Results 22,241-22,260 of 32,864 for speaker:Paschal Donohoe

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: It is my intention at this point that HBFI would primarily be focused on the private sector. The rationale behind this thinking is that in dealing with approved housing bodies and local authorities, my experience is that the issue they face is not the rate of interest on the credit they need. In many cases the funding they need is provided directly by the Exchequer. For this reason, my...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: I am not sure on what evidence the Deputy can conclude that I am in any way delaying on this issue. In terms of relevant timeframes, it has previously been the case that when a member state has co-operated in good faith with an understanding or direction from the Commission, the Commission will actively engage with the member state for at least two years before initiating proceedings in that...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: I have indicated a timeline to the European Commission for the potential resolution of the matter. One of the reasons I cannot publicly indicate the likely point at which it will be concluded is we are having discussions and negotiations with a company in this regard and those have to conclude in a manner satisfactory for both parties. I aim to conclude the process as soon as possible,...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: In 2011 the rate of stamp duty applying to non-residential property transactions was fixed at a flat rate of 2% as a supply-side measure. Budget 2018 increased the rate on such property transactions to 6% as of 11 October 2017. While the commercial property market has now recovered strongly, the recent sharp increase in investment in construction activity poses a risk that this could, if...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: I categorically reject the absolutely unfounded allegations made by Deputy Burton. Because she agrees with the decision I made, she can do nothing beyond making unfounded and inaccurate allegations regarding my conduct and that of my Department. The decision on this matter was treated with the utmost sensitivity by my officials and me. During the time period to which the Deputy refers,...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: I have it very clear that the behaviour of the banks in terms of their failure to return moneys properly due to people is unacceptable. The hurt and harm that has been caused to citizens as a result of the manner in which the banks have handled this issue is not acceptable to me as Minister for Finance and as a shareholder in a number of these banks. I have heard much talk of cohorts and...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: Ireland does not accept the Commission’s analysis in the Apple state aid decision.

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: 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 we have committed significant resources to ensuring this is achieved. Irish officials and experts have been engaged in intensive work to ensure that the State complies with all its recovery obligations as soon as possible and they...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: I am always happy to facilitate Deputy Pearse Doherty.

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 1 and 2 together. I have just concluded my meetings with the CEOs of Bank of Ireland, AIB, Permanent TSB, Ulster Bank and KBC to discuss the tracker mortgage examination. I and the Government are not satisfied with the progress lenders have made to date, and believe that impacted customers should by this time have had their tracker mortgages restored...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Paschal Donohoe: In respect of the desire of the House in relation to accountability over how our citizens have been disgracefully treated in this, I remind Deputies that I made the point a moment ago that the Central Bank has already imposed a fine on Springboard in respect of this and other matters. It is my strong view that the manner in which banks have handled the probe for the Central Bank, and the...

Written Answers — Department of Finance: Insurance Costs (24 Oct 2017)

Paschal Donohoe: I am aware that the livestock marts sector has encountered difficulties in relation to insurance matters, as this was the subject of a Topical Issue discussion in this House in July, and in addition, it has arisen as an issue in the course of the second phase work of the Cost of Insurance Working Group (CIWG) on employer and public liability insurance. My understanding is that the major...

Written Answers — Department of Finance: Tracker Mortgage Examination (24 Oct 2017)

Paschal Donohoe: The Central Bank published an update on the Tracker Examination on 17 October last. As part of this update, the Bank released details of their engagement with lenders thus far and the enforcement actions the Bank has so far taken. However, as the Taoiseach noted last Wednesday during Leaders' Questions, the Government is not satisfied with the progress lenders have made...

Written Answers — Department of Finance: Budget Measures (24 Oct 2017)

Paschal Donohoe: The impact of the Budget on poverty levels is assessed using the ESRI SWITCH model, which is a tax-benefit micro-simulation model used by Government Departments, including my own, to assess the distributional impact of the Budget. The Department of Employment Affairs and Social Protection (DEASP) will produce and publish a Social Impact Assessment of Budget 2018 in the coming weeks on...

Written Answers — Department of Finance: Financial Services Regulation (24 Oct 2017)

Paschal Donohoe: The first avenue of complaint for any customer aggrieved by an action of a regulated financial service provider is to complain to the entity concerned. The Central Bank’s Consumer Protection Code provides that “A regulated entity must have written procedures in place for the effective handling of errors which affect consumers.” The Code also specifies the...

Written Answers — Department of Finance: Mortgage Data (24 Oct 2017)

Paschal Donohoe: As at end-June 2017, the Central Bank figures state that 120,398 outstanding (PDH) mortgage accounts were restructured; 15,371 restructures (12.8%) were term extensions only, without any other restructure arrangement in place. In accounts where restructures include term extension as a part of the modification (i.e. multiple restructure types), 30,029 outstanding accounts incorporated a...

Written Answers — Department of Finance: Insurance Coverage (24 Oct 2017)

Paschal Donohoe: At the outset, the Deputy should note that all insurers operating in the Irish market are regulated under conduct of business rules by the Central Bank. Consequently they are required to comply with the Consumer Protection Code which sets out the rights of consumers including how claims are handled. In relation to the bringing to the attention of policyholders their rights in relation to...

Written Answers — Department of Finance: NAMA Staff Data (24 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 20 and 21 together. I wish to advise the Deputy that disclosures furnished by NTMA employees who are assigned to NAMA, pursuant to section 42(3) of the NAMA Act 2009, are considered by the NTMA in conjunction with NAMA, prior to their assignment, to ensure compliance with section 42(2) of the Act. This section requires the NTMA to ascertain, to its...

Written Answers — Department of Finance: Tax Code (24 Oct 2017)

Paschal Donohoe: I am aware of the Taxback.com survey as reported in a number of media articles. My officials have requested Taxback.com to share any underlying survey document and results.  The available information indicates that the survey was based on a sample of 800 people who were customers of Taxback.com. The question these customers were asked was “Would you agree with the...

Written Answers — Department of Finance: Tax Exemptions (24 Oct 2017)

Paschal Donohoe: Irish Real Estate Funds(IREF's) are investment undertakings (excluding UCITS) where 25% of the value of that undertaking is made up of Irish real estate assets.  The legislation was introduced in Finance Act 2016 to address concerns raised regarding the use of collective investment vehicles to invest in Irish property.  Investors had been using the structures to minimise...