Results 20,721-20,740 of 34,135 for speaker:Paschal Donohoe

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: I will lay out in the summer economic statement the figures that I am required to provide. Before we make decisions about how to spend resources, however, we must be clear that we have those resources in the first place. We must raise the taxes to provide them and we must ensure that by spending the resources we are making proper use of them. I wish to be clear about the demographics....

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: It is not. I have answered that question. The difference between moving from the gross fiscal space of €3.6 billion to the net fiscal space of €3.2 billion takes account of demographics. It is very clear. We have precommitted expenditure next year of the figure I have outlined and we have to find the money to pay for it.

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: When we put the economic statement together, we will be explaining what resources we have available for budget 2019 but making crystal clear that we must ensure that it is correct to spend those resources.

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: I am happy to answer all the questions. The difference between the figure of €3.6 billion for last year in moving to the figure of €3.2 billion takes account of €400 million in demographics-----

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: -----which I have just explained. In addition, we have public capital plan commitments and Irish Water commitments which will take up fiscal space of €300 million. That takes us to the €3.2 billion figure. In addition to that, we have further expenditure commitments that were made after last year's summer economic statement. They consist of €700 million of fiscal...

Ceisteanna - Questions - Priority Questions: Corporation Tax Regime (16 May 2018)

Paschal Donohoe: The Deputy’s question is quite wide-ranging and it is not possible in the time allowed to address in detail each of the categories listed, so I will focus on the significant work undertaken in recent years, which is still ongoing, to address tax avoidance at domestic and international levels. Corporation tax is a significant element of Exchequer tax revenue. Projected corporation...

Ceisteanna - Questions - Priority Questions: Corporation Tax Regime (16 May 2018)

Paschal Donohoe: I am committed to taking on board all the input I have received from the consultation on the Coffey report to ensure we can continue to have a tax code that is both competitive and deals with issues of international concern. However, where I differ with the Deputy very strongly is in noting that a deduction is not the same as a loophole. Companies of all natures are entitled and are able to...

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: I have answered all the questions put to me on the matter in written format. I have answered the question the Deputy put to me in writing and which was made available to my Department in advance of questions in the Dáil. To answer directly the question the Deputy has subsequently put to me, he is correct. If one looks at the amount of last year's fiscal space which was pre-committed,...

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: The first question put to me was on a decision in relation to the rainy day fund. It is my view that we need to set up a rainy day fund and I have already indicated my belief that the appropriate deposit in its first year would be €500 million. That figure comes from the €1.8 billion. That is the answer to the first question. On the second question, the convention I have...

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: Table 3 on page 22 of the summer economic statement 2017 sets out an indicative amount of €3.2 billion based on the parameters available at that time in respect of the estimate of net fiscal space for 2019. In arriving at the net amount, the fiscal space impact of certain pre-committed voted expenditure was deducted from gross fiscal space. The nominal amounts relating to these...

Ceisteanna - Questions - Priority Questions: Budget Targets (16 May 2018)

Paschal Donohoe: The 2018 summer economic statement will update the parameters for budget 2019 taking into account the publication by the European Commission of the important inputs in its spring economic forecast. The forecasts will take account of all policy changes announced since budget 2018. I am not in a position to comment on the resources that will be available in budget 2019 ahead of the statement....

Written Answers — Department of Finance: Financial Services Regulation (16 May 2018)

Paschal Donohoe: It is a matter for the Central Bank to oversee the operation of regulated financial service providers in Ireland. That said, I have contacted Ulster Bank about its complaints process in relation to Global Restructuring Group.   Ulster Bank have confirmed that following on from the UK Financial Conduct Authority’s (FCA) appointment of a Skilled Person to undertake a review,...

Written Answers — Department of Finance: Construction Industry (16 May 2018)

Paschal Donohoe: The exact rate of travel time allowances, or ‘country money’, paid in the construction sector is an issue to be dealt with in the normal course of industrial relations, either at a company level between employers and unions, or through the usual industrial relations mechanisms available. Indeed, in 2017, the Labour Court chose not to recommend the inclusion of a travel time...

Written Answers — Department of Finance: Tax Compliance (16 May 2018)

Paschal Donohoe: Section 9 of the Dog Breeding Establishments Act 2010 provides that each local authority must maintain a register of dog breeding establishments located in its area of responsibility.  The Act also places an obligation on any person seeking to operate a dog breeding establishment to have the premises included on the register. The commencement order for the Dog Breeding Establishments...

Written Answers — Department of Finance: European Council Meetings (16 May 2018)

Paschal Donohoe: The meeting I attended on 28 April 2018 was the scheduled Informal Meeting of Economic and Finance Ministers held under the auspices of the Bulgarian Presidency in Sofia. These meetings occur twice a year - held in the country of the rotating Presidency.  They are designed to allow participants to come together to discuss items of topical or potential interest in a less formal...

Written Answers — Department of Finance: Tax Reliefs Application (16 May 2018)

Paschal Donohoe: Corporation Tax Loss Relief is provided for by Section 396 of the Taxes Consolidation Act (TCA) 1997. It allows for losses incurred in the course of business to be accounted for when calculating a business’ tax liabilities. Loss relief for corporation tax is a long standing feature of the Irish Corporate Tax system and is a standard feature of Corporation Tax systems in all OECD...

Written Answers — Department of Finance: Banking Sector Remuneration (16 May 2018)

Paschal Donohoe: As the Deputy is aware Government policy on banking remuneration has remained unchanged since the financial crisis. Extensive restrictions are in place, which, in summary, limit total remuneration for staff in AIB, Bank of Ireland and PTSB to €500,000 (excluding a standard pension contribution). Policy also dictates that bonuses and many other benefits cannot be paid to any staff....

Written Answers — Department of Finance: Summer Economic Statement (16 May 2018)

Paschal Donohoe: The publication of the Summer Economic Statement (SES), forms a key part of the reformed budgetary process designed to complement the Stability Programme Update (SPU). Underpinned by the macroeconomic outlook set out in April as part of the SPU, the SES will broadly set out what the Government believes to be the appropriate fiscal policy for the year to come, taking into account...

Written Answers — Department of Finance: Ministerial Meetings (16 May 2018)

Paschal Donohoe: I met with the Managing Director of the European Stability Mechanism (ESM), Klaus Regling, on Tuesday, 8 May 2018. We had a positive and constructive discussion on a number of issues including the Irish economy and the future of the Economic and Monetary Union, with a focus on the future role of the ESM. Mr. Regling noted that Ireland’s economic recovery since the crisis is...

Written Answers — Department of Finance: Motor Insurance Coverage (16 May 2018)

Paschal Donohoe: I am aware of the concerns raised by the Deputy and have considerable sympathy for them. However, neither the Minister for Finance, nor 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. ...