Results 21,381-21,400 of 32,864 for speaker:Paschal Donohoe

Ceisteanna - Questions - Priority Questions: Stamp Duty (30 Nov 2017)

Paschal Donohoe: These are national figures.

Ceisteanna - Questions - Priority Questions: Stamp Duty (30 Nov 2017)

Paschal Donohoe: Values are up by 75%. If we do not use opportunities such as this to reset tax rates after that level of growth, we will be back on the path to having a narrow tax base that will not help to sustain the public services. It is the right measure. I faced a challenge. If I had redefined the definition of non-residential commercial property in the Finance Bill to remove a particular category...

Ceisteanna - Questions - Priority Questions: Local Authority Funding (30 Nov 2017)

Paschal Donohoe: The Department of Finance engaged Dr. Don Thornhill in 2015 to conduct a review to consider and make recommendations on the operation of local proerty tax, LPT, in particular any impact on LPT liabilities owing to property price developments. Dr. Thornhill made a number of recommendations in his report. His central recommendation was for a revised system whereby a minimum level of LPT...

Ceisteanna - Questions - Priority Questions: Stamp Duty (30 Nov 2017)

Paschal Donohoe: Just before I answer Deputy Mattie McGrath's question, there are school pupils in the Gallery who are waving, making the thumbs up sign and dabbing down to all of us here. While we cannot wave back, I hope they are having a good visit.

Ceisteanna - Questions - Priority Questions: Stamp Duty (30 Nov 2017)

Paschal Donohoe: I will neither wave nor dab back but I hope they have a good visit and that one of them will be down here at some point in the future. 11 o’clock In my Budget Statement I announced an increase in the stamp duty rate for all non-residential property transactions, including agricultural land, from 2% to 6%. An economic rationale for this stamp duty increase was published on budget...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Paschal Donohoe: On the Deputy's three questions, by the middle of December we will have to know the total number of people affected by this scandal. It continues to be vital to the Government to establish conclusively the number affected in this extraordinary episode which has caused such distress to so many and to ensure this is accepted by the banks in question. On the question on Ulster Bank, I am...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Paschal Donohoe: The Deputy has made two points. First, for the purpose of achieving complete clarity, I must state the assessment panels or appeals panels in place are not under the umbrella of the banks in any way. I have seen the names of the individuals on the appeals boards and I am absolutely satisfied they are people of good and independent standing who will not be influenced by the opinions of the...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Paschal Donohoe: But the individuals will not be influenced by them. It is very important to be clear on that. If the Deputy has any concerns about this or views on how the arrangement could be strengthened, I will be very happy to hear them and determine how we can achieve what is proposed. With regard to compensation levels, we have to reach an agreement with the banks, based on the powers available,...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Paschal Donohoe: Yes. As I indicated to the Deputy in response to the parliamentary question he put to me, we had to follow up on this matter with the Central Bank. The practice to which the Deputy is referring, on which he has had information made available to him, should not have occurred. It is another example of the appalling way in which this matter developed and has since been handled. If I can play...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 1 and 2 together. The Central Bank has advised me that in its most recent update of progress on the tracker mortgage examination, which was published last month, approximately 13,000 impacted accounts were identified as at the end of September through the industry-wide Central Bank examination. Prior to the examination, the Central Bank ensured a further...

Ceisteanna - Questions - Priority Questions: Tracker Mortgage Examination (30 Nov 2017)

Paschal Donohoe: In recent weeks I met the Governor of the Central Bank again on this and other matters. I also met the Financial Services Ombudsman, whose organisation will play a very important role in the aftermath of more citizens receiving compensation and redress from the banks. As to whether I expect the numbers to grow, the answer is "Yes, I do". That is why I was clear that a crucial piece of work...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I thank the committee for the opportunity to present to it a proposal for two Supplementary Estimates within the Public Expenditure and Reform group: a net Supplementary Estimate of €6.5 million, or a gross figure of €10.5 million, in respect of Vote 12 – Superannuation and Retired Allowances, and a Supplementary Estimate of €664,000 in respect of Vote 17 - Public...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I can respond to the Deputy's second point by saying that the work which needs to take place to overhaul and modernise human resources practices within our public and civil services needs to be led by a line Department. While the Public Appointments Service will be doing various pieces of work in this area, I envisage that it will continue to focus most of its work on appointments and on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: Up to now, we have not been asked to take documents like the forthcoming Public Service 2020 document to the Oireachtas. I will be very happy to circulate it and make everybody aware of it. We are hoping to launch it and have it in place before the end of the year. My number of appearances before the committee is growing, but maybe we can make arrangements with the committee to fit in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I would be eager to launch it internally if possible because a sizeable amount of work has gone into it. I hope this will happen before the end of the year. Maybe I can come before the committee in January to highlight some of the good work that is under way. It is understandable, particularly after the week we have had, that we all hear about the difficulties. I would welcome an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: I thank the Chair for recognising that I have to take questions to the Minister for Finance in the Chamber at 10.30 a.m. I agree with almost everything Deputy Burton has said. The first point she made related to the status of public service pensions that are currently being paid. As the Deputy will acknowledge, this is an immensely complicated environment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: The reason for this complexity is simple, but the consequences of it are hugely complicated and multilayered. Broadly, three different pension schemes are in operation for those who joined the public service up to 1995, those who joined between 1995 and the end of 2012 and those who have joined since the start of 2013. The number of people retiring from the public service hit a particular...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: While I have explained what will happen by the end of 2020, of course the kind of amelioration a pensioner will get will depend on when he or she retired. That is where the complication kicks in. Broadly, by the end of 2020, anybody who has a pension of between €50,000 and €53,000 will have the public service pension reduction eliminated. By the time we get to next year,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2017
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary) (30 Nov 2017)

Paschal Donohoe: Yes.