Results 23,421-23,440 of 32,864 for speaker:Paschal Donohoe

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: I recognise he has the right, but he certainly does not have the track record to comment on the merits of economic policy options being considered by the Government. As I outlined already, I am very clear on what the long-term endpoint will be for the USC. We have a new Minister for Finance and a new Taoiseach. We are entitled to make our assessments of the landing points for important...

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: -----and in the meantime we will look to reduce the cumulative tax burden for employees and citizens in a way consistent with the programme for Government.

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: The Deputy is just disappointed I actually answered his question. To find Sinn Féin coming in here and accusing any other party of taking populist positions on their policy choices is beyond the pot calling the kettle black.

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: The Deputy's party has consistently stood up here and said all could be achieved without the need to make changes in economic policy.

Ceisteanna - Questions (Resumed) - Priority Questions: Universal Social Charge (5 Jul 2017)

Paschal Donohoe: The Deputy's party has consistently stood up here over many years, as has Deputy Doherty, and said that the change in circumstances in our country would not happen, that the changes made in economic policy to get our country to this point would not be successful, and that we would not see a return to employment. This has happened. I have outlined to the Deputy my view and the Taoiseach's...

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: As the Deputy will be aware, during the Committee Stage debate on the Finance Bill 2016 my predecessor agreed to commission an independent impact assessment of the effects of the help-to-buy scheme incentive for completion prior to budget 2018. Following a competitive tender process, Indecon Economic Consultants was appointed in April to undertake the assessment. The purpose of the project...

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: I have outlined the Government's stance on the matter which has been reiterated by other Ministers who have commented publicly on it recently. The process is as I have outlined. If changes are due to be made to the scheme, I will signal them well in advance understanding the effect my words about the scheme might have on those who are considering using it or may already have applied. To...

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: For one who is concerned about the effects comments could have on the housing market, the Deputy's own suggestion that the uncertainty about the scheme has been increased by me in outlining a process for which his own party looked and to which the Government agreed is not consistent. I have outlined the process which is to evaluate-----

Ceisteanna - Questions (Resumed) - Priority Questions: Help-To-Buy Scheme (5 Jul 2017)

Paschal Donohoe: I have outlined how it is to work and been very clear that I understand the value of the scheme. I have shared with the Deputy figures that show the help it offers to people who are looking to purchase a home. The Government's position on the matter is very clear. What I am doing is outlining a process that the Deputy sought, indicating how I will use it and recognising that the...

Written Answers — Department of Finance: Economic Competitiveness (5 Jul 2017)

Paschal Donohoe: Ireland’s economic recovery has been underpinned by a significant improvement in competitiveness.  The latest figures from the Central Bank of Ireland show that Ireland's real harmonised competitiveness indicator, a widely used measure of competitiveness in Europe, has improved by approximately 20 per cent between its peak in 2008 and May 2017. Progress can also be seen in our...

Written Answers — Department of Finance: Fiscal Policy (5 Jul 2017)

Paschal Donohoe: My Department carries out and publishes the results of fiscal stress tests on a frequent basis. The annual Stability Programme Update (SPU) submitted to the European Commission each April complies with European requirements, including the Code of Conduct agreed between the Commission and the Member States.  EU requirements are that economic and budgetary forecasts use the most...

Written Answers — Department of Finance: Insurance Compensation Fund (5 Jul 2017)

Paschal Donohoe: Following on from the Supreme Court decision on Setanta, it is my intention to bring certainty to the structure of the compensation framework in the future, particularly in the event of a liquidation of an insurer that is providing motor insurance in the State.  In order to achieve this certainty, draft Heads of a Bill to amend the Insurance Act have been prepared and will be brought to...

Written Answers — Department of Finance: Corporation Tax Regime (5 Jul 2017)

Paschal Donohoe: Loss relief for corporation tax is a standard measure available through the Irish Corporate Tax system. It allows for losses incurred in the course of business to be accounted for when calculating a business’ tax liabilities. In effect, this recognises that business cycles run over a longer period than a year, and that a business can have substantial profits one year and substantial...

Written Answers — Department of Finance: Motor Insurance Costs (5 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 31, 48, 68 and 69 together. The Cost of Insurance Working Group, chaired by former Minister of State Eoghan Murphy T.D., finalised its Report on the Cost of Motor Insurance in December 2016 and it was published on 10 January 2017. The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, which are clearly set...

Written Answers — Department of Finance: Tax Code (5 Jul 2017)

Paschal Donohoe: I have asked my officials to prepare a paper to examine the policy options with regard to the amalgamation of USC and PRSI, as one of a range of potential policy options for the short and medium term. As we have already discussed here this morning in response to Deputy Doherty’s priority question, our current three-part system of personal taxation is overly complex and can be...

Written Answers — Department of Finance: Budget Consultation Process (5 Jul 2017)

Paschal Donohoe: The Government’s plans to reduce the income tax burden for all taxpayers, with a particular focus on low to middle income earners, were clearly stated in the Programme for Government published in May 2016. The Programme for Government recognises that high personal tax rates in Ireland discourage work and jobs and have a negative impact on our international competitiveness....

Written Answers — Department of Finance: European Banking Sector (5 Jul 2017)

Paschal Donohoe: The EBA is an integral part of the European System of Financial Supervision that was established after the financial crisis. It is key that the Authority can continue its critical work with minimal disruption during the transition to a new location.  The view of the Government is that relocation to Dublin would result in the least amount of disruption for both the Authority and its...

Written Answers — Department of Finance: Insurance Costs (5 Jul 2017)

Paschal Donohoe: The Cost of Insurance Working Group is in its second phase examining the cost of employer liability insurance and public liability insurance and has so far met nine times this year, including this morning (July 5 2017), which is the first meeting that I have chaired as Minister of State.  During this time the Working Group has held extensive consultations with a range of stakeholders and...

Written Answers — Department of Finance: Brexit Issues (5 Jul 2017)

Paschal Donohoe: My Department has incorporated the estimated impact of a “hard” Brexit into the macroeconomic forecasts published in the Stability Programme Update 2017. This shock is projected to reduce GDP growth by approximately 0.7 percentage points on average per annum over the 2019-2021 period (i.e. relative to what would otherwise have been the case). These forecasts were endorsed by...

Written Answers — Department of Finance: European Investment Bank (5 Jul 2017)

Paschal Donohoe: I met the EIB President, EIB Vice President Andrew McDowell and other representatives of the Bank in Luxembourg on 23-24 May in the second formal meeting of the general EIB Ireland Financing Group. There was a wide ranging discussion on the capital and infrastructural needs of the Irish economy and the key issues that arise in trying to address these needs. This discussion included the...