Results 201-220 of 32,527 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (3 Apr 2025)

Paschal Donohoe: I am, of course, very aware of the difficulties the increase in interest rates in recent years has caused to many mortgage borrowers. From a regulatory perspective, the Central Bank has put in place a range of measures to protect consumers who have or who are taking out a mortgage. The consumer protection framework, which applies in the same way to all regulated mortgage entities such as...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (3 Apr 2025)

Paschal Donohoe: I have three points in response to that, the first of which is that the best prospect we have to see all mortgage holders pay lower interest on their loans in the time ahead is to see a change in general interest rates within our economy. I welcome the decisions that have been made in recent months by the European Central Bank, ECB, in that regard. Second, I emphasised at all times...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (3 Apr 2025)

Paschal Donohoe: Third, what we have seen is some switching take place and I, of course, want to look at how we can see further switching take place from the non-bank back to the bank sector.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Relations (3 Apr 2025)

Paschal Donohoe: Based on the papers published and the analysis we have done, the answer, which is subject to a number of assumptions, is that the Deputy is broadly correct. The issue is what happens to the assumptions. The assumptions in the paper in question assume that investment levels will be stable in our economy. The question is whether the assumption relating to the decisions made, their impact on...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Relations (3 Apr 2025)

Paschal Donohoe: I am struck by the value the Deputy places on negotiation and dialogue, particularly as his party made clear it would not go to the Oval Office. The Deputy's party leader and the First Minister of Northern Ireland indicated they would not engage with the United States across the St. Patrick's Day programme.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Relations (3 Apr 2025)

Paschal Donohoe: That is the case.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Relations (3 Apr 2025)

Paschal Donohoe: Given that his party made clear it would not engage politically with the Trump Administration, why is he advocating the benefits of negotiation? Why is he making the case for the benefits of dialogue? I welcome the fact he was doing so, but how is that consistent with the announcement his party made, to some fanfare and prominence, that it did not want to engage with the political...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Relations (3 Apr 2025)

Paschal Donohoe: The response the Government will put in place has three different levels. First is the engagement we will have with the institutions of the European Union and other governments in the EU to look at what the response should be. We believe any response should be proportionate and needs to create the incentives and environment within which negotiation can take place. Second, through IDA...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Relations (3 Apr 2025)

Paschal Donohoe: The Deputy referred to three issues. First, the impact on our economy of the response to what has happened in the US was modelled in the paper published by the Department of Finance and the ESRI. The response of the EU to this will become clearer in the time ahead and we will aim to influence that and, of course, be part of it. Second, the Deputy is correct; the issue of the implication...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions (3 Apr 2025)

Paschal Donohoe: I apologise for being a few minutes late. I was not aware of the change in the time. I did not mean to keep the Cathaoirleach Gníomhach or colleagues waiting. I am in his hands with regard to this. Important announcements were made last night. I am happy to answer questions in whatever way the Cathaoirleach Gníomhach sees fit or whatever way can be agreed by the Dáil. I...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Relations (3 Apr 2025)

Paschal Donohoe: Before I get into the important specifics the Deputy raised, I will reflect on the announcements relating to the tariffs introduced by the Trump Administration. Free trade has been at the centre of the Irish and European economies for many decades. However, it is clear that the global economic landscape has changed. Tariffs are being imposed in respect of trade into the United States at a...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a beneficiary-orientated tax that is charged on gifts and inheritances that is payable by the recipient (i.e. the beneficiary) as opposed to the person providing that gift or inheritance (i.e. the disponer). ?CAT is not payable on gifts or inheritances if the taxable value is below a particular lifetime threshold and the applicable threshold depends on the...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Capital Acquisitions Tax (or “CAT”) is a tax which applies to both gifts and inheritances and is charged at a rate of 33%. For CAT purposes, the relationship between the person giving a gift or inheritance and the person who receives it determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. Along with tax free group...

Written Answers — Department of Finance: Company Law (3 Apr 2025)

Paschal Donohoe: There is a comprehensive legal and regulatory framework governing the provision of credit to consumers, and which applies to all borrowers. However, the Deputy refers to companies offering to re-mortgage of properties, especially in the context of older citizens, and in that context I assume he specifically referring to lifetime mortgages. Lifetime mortgages are a particular type of...

Written Answers — Department of Finance: Tax Collection (3 Apr 2025)

Paschal Donohoe: Ireland’s taxation of fuel and electricity is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). ETD provisions on mineral oils are transposed into national law in Finance Act 1999 (as amended). Finance Act 1999 provides for the application of excise duty, in the form of Mineral Oil Tax (MOT) to liquid fuels that are...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: I remain fully committed to maintaining a competitive business environment which continues to deliver economic growth and prosperity. The Programme for Government sets out a number of commitments including to the maintenance of a broad tax base while implementing progressive changes in taxation as the economy allows, supporting innovation and entrepreneurship and maintaining...

Written Answers — Department of Finance: Departmental Consultations (3 Apr 2025)

Paschal Donohoe: Financial literacy and education are key components of financial consumer protection as they cover people’s awareness, behaviour, knowledge, attitudes and skills towards money. They are an important life skill that everyone should have, which will ultimately benefit people’s overall financial resilience and wellbeing at all stages of their life. Following a recommendation...

Written Answers — Department of Finance: State Assets (3 Apr 2025)

Paschal Donohoe: At the end of 2023, direct investments by the Ireland Strategic Investment Fund, ISIF, in companies on the UN database was approximately €4.2 million in 11 companies. ISIF’s indirect investments included eight companies, totalling approximately €9.4 million. ISIF divested from six of these companies with a total value of approximately €2.95 million in 2024....

Written Answers — Department of Finance: Insurance Industry (3 Apr 2025)

Paschal Donohoe: As the Deputy may be aware, the Equal Status Acts 2000-2018 are under the remit of the Minister for Justice. The legislation protects against discrimination on nine specific grounds, including age. However, the legislation also provides that people can be treated differently on any of the grounds (except gender) in relation to the provision of annuities, pensions, insurance policies or any...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Prior to 2000, the income tax system allowed for full joint assessment of married couples. This meant that a married one earner couple could use the combined tax credits and standard rate band available to both individuals – i.e. double the personal tax credit and standard rate band available to a single earner. As a result, where the primary earner of a married couple had sufficient...