Results 20,621-20,640 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Household Debt Statistics (6 Feb 2018)

Paschal Donohoe: I understand that the Central Bank of Ireland does not publish data on the level of credit card debt. However, the Household Finance and Consumption Survey 2013, which was carried out by the CSO on behalf of the Central Bank of Ireland provides a snap shot of credit card debt in Ireland. The survey, which was published in January 2015, shows that the median value of credit card debt for...

Written Answers — Department of Finance: Help-To-Buy Scheme (6 Feb 2018)

Paschal Donohoe: I am advised by Revenue that the claim made by the person concerned for a refund under the Help-to-Buy scheme has been approved.  Contact has been made by Revenue with the person concerned to clarify certain matters as regards bank account details supplied. When this clarification is provided, Revenue advise me that they will be able to finalise the refund.

Written Answers — Department of Finance: NAMA Social Housing Provision (6 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 130 to 132, inclusive, together. I am advised that to date, NAMA has delivered 2,472 houses and apartments for social housing, excluding houses provided under Part V arrangements. NAMA provides whatever funding is required to ensure that social housing units are habitable and in full compliance with all statutory requirements and to date, it has invested...

Written Answers — Department of Finance: Commercial Property (6 Feb 2018)

Paschal Donohoe: In respect of commercial property funds, the Central Bank is responsible for the authorisation and supervision of all investment funds established in Ireland. In conjunction with the Central Bank, my Department continually monitors developments in the commercial property sector. This includes tracking investment, transactions and the profile of market participants.  In addition, last...

Written Answers — Department of Finance: Brexit Issues (6 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 134 to 136, inclusive, together. My Department has been to the fore in producing and funding a number of Brexit-related studies, both before and since the UK's referendum decision. In addition, regular updates of the Department’s Macro-Economic forecasts take account of the impact of Brexit. Published Brexit-related studies by my Department include: -...

Written Answers — Department of Finance: Tax Code (6 Feb 2018)

Paschal Donohoe: As announced in Budget 2018, a Sugar Sweetened Drinks Tax (SSDT) is to apply to the first supply in the State of sugar sweetened drinks. Primary legislation for the SSDT was included in the Finance Act 2017 and is subject to a commencement order.   The commencement of the SSDT is subject to approval from the European Commission on State aid grounds. In the first instance,...

Written Answers — Department of Finance: Tracker Mortgage Examination (6 Feb 2018)

Paschal Donohoe: The Central Bank has advised that, based on its most recent progress update report on the Tracker Mortgage Examination which was published on 20 December 2017 and on certain updated data that the Bank provided to the Joint Oireachtas Committee on Finance, Public Expenditure and Reform and Taoiseach on January 18 last, lenders have included c.33,700 customers...

Written Answers — Department of Finance: European Central Bank (6 Feb 2018)

Paschal Donohoe: All lenders in Ireland engage on an ongoing basis with their Joint Supervisory Team (JST) on their lending and recovery activity, this would include supervision of the use of loan restructuring solutions such as split mortgages. JSTs are an effective means of cooperation between the ECB and the national supervisors in overseeing banking practices in supervised...

Written Answers — Department of Finance: Financial Services Regulation (6 Feb 2018)

Paschal Donohoe: The issues raised by Deputy are quite distinct therefore I will respond to the insurance part of the question first and then address the bank account and mortgage part of the question. In relation to the issue of motor insurance for returning emigrants, Recommendation 6 of the Report on the Cost of Motor Insurance aims to address the problems faced by those returning to Ireland. ...

Written Answers — Department of Finance: Central Bank of Ireland (6 Feb 2018)

Paschal Donohoe: I am informed by the Central Bank of Ireland that it has an ongoing engagement with the Financial Conduct Authority (FCA) on a range of issues. However, the Central Bank is not in a position to comment on individual cases or the specifics of its engagement with the FCA.

Written Answers — Department of Finance: Tax Code (6 Feb 2018)

Paschal Donohoe: The use of tax incentives and reliefs, ideally in accordance with the tax expenditure guidelines published by my Department, is one of a number of potential approaches that can be adopted to deal with the issues mentioned by the Deputy. Recognising the serious challenge we face in terms of housing supply, the Government has prioritized the development and implementation of the Rebuilding...

Written Answers — Department of Finance: Motor Insurance (6 Feb 2018)

Paschal Donohoe: As Minister for Finance, 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 accept.  This...

Written Answers — Department of Finance: Revenue Commissioners Staff (6 Feb 2018)

Paschal Donohoe: I am advised by Revenue that purchases made by online shoppers are usually imported either by express couriers or via the postal system. In the case of the express couriers, the carrier make the necessary import declarations and pay duty and VAT, where applicable, to Revenue. In respect of imports via the postal system, the parcels are produced by the postal authorities to...

Written Answers — Department of Finance: VAT Rate Application (6 Feb 2018)

Paschal Donohoe: On 18 January 2018 the European Commission published a proposal on the Simplification of VAT rates, which allows greater freedom for Member States in setting VAT rates in line with the move to the definitive destination based system of VAT.  The proposal provides that Member States would continue to apply a standard VAT rate of at least 15% as well as the option to operate two reduced...

Written Answers — Department of Finance: Banking Sector Regulation (6 Feb 2018)

Paschal Donohoe: The legal and regulatory protection framework sets out a number of measures to protect consumers who are taking out a mortgage and it seeks to ensure that lenders are transparent and fair in all their dealings with borrowers.  For example, the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 provides that mortgage lenders must...

Written Answers — Department of Finance: Mortgage Applications Data (6 Feb 2018)

Paschal Donohoe: Prior to offering a residential mortgage loan to a consumer borrower, mortgage lenders are required to carry out a credit worthiness assessment and to offer mortgage credit only where the result of the assessment indicates that the consumer is likely to meet his/her obligations in the manner required by the credit agreement. The mortgage lender is also obliged to ensure that the procedures...

Written Answers — Department of Finance: Motor Insurance Regulation (6 Feb 2018)

Paschal Donohoe: At the outset, I wish to inform the Deputy that I have no plans to legislate on this particular issue.  Neither I nor the Central Bank 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 the risks they are willing to accept.  However, it has been brought to my...

Written Answers — Department of Finance: VAT Rate Application (6 Feb 2018)

Paschal Donohoe: The European Commission published a proposal on 18 January 2018 which aims to simplify VAT rating. Under existing VAT rating rules, Member States must apply a standard VAT rate of at least 15% and may apply up to two reduced VAT rates of 5% or more to a set list of socially inclined goods and services.  Member States may also retain historic VAT treatment that applied before 1...

Written Answers — Department of Finance: Banking Sector Regulation (6 Feb 2018)

Paschal Donohoe: I am advised by the Central Bank that securitisation activity, including that of ‘home loans’, is currently subject to a variety of regulatory requirements in various pieces of EU sectoral legislation. The main securitisation-specific requirements generally relate to the prudential treatment of investments in securitisation by certain financial firms and investor transparency...

Written Answers — Department of Finance: Revenue Commissioners Data (6 Feb 2018)

Paschal Donohoe: I am informed that Revenue publishes the Annual Average Euro Reference Exchange Rates, as supplied by the Central Bank, annually by way of an eBrief. The annual average sterling to euro exchange rate for 2017 was GBP £1 = €1.14068. Where income is received on a particular date, the taxpayer may choose to use the daily exchange rate for that date, as supplied by the Central Bank....