Results 21,421-21,440 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Film Industry Tax Reliefs (30 Nov 2017)

Paschal Donohoe: I am informed by the Revenue Commissioners that they are not in a position to track detailed information in relation to the trainees. However, it is possible to examine the applications for relief received during the calendar years 2015, 2016 and 2017, and the following is based on an analysis of those applications: Year No. of Film Projects(applications) No. of trainees 2015 73 243...

Written Answers — Department of Finance: Departmental Functions (30 Nov 2017)

Paschal Donohoe: My Department is the lead Department for ten key actions to enhance the State’s corporate, economic and regulatory framework. The Deputy will be pleased to learn that a number of actions have already been implemented and the others are in progress for implementation within their deadlines. My Department, in consultation with the Central Bank, has transposed MiFID II into Irish law via...

Written Answers — Department of Finance: Paradise Papers. (30 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 33 and 35 together. I am informed by Revenue that it is examining the Paradise Papers with a view to identifying all persons and entities, including Irish registered companies, mentioned in the papers with a possible connection with the State.  As these cases are identified the information from the Paradise Papers will be compared with the information...

Written Answers — Department of Finance: Motor Insurance Costs (30 Nov 2017)

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: Insurance Costs (30 Nov 2017)

Paschal Donohoe: The Cost of Insurance Working Group – which is now chaired by Minister of State Mr. Michael D’Arcy T.D. – published its Report on the Cost of Motor Insurance on 10 January 2017.  The Report made 33 recommendations with 71 associated actions to be carried out in agreed timeframes, set out in an action plan within the Report.  It is envisaged that...

Written Answers — Department of Finance: Financial Services Sector (30 Nov 2017)

Paschal Donohoe: Following the conclusion of my meetings with the CEOs of the main banks on the tracker mortgage issue, I issued a statement setting out the position and the next steps I expected to be taken towards resolution of this issue. I have asked the Governor of the Central Bank to provide me with a progress report by around mid-December on whether each of the banks have made acceptable and...

Written Answers — Department of Finance: EU Budget Contribution (30 Nov 2017)

Paschal Donohoe: My Department currently forecasts that Ireland's contribution to the EU budget will be c €2,020 million in 2017, €2,650 million in 2018, €2,675 million in 2019 and €2,750 million in 2020. It is worth noting that these forecasts are contingent on a number of variables, including the size of the overall EU budget and other EU budget...

Written Answers — Department of Finance: Vehicle Registration (30 Nov 2017)

Paschal Donohoe: I am informed by Revenue that the re-categorisation of certain vehicles from category B to category A is to ensure that a particular class of vehicles that are designed and used primarily for the carriage of passengers are taxed as such and that there is a level playing field in the taxation of passenger vehicles.  Over the past three years there has been a significant increase in...

Written Answers — Department of Finance: Tracker Mortgage Examination (30 Nov 2017)

Paschal Donohoe: As per the Central Bank’s Tracker Mortgage Examination status update of 17 October last, approximately 13,000 impacted accounts have been identified as at end September through the Examination, the majority of whom will receive their redress and compensation before the end of the year. Prior to the Examination, the Central Bank ensured a further 7,100 cases involving...

Written Answers — Department of Finance: Illicit Trade in Fuel and Tobacco Products (30 Nov 2017)

Paschal Donohoe: The serious threat that fuel fraud and the illicit tobacco trade pose to legitimate business, to consumers and the Exchequer is recognised and I am advised by Revenue that tackling this criminal activity has been one of its priorities over recent years. Revenue’s comprehensive strategy for combatting the illegal fuel trade has included the introduction of stringent new supply chain...

Written Answers — Department of Finance: Insurance Costs (30 Nov 2017)

Paschal Donohoe: At the outset, it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Therefore, 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...

Written Answers — Department of Finance: National Debt Servicing (30 Nov 2017)

Paschal Donohoe: Estimates of National Debt interest expenditure for the period 2017 – 2021 were published by my Department at the time of Budget 2018, in Table A4 on page 47 of the Economic and Fiscal Outlook document. Those estimates forecast that National Debt interest expenditure will be €6.1 billion in both 2017 and 2018, then falling to €5.9 billion in 2019, with subsequent...

Written Answers — Department of Finance: Electric Vehicles (30 Nov 2017)

Paschal Donohoe: The Finance Bill provides for a 0% rate of benefit-in-kind on electric vehicles in support of the climate action strategy set out in Ireland’s National Mitigation Plan. To further support this measure I am exempting electricity used in the workplace for charging vehicles from benefit-in-kind.  I addressed this issue during the debates on the Finance Bill when I...

Written Answers — Department of Finance: Banking Sector (30 Nov 2017)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government commits the Government to "thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions". My Department and the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs, now the Department of Community and Rural Development, are the Departments...

Written Answers — Department of Finance: Licensed Moneylenders (30 Nov 2017)

Paschal Donohoe: As the Deputy will be aware, the Consumer Credit Act 1995, the legislation under which moneylenders are licensed, does not provide for an interest rate cap.  Nor do the European Communities (Consumer Credit Agreements) Regulations 2010.  Therefore, the Central Bank has no statutory power to impose a market wide cap on rates. Any legislative proposals in this regard would have...

Written Answers — Department of Finance: Banking Sector (30 Nov 2017)

Paschal Donohoe: I should stress at the outset that the Irish Government has no formal role in the commercial decisions of the banks as to their future business model and whether or not they will close particular branches.  The Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the Boards and management of the...

Written Answers — Department of Finance: Brexit Issues (30 Nov 2017)

Paschal Donohoe: The Department of Finance has been assessing and preparing for the impact of a UK exit from the European Union since well before the referendum on 23 June 2016, with this work now intensified. The challenges which we face as a result of Brexit are mainstreamed across all divisions of my Department and are reflected in business planning. The Department’s macro-economic forecasts take...

Written Answers — Department of Finance: Stamp Duty (30 Nov 2017)

Paschal Donohoe: Budget 2018 includes a change to the rate of Stamp Duty on non-residential property from 2% to 6%, projected to raise €376 million in 2018. This is based on estimates in Revenue’s Pre-Budget Ready Reckoner, which showed the effect of a 0.5% increase in the rate on non-residential property, a €47 million increase in yield – this is multiplied up to €94...

Written Answers — Department of Finance: Tracker Mortgage Examination Data (30 Nov 2017)

Paschal Donohoe: The Central Bank has advised that as at the end of September 2017, 13,000 impacted accounts had been identified by lenders in the course of the Tracker Mortgage Examination. Lenders’ overall reviews are subject to ongoing assurance work and vigorous challenge by the Central Bank.  The 13,000 impacted accounts figure will increase in light of recent decisions by certain...

Written Answers — Department of Finance: Rental Sector (30 Nov 2017)

Paschal Donohoe: The Deputy is correct in stating that according to the latest data published by the CSO, average weekly earnings grew by 2.2 per cent on an annual basis in the second quarter of 2017, compared to annual rent inflation of 6.6 per cent. In an earlier response to the Deputy I clearly laid out the measures the Government is taking to address this difference. The fundamental issue with the...