Results 17,701-17,720 of 32,983 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: They are both funded and anybody who thinks O'Devaney Gardens is small scale should come out and see what is happening there. They are all examples of things that are happening. Of course we could be more radical and do more but the question is whether we can build a majority of votes to do that.

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: Yes, it did.

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: That point is fair. Other parts of the economy need to play their part and this is why the all-economy plan that the Minister for Communications, Climate Action and Environment is putting together will be important because all parts of our economy have to play a role. I agree with the Deputy on that. No Government on its own will be able to respond to the significant challenge of climate...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: There have been two formal meetings, with officials on both sides. We have had only two because there is little point in meeting in January or February because there is a time lag before we can see exactly where expenditure has been and from the end of February up to this point we have had two formal meetings on the subject and the Minister and I will meet again towards the end of April....

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: It is too early in the year for us to form a view on it. January, February and March were on profile. January and February health expenditure was below what we have seen previously. March expenditure was a bit higher than before. One of the many lessons I have learnt from what happened in the past 12 months is the need for us to continue to engage on this issue and have an aligned...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: It was across all parts of the Vote. In January and February, the health expenditure was lower than those months in the previous year and it was a bit higher in March. To break that down, we then look at where we are by hospital group and by different parts of the HSE. There is a further time lag before that becomes available to us, normally a couple of weeks. As we move into April and...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: I aim to ensure that their neighbour is paying property tax in the same way that they are. I aim to have that in place for the revaluation that will take place towards the end of next year. I am well aware of the issue that the Deputy raises. I am also aware of what has happened and of revaluation points for taxes such as this all over the world. The Deputy should look at the report I...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: While it is far too early to say, I expect that the majority of the additional yield will come from new homes that are brought into the tax base. An essential thing that we should be able to do is to demonstrate that all properties are taxed the same regardless of when they were built. For example, if we said that we wanted to bring new homes into the local property tax-----

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: That is the point. If we brought them in at present value, that would automatically mean that all homes built before that point have to be taxed in the same way, which would mean an immediate increase in yield from existing homes. We looked at an alternative way of doing it, to see if there would be a way to ascribe a nominal value to homes that have been built since 2013 and to use the...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: I will address the second point first. Even though it does not feel like it, we are at a very early stage in all of the discussions on the MFF. It is likely that this work will accelerate towards the end of this year. It will have to. There are scenarios in which our contribution to the MFF will go up. In a speech to the European Parliament a number of months ago, the Taoiseach said that...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: The Deputy is correct. Table 13 refers to some of the figures he has touched on and shows that while our national debt will dip in 2020 to under €200 billion, it will then increase again. There are two reasons for that, however. The first is whether the Government of the day will make a decision to run larger surpluses than are currently set out in this document. I mentioned...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: Approximately 90% to 95% is at fixed rates. If the Deputy looks at page 34 of our document, the average interest rate across the period is set out at the bottom of table 13 and it is approximately 2%, which is a staggering turnaround from where we have been over recent years. If one goes back to the point I made earlier, one sees that as a percentage of gross national income, our debt...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance and for Public Expenditure and Reform (18 Apr 2019)

Paschal Donohoe: I do. The Deputy asked if I want to change the balance between current and capital expenditure on housing and the short answer is, "Yes, I do". On his first question as to whether I accept this is a macroeconomic or overall risk for the economy, the answer is also "Yes". The Deputy and I differ on many things, as he well knows, but I accept the genuineness with which he approaches this...

Written Answers — Department of Finance: Tax Exemptions (8 May 2019)

Paschal Donohoe: S. 195 of the Taxes Consolidation Act 1997 (TCA 1997) empowers the Revenue Commissioners to make a determination that certain artistic works are original and creative works generally recognised as having cultural or artistic merit. The scheme provides that the Revenue Commissioners can make determinations in respect of artistic works in the following categories only: 1. a book or other...

Written Answers — Department of Finance: VAT Exemptions (8 May 2019)

Paschal Donohoe: The Programme for Partnership Government recognises the difficulties faced by community groups in relation to VAT rates on certain products such as defibrillators. This is an EU competency and the Government has committed to work with our EU counterparts in seeking to reform this area. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, which in...

Written Answers — Department of Finance: Brexit Preparations (8 May 2019)

Paschal Donohoe: In March, my Department and the ESRI published a comprehensive assessment of the potential macroeconomic impact of Brexit on the Irish economy. This report shows that compared to a no Brexit baseline, the level of GDP in Ireland, ten years after Brexit, would be around 2.6 per cent lower in a Deal scenario and 5.0 per cent lower in a Disorderly No-Deal scenario. This assessment shows...

Written Answers — Department of Finance: Pension Levy (8 May 2019)

Paschal Donohoe: Following clarification received from the Deputy’s office, I understand that the question relates to the issue of increasing the age exemption limits. A person aged 65 and over is fully exempt from income tax where his or her total income from all sources is less than the relevant exemption limit. For 2019, the exemption limits are €36,000 for a married couple or civil...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (8 May 2019)

Paschal Donohoe: I am advised by Revenue that the addresses of purchased properties are only recorded at the claim (i.e. final) stage of the Help to Buy (HTB) process, rather than the initial application stage. This is because not every property purchase where a HTB application is received is subsequently completed, for example where applicants decide not to proceed with the acquisition. Therefore, it is not...

Written Answers — Department of Finance: European Bank for Reconstruction and Development (8 May 2019)

Paschal Donohoe: Ireland is a shareholder at the Bank and currently has a Director who attends the Bank’s Board meetings. Ireland’s paid-in shareholding at the Bank is €18.78 million with €71.26 million callable capital for a total subscribed capital of €90.04 million which approximates 0.3% of total EBRD shares. However, the Irish Government does not directly co-finance or...

Written Answers — Department of Finance: Customs and Excise Controls (8 May 2019)

Paschal Donohoe: I am advised by Revenue that Tetrahydrocannabinol (which is commonly referred to as THC) is a derivative of Cannabinol, which is a controlled drug under the Misuse of Drugs Act 1977 and the regulations and orders made thereunder. Cannabidiol (which is commonly referred to as CBD) is not a controlled drug unless it contains trace elements of THC. The legislation does not provide for any...