Results 19,221-19,240 of 32,999 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Costs (26 Sep 2019)

Paschal Donohoe: At the outset, the Deputy should note that I am responsible for the development of the legal framework governing financial regulation.  Neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (26 Sep 2019)

Paschal Donohoe: The Fossil Fuel Divestment Act 2018 provides for the divestment by the Ireland Strategic Investment Fund (ISIF) from fossil fuel undertakings, that is, companies that derive more than 20% of their revenues from the exploration, extraction and/or refinement of fossil fuels, within a practicable timeframe. Under the Act, fossil fuels are defined as oil, natural gas, peat, coal or any derivative...

Written Answers — Department of Finance: Departmental Legal Cases (26 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 32 and 44 together. The Government profoundly disagrees with the Commission’s analysis in the Apple State aid case. An appeal has therefore been brought before the European Courts. Such an appeal takes the form of an application to the General Court of the European Union, asking it to annul the Decision of the Commission. The Attorney...

Written Answers — Department of Finance: Capital Expenditure Programme (26 Sep 2019)

Paschal Donohoe: As the Deputy will be aware, it is not the practice of the Minister for Finance to discuss the details of measures which may be under consideration as part of the Budget and Finance Bill.

Written Answers — Department of Finance: Insurance Fraud (26 Sep 2019)

Paschal Donohoe: The Cost of Insurance Working Group Report on the Cost of Motor Insurance’ (January 2017) includes a recommendation to establish a fully functioning integrated fraud database for industry to detect patterns of fraud managed by an independent not-for-profit body but funded by industry. This approach is designed to provide for complete and open access to the data held on any such...

Written Answers — Department of Finance: Tax Code (26 Sep 2019)

Paschal Donohoe: I am currently awaiting the completion of a comprehensive review of the Special Assignee Relief Programme (SARP).  The review is being carried out by Indecon Economic Consultants and my Department expects to receive the relevant report within the coming days.  The review affords an opportunity to look at all elements of the relief, including the particular aspects to which...

Written Answers — Department of Finance: Tax Code (26 Sep 2019)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Tax Reliefs Eligibility (26 Sep 2019)

Paschal Donohoe: Section 825C of the Taxes Consolidation Act 1997 provides for the Special Assignee Relief Programme (SARP). This relief provides a deduction from income tax for an employee who is assigned to work in the State by his or her employer.   There are certain conditions that must be met in order to qualify for SARP, including that the employee must be tax resident in the State for all tax...

Written Answers — Department of Finance: Brexit Preparations (26 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 38 and 53 together. The Government is determined in the context of Brexit, deal or 'no deal', to avoid a hard border on the island of Ireland. I am assured by Revenue that in line with that policy it has not upgraded any Customs posts in the vicinity of the border to deal with Customs formalities post-Brexit.  In preparation for Brexit,...

Written Answers — Department of Finance: Departmental Budgets (26 Sep 2019)

Paschal Donohoe: This question is more appropriate to my colleague the Minister for Housing, Planning and Local Government as the allocation of funding to housing schemes is primarily his policy responsibility.  The Deputy may be aware that the Minister for Housing, Planning and Local Government already set out in his answer to PQ 25232 that he had received sanction to increase the funding of the...

Written Answers — Department of Finance: Brexit Preparations (26 Sep 2019)

Paschal Donohoe: The Government has been actively preparing for Brexit since the Brexit referendum took place. While a no deal Brexit will never be Ireland or the EU’s choice, the risk of a no deal remains significant and, therefore, no deal preparations have the highest priority across Government. The aim of the Government’s preparations is to make sure that Irish citizens and businesses...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Sep 2019)

Paschal Donohoe: The European Central Bank is responsible for the formulation and implementation of monetary policy for the eurozone and in that context it determines its key lending and deposit rates for monetary policy operations.  The current ECB marginal facility lending rate is 0.25% and, effective from 18 September last, the ECB's deposit facility rate is currently -0.5%. While the ECB is...

Written Answers — Department of Finance: European Central Bank (26 Sep 2019)

Paschal Donohoe: The European Central Bank (ECB) has a very clear and limited mandate, given by the Treaty on the Functioning of the European Union, which is to maintain price stability in the euro area.  The Treaty establishes the independence of the ECB by prohibiting it from seeking or taking instructions from EU institutions or bodies, from any government of an EU Member State, or...

Written Answers — Department of Finance: Home Building Finance Ireland (26 Sep 2019)

Paschal Donohoe: HBFI commenced operations on the 28th January this year and published its half-year progress update in mid-July. The update is available on the HBFI website (www.hbfi.ie/latest/home-building-finance-ireland-publishes- half-year-update) and I am advised that HBFI furnished a copy to all Deputies. The key highlights to end June (after 5 months of operations) are as follows: - More than 100...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Sep 2019)

Paschal Donohoe: As the Deputy will be aware, as Minister for Finance I have no role in setting the interest rates on lending products offered by the banks in which the State has a shareholding. The day to day operations of the banks are the sole responsibility of the boards and management teams and each bank must be run on an independent and commercial basis. The banks’ independence is protected by...

Written Answers — Department of Finance: Help-To-Buy Scheme (26 Sep 2019)

Paschal Donohoe: The Help To Buy (HTB) incentive was announced in Budget 2017 and backdated to 19 July 2016. Revenue advise me that over the period 19 July 2016 to 30 August 2019 (the most recent month for which data are available), 14,722 claims for HTB were made on a national basis, of which 13,955 were approved. Out of the 14,722 claims made overall, 1,421 of the claims related to...

Written Answers — Department of Finance: Labour Market (26 Sep 2019)

Paschal Donohoe: The Minister for Housing, Planning and Local Government has agreed to take the part of the question pertaining to rents.  I will address the remaining part on the economic analysis of wage levels. My Department monitors developments across all aspects of Ireland’s economy on an ongoing basis.  With regard to the labour market, my Department conducts regular analysis on...

Written Answers — Department of Finance: Tax Code (26 Sep 2019)

Paschal Donohoe: I have received correspondence from the Deputy with regard to the treatment under Capital Acquisitions Tax (CAT) of couples who are married, cohabiting or in a civil partnership and the CAT treatment of those who do not have children. The correspondence, which is an external legal opinion sought by the Deputy, suggests changes to the current CAT rules and treatment. For the purposes...

Written Answers — Department of Finance: NAMA Operations (26 Sep 2019)

Paschal Donohoe: As part of its Annual Report for 2018, NAMA revised its projected surplus to be returned to the State upwards to €4 billion. The realisation of this surplus depends on the success of NAMA’s ongoing deleveraging and completion of its Dublin Docklands SDZ and residential funding programmes. Surplus funds may only be returned to the Central Fund once NAMA's debt has been...

Written Answers — Department of Finance: Brexit Issues (26 Sep 2019)

Paschal Donohoe: I will present Budget 2020 to Dáil Éireann on the 8th of October and, as agreed by Government, this will be based on the assumption - purely for budgetary purposes - of a disorderly exit of the UK from the European Union.  I have outlined on several occasions that, irrespective of the actual Brexit outcome, there will be no additional Budget for next year.  This...