Results 23,601-23,620 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: NAMA Portfolio (29 Jun 2017)

Paschal Donohoe: I would firstly refer the Deputy to page 46 of NAMA's recently published 2016 Annual Report. The report contains a significant amount of information on NAMA's remaining loan book and upcoming plans.  NAMA's 2016 Annual Report can be accessed via: As per page 46 of the 2016 NAMA Annual Report, the outstanding principal balance of NAMA’s loans and receivables portfolio...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (29 Jun 2017)

Paschal Donohoe: Under Part IIIC of the Central Bank Act 1942, the Central Bank may hold an inquiry to determine whether or not a financial service provider is committing or has committed a prescribed contravention.  The Central Bank may also hold an inquiry to determine whether or not a person concerned in the management of a regulated financial service provider is participating or has participated in...

Written Answers — Department of Finance: Tax Code (29 Jun 2017)

Paschal Donohoe: Arising from the agreement of the Minister at the Report Stage of the Finance Act, 2016 to consider the tax treatment of solar panels on farmland, an Interdepartmental Group was established to consider the issues involved. This work is ongoing and I expect the Group to report to me with its recommendations soon, which will allow me to consider the matter in the context of Budget 2018/Finance...

Written Answers — Department of Finance: State Banking Sector (29 Jun 2017)

Paschal Donohoe: As the Deputy will be aware, the State last week sold 25% of AIB's ordinary share capital at a price of €4.40 per share for consideration of almost €3 billion. The State also granted an additional over-allotment option over a further 3.75% of AIB's ordinary share capital as part of this transaction. This transaction was strongly supported by a broad range of international...

Written Answers — Department of Finance: Tax Treaties (29 Jun 2017)

Paschal Donohoe: Ireland signed the Multilateral Instrument (commonly referred as to the MLI) on behalf of Ireland on June 7. Ireland was one of 76 countries that participated in the signing ceremony in Paris with 67 of those countries signing the MLI. The purpose of the MLI is to enable existing tax treaties to be modified in order to implement the tax treaty-related measures that were agreed as...

Written Answers — Department of Finance: NAMA Operations (29 Jun 2017)

Paschal Donohoe: The Deputy will be aware of my response to Parliamentary Question 246 of 20 June 2017 regarding the same topic. In that response I explained that NAMA is required, under Section 10 of the NAMA Act 2009, to obtain the best financial return from its acquired loans. I also explained in my previous response that, among the measures adopted to achieve this statutory objective, NAMA enters...

Written Answers — Department of Finance: Motor Insurance Regulation (29 Jun 2017)

Paschal Donohoe: I am advised by the Liquidator of Setanta that the actuarial report the Deputy is referring to is in the process of being commissioned. Consequently, the Liquidator does not currently have a timeline for its completion but he anticipates that he should have a clearer picture on this matter shortly. This actuarial report will update the 2014 report  carried out by Towers...

Written Answers — Department of Finance: Mortgage Arrears Proposals (29 Jun 2017)

Paschal Donohoe: The Deputy will be aware that responsibility for initiatives to protect the family home is spread across several Government Departments and therefore, I will confine my response to the issues that come under my direct responsibility. Within the remit of the Central Bank’s responsibilities for safeguarding stability and protecting consumers, its approach to mortgage arrears...

Written Answers — Department of Finance: Loan Books Purchasers (29 Jun 2017)

Paschal Donohoe: As the Deputy will be aware, the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted in July 2015.  It was introduced by the previous Government to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm.  The Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. ...

Written Answers — Department of Finance: Stability and Growth Pact (29 Jun 2017)

Paschal Donohoe: The two key pillars of the Preventive Arm of the Stability and Growth Pact (SGP) are the Balanced Budget Rule, which uses the structural balance and the expenditure benchmark. A deviation in excess of 0.5 per cent of GDP from either or both of the rules may lead to a warning of a significant deviation from the European Commission following an overall assessment that takes all relevant...

Written Answers — Department of Finance: EU Investigations (29 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 104 to 106, inclusive, together. Notwithstanding the appeal in the Apple State Aid case, the Government is committed to complying with the binding legal obligations the Commission’s Final Decision places on Ireland. Apple therefore must be deprived of the benefit of the alleged aid. The sums will be placed into an escrow fund with the proceeds...

Written Answers — Department of Finance: NAMA Loans Sale (29 Jun 2017)

Paschal Donohoe: I am advised by NAMA that, as the loans secured by the Project Shift properties were included in the Project Eagle loan portfolio, it is likely that the recently established Commission of Investigation, which is under the remit of the Department of An Taoiseach, will consider that Project Shift falls within its terms of reference.  On that basis, I am advised by NAMA that...

Written Answers — Department of Finance: Bullying in the Workplace (29 Jun 2017)

Paschal Donohoe: I am satisfied that an anti-bullying policy is in place in the Department of Finance and Bodies under the Aegis of my Department.  The Department is guided by the Dignity at Work (the anti-bullying, harassment and sexual harassment) Policy for the Civil Service which was revised by the Department of Public Expenditure and Reform and came into effect in February 2015.  This Policy...

Written Answers — Department of Finance: Small and Medium Enterprises Debt (29 Jun 2017)

Paschal Donohoe: The Deputy may be aware that the Central Bank is proactively regulating the financial system and has issued regulations aimed at protecting SMEs.  Following a review in 2015 of the Central Bank Code of Conduct for Business Lending to Small and Medium Sized Enterprises, the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-Sized Enterprises)...

Written Answers — Department of Finance: Consumer Protection (29 Jun 2017)

Paschal Donohoe: As the Deputy may be aware, provision 3.11 of the Central Bank’s Consumer Protection Code 2012 requires that, where a regulated lender intends to transfer all or part of its ‘regulated activities’ to another regulated entity, it must provide advance notification to both the Central Bank and affected consumers.  Specifically, a lender must provide a consumer with at...

Written Answers — Department of Public Expenditure and Reform: Pension Provisions (29 Jun 2017)

Paschal Donohoe: The actuarial tables currently in use for calculating transfer values via the Public Service Transfer Network (PSTN) are as follows. These tables are subject to review periodically. The tables are for use in calculating the values of retirement benefits included on the information forms. They should not be used in cases where a transfer value falls to be paid on foot of a Pension Adjustment...

Written Answers — Department of Public Expenditure and Reform: Bullying in the Workplace (29 Jun 2017)

Paschal Donohoe: In response to the Deputy’s question, my Department and the bodies under its aegis have anti-bullying policies in place in accordance with the Civil Service Dignity at Work policy.  My Department is committed to promoting respect, dignity, safety and equality in our workplace. The Dignity at Work policy is accessible to all staff and provides awareness regarding the...

Written Answers — Department of Public Expenditure and Reform: Bullying in the Workplace (29 Jun 2017)

Paschal Donohoe: In response to the Deputy’s question, my Department and the bodies under its aegis have anti-bullying policies in place in accordance with the Civil Service Dignity at Work policy. My Department is committed to promoting respect, dignity, safety and equality in our workplace. The Dignity at Work policy is accessible to all staff and provides awareness regarding the steps which...

Written Answers — Department of Public Expenditure and Reform: Capital Expenditure Programme (29 Jun 2017)

Paschal Donohoe: This Government is strongly committed to increasing public funding for capital investment in Ireland over the next four years and beyond in order to meet key infrastructural requirements in areas such as transport, broadband, education, health and flood defences. The Programme for a Partnership Government committed to additional capital investment over the period of...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (28 Jun 2017)

Paschal Donohoe: The Employment and Investment Incentive (“EII”) scheme, provided for in Part 16 of the Taxes Consolidation Act 1997, is a tax incentive whereby individuals who invest in certain qualifying companies can qualify for tax relief on the amount invested. A qualifying company is one which: - is an unquoted SME, meaning it has less than 250 employees and has an annual...