Results 21,581-21,600 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Aid Investigations (23 Nov 2017)

Paschal Donohoe: Ireland has never accepted the Commission’s analysis in the Apple State aid Decision. However, we have always been clear that the Government is fully committed to ensuring that recovery of the alleged Apple State aid takes place without delay and has committed significant resources to ensuring this is achieved as quickly as possible whilst ensuring that the interests of the Irish...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (23 Nov 2017)

Paschal Donohoe: The Central Bank of Ireland (the Central Bank) does not regulate unregulated loan owners. The Central Bank therefore has no role in monitoring the methodology used by unregulated lenders to calculate mortgage arrears. However, the Central Bank is responsible for the regulationof bank lenders and non-bank lenders. This includes the monitoring of regulated entities’, including bank...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (23 Nov 2017)

Paschal Donohoe: I have been informed by the Central Bank that it has been advised of the introduction of some changes to the way monthly loan payments are calculated. The Central Bank advised me that it has been considering this issue, however due to statutory confidentiality requirements, the Central Bank may not publicly disclose much of its supervisory engagement with individual firms.

Written Answers — Department of Finance: Financial Services Ombudsman Data (23 Nov 2017)

Paschal Donohoe: Given the breadth and number of both financial services and products and the conducts complained of by consumers, I understand that it is not possible for the Financial Service Ombudsman to capture and categorise the detailed nature of each complaint to him. I have been informed that the Financial Services Ombudsman's Bureau does not currently capture data at the level...

Written Answers — Department of Finance: Mortgage Data (23 Nov 2017)

Paschal Donohoe: The Central Bank has informed me that it has been considering this issue but is not in a position to release supervisory information regarding any institution. Due to statutory confidentiality requirements, the Central Bank may not publicly disclose much of its supervisory engagement with individual firms. In particular, the Central Bank can, generally speaking, only disclose such...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (23 Nov 2017)

Paschal Donohoe: The Central Bank of Ireland (the Central Bank) does not regulate unregulated loan owners. The Central Bank therefore has no authority to investigate and impose a fine on an unregulated loan owner. However, under the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 (2015 Act), if a firm who bought loans from an original lender is unregulated then the loans must be serviced...

Written Answers — Department of Finance: Motor Insurance Regulation (23 Nov 2017)

Paschal Donohoe: At the outset the Deputy should note that it was the Liquidator who commissioned actuarial consultants, Willis Towers Watson, to carry out an analysis of Setanta Insurance’s claims reserves as at 30 June 2017. The Liquidator sought this report for the purposes of internal management reporting and to assist in determining the potential shortfall in assets available to cover the...

Written Answers — Department of Finance: Motor Insurance Regulation (23 Nov 2017)

Paschal Donohoe: The failure of Setanta Insurance in 2014 and the uncertainty that followed over the compensation arrangements for claimants highlighted weaknesses in the existing insurance compensation framework in Ireland. Following the placing of Setanta into liquidation, legal proceedings commenced between the Law Society of Ireland and the Motor Insurers Bureau of Ireland. In May of this year, the...

Written Answers — Department of Public Expenditure and Reform: Community Employment Schemes Supervisors (23 Nov 2017)

Paschal Donohoe: At the most recent meeting of the Community Sector High Level Forum, in April of this year, my Department outlined its intention to conduct a detailed scoping exercise in order to comprehensively examine and assess the full potential implications of the issues under consideration. In considering the particular matter referred to, regard must be had to the costs and precedent of such an...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: I will conclude briefly. I never said that any Opposition Deputy was anti-jobs. I simply said that Deputy Boyd Barrett and Deputy Murphy never mentioned them. I simply made the point that Deputy Doherty gave jobs a passing reference. That is what I said. I do not base my arguments on appeals to patriotism. I believe we should be able to openly critique and debate policy. However, we...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: He suggested we could double our revenue by doubling the rate.

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: The idea that we would be able to make significant changes in the tax code, as has been suggested by Deputy Murphy and Deputy Boyd Barrett, but not create opportunities that would be used by others to affect the share of jobs and investment in our country does not reflect the kind of world that Ireland is competing in.

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: Pimp out our country: is that the best the Deputy has to offer? I am proud of the efforts of successive Governments to attract investment into our country. If the best that the Deputy can offer in a serious debate is to describe this as "pimping out our country" and if the only reference he can make to jobs is the phrase "anti-jobs", he is doing a grave disservice to the role of...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: We do not anticipate a significant gain for the State from the change in amendment No. 27 but I still believe that the change needs to be made. Part of this was dealt with by the Minister of State, Deputy D'Arcy, on Committee Stage and I understand that the committee went into private session to allow a number of technical questions which were raised by Deputies to be answered by the Revenue...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: Yes.

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: I will get clarity on the point put to me by Deputy Doherty. I am making this change because I want to ensure that we are treating these gains in the right way. The Deputy is asking me a question which I cannot answer now, but I will do so at the latest over the course of the Bill's passage through the Seanad. I do not want to answer it and unintentionally mislead the Deputy or the House....

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: I move amendment No. 27:In page 30, line 37, to delete “disposals occurring” and substitute “disposals occurring, or unrealised profits or gains recognised in the income statement,”. This amendment is technical in nature. On Committee Stage I introduced an amendment to the Irish real estate fund, IREF, regime to remove, from 1 January 2019, the exemption which...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: Before the Finance Bill, IREFs that held property assets for more than five years were to be exempt from capital gains tax. This year's Finance Bill removes that exemption. As a result, where property assets are sold after 1 January 2019 and gains are distributed to investors, the IREF will apply a 20% withholding tax on those distributions unless the investors are exempt as is the case,...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: I agree that an important starting point would be to define what constitutes a vacant home. One element will involve defining for how long a property has been vacant. We can begin to tease that out. If we set a definition that a home has to be vacant for more than a year, for example, we then get into questions regarding who determines that. Is it a local authority? Is it the Revenue...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Paschal Donohoe: Everything was going well with Deputy Doherty's contribution until he made the point that he had not been expecting me to introduce the amendment and that my word that I would undertake this report would have been enough. However, I have decided to introduce it because we need to crystallise and understand this issue. There has been much debate in recent months on the role of such a tax. I...