Results 19,061-19,080 of 32,999 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: It will be mostly the things that are demand-led that will have an effect. They will be demand-led but driven by rising unemployment and falling tax revenues. That will be the biggest constituent. There may well be a need to outline support measures for the economy that will also be included.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: We nearly have it done. We have been looking at two things, the first of which is putting in place a process to give us a view on the sustainability of corporation tax receipts. We are aiming to have that work done by next March. I think we have already discussed that issue here. Deputy Cowen asked if we could give an indication that it would be brought forward to get it done sooner....

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: In so far as we can, we will look to accommodate the effect of BEPS 1 in the corporation tax receipt forecasts included in our budget day publications. In terms of BEPS 2, we do not currently have enough detail available to us to be able to give a view on the impact on the different pillars and the collection of corporation tax.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: On the consequences of BEPS 1-----

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: I am not aware that the OECD is conducting country by country impact studies to assess what the effect of BEPS 1 could be in the collection of corporation tax. That is work we have to do.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: As the Deputy said, there is no single policy intervention. There is going to a big bang. I am well aware of the effects the issue is having business by business. In terms of what kind of work is happening at the moment, the Deputy will be aware of the work that the Minister of State, Deputy D'Arcy, is doing on the book of quantum. Recently the Minister of State met underwriters on this...

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: Because we are in the final stages of getting ready for a decision on signing the contract itself, most of that work is being led now and done by the Department of Communications, Climate Action and Environment. My Department will be involved in the final report on this issue that the Minister, Deputy Bruton, brings to Cabinet.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: No, we are not.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: At that point it will come back to my Department. We will look to see whether any of the actual figures that we have differ in any material way from the figures that were available to us when we made the decision to go ahead with the broadband process.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: Is the Deputy looking at page 26?

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: It shows that in a disorderly Brexit, we would have the ability to be back in a position of approximate balance by around 2023.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: I do not have the figures available to me now about the budget day packages underpinning that.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: That is correct.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: Yes.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: That is correct.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: This leads to the broad point worth making that even in the case of dealing with a no-deal Brexit, it will be possible over time to continue to invest in our public services and put improvements in place.

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: I am not giving any indication that dealing with a no-deal Brexit will create the kind of circumstances that we had to deal with in 2008, 2009 and 2010. It is very different in scale and that is the reason I am saying that even in a no-deal Brexit, commitments with respect to capital expenditure and dealing with the demographics of our society should still be met. We can do so....

Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)

Paschal Donohoe: In the context of the matters we have discussed, I have three weeks to put together a budget to respond to the many grave issues people have raised. I do not want to make a diary commitment to the Deputy that I cannot fulfil.

Written Answers — Department of Finance: Irish Fiscal Advisory Council Reports (18 Sep 2019)

Paschal Donohoe: I can confirm that I have received a copy of the Irish Fiscal Advisory Council’s Pre-Budget 2020 Statement, as published on Wednesday, 11thSeptember. I have reviewed the Statement, along with my officials, and would make the following observations. Firstly, I would welcome the Council’s assessment that Government revenues continue to perform well this year to date. With tax...

Written Answers — Department of Finance: Property Tax Exemptions (18 Sep 2019)

Paschal Donohoe: The pyrite exemption is intended to apply to those properties that have a significant level of pyrite damage. This means that not all properties that are affected by pyrite are eligible for the exemption. Under the relevant legislation, a  property that has been damaged by pyrite is eligible for the LPT exemption where any one of the following conditions is met: 1. A...