dublin Docklands SDZ and residential funding programmes. ...

Written Answers — Department of Finance: Brexit Issues (28 Feb 2019)

Paschal Donohoe: As matters stand, the timing and nature of Brexit remains uncertain. However, it is clear that all forms of Brexit will have a negative impact on the Irish economy. The more disorderly the UK’s exit is from the EU, the larger the economic impact will be. Further the implications for our economy will be disproportionate relative to those for the rest of the EU. The most negative impacts...