Results 24,001-24,020 of 33,392 for speaker:Paschal Donohoe

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

Paschal Donohoe: I propose to take Questions Nos. 85, 90 and 95 together. My Department's most recent economic forecasts were published in the 2017 Stability Programme Update. Real GDP growth of 4.3 per cent was projected for this year while growth is forecast to average 3 per cent over the period 2018 – 2021. These forecasts have been endorsed by the Irish Fiscal Advisory Council. However,...

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

Paschal Donohoe: Ireland was the fastest growing economy in the EU in 2016.  Real GDP growth in Ireland was 5.2 per cent in 2016 compared with real GDP growth in the EU economy and euro area economy of 1.9 per cent and 1.8 per cent, respectively.  In 2016 Ireland was the second fastest growing economy among the OECD member countries, which includes both EU and non EU countries. Total economic...

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

Paschal Donohoe: The Department of Finance has been assessing and preparing for the impact of a UK exit from the European Union since well before the referendum on 23 June 2016. Work was carried out in the Department to assess the potential economic and financial sector implications arising, including through the ESRI-Department of Finance research programme study published in November 2015 titled 'Scoping...

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

Paschal Donohoe: The Government’s priorities for the EU-UK negotiations have been clearly stated. They are minimising the impact on Ireland's trade and economy, protecting the Northern Ireland Peace Process, maintaining the Common Travel Area, and influencing the future of the European Union. A critical part of the Government’s strategy and preparations for the negotiations has been to...

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

Paschal Donohoe: As Minister for Finance, I attend the Economic and Financial Affairs Council of the European Union (ECOFIN) which is responsible for EU policy in areas including economic policy.  I also attend meetings of the Eurogroup, where the ministers of the euro area member states discuss matters concerning their shared responsibilities related to the euro. Its main task is to ensure...

Written Answers — Department of Finance: Credit Availability (5 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 92 to 94, inclusive, together. As the Deputy is aware, supporting SMEs, including those in the agricultural and business community, in terms of access to finance has been a cornerstone policy for Government in our efforts to rebuild the economy and bring back jobs. Government policy is focused on ensuring that all viable SMEs have access to an appropriate...

Written Answers — Department of Finance: VAT Rate Application (5 Jul 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners that VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. A basic principal of VAT is that the final consumer bears the cost of the VAT charge; registered traders recover VAT on their input costs and charge VAT on their supplies. Where a taxable person is engaged in making taxable supplies...

Written Answers — Department of Finance: Official Engagements (5 Jul 2017)

Paschal Donohoe: The Department of Finance and the Department of Public Expenditure and Reform hosted the National Economic Dialogue on 28 and 29 June 2017 in Dublin Castle. The Dialogue was an opportunity to consider how to make best use of the available resources in the interests of all citizens. The aim was to foster discussion on how best to sustain and strengthen the recovery in the interests of all...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pay (5 Jul 2017)

Paschal Donohoe: As the Deputy is no doubt aware, my Annual Review of the operation, effectiveness and continued necessity of the Financial Emergency Measures in the Public Interest legislation was laid before the Oireachtas on 29 June. A copy of the report can be found at the following link: In the Review I found that the immediate repeal of the FEMPI legislation is unaffordable. However, the...

Written Answers — Department of Public Expenditure and Reform: Capital Expenditure Programme (5 Jul 2017)

Paschal Donohoe: The Programme for a Partnership Government committed to additional capital investment over the period of the Capital Plan to 2021, to be allocated on the basis of the outcome of the ongoing mid-term review.  As part of the review, submissions were received from Departments and a public consultation process was also undertaken by my Department. Analysis being carried out as...

Written Answers — Department of Public Expenditure and Reform: Garda Stations (5 Jul 2017)

Paschal Donohoe: The new Garda station at Mulgannon Road, Wexford Town is scheduled to be completed and ready for occupation in September 2017. When An Garda Síochána vacate the existing station at Roche’s Road, Wexford, OPW Property Management Division will examine the property to establish if there is any alternative State use for it. I am advised by the Commissioners of Public Works that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: This is a very straightforward section that lays out the contents of the agreement and makes clear that any amendment to this agreement in future must be approved by means of a Dáil resolution in accordance with Article 29.5.2° of the Constitution.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: Subsection (1) of this section provides for the approval of the terms of the agreement establishing the Asian Infrastructure Investment Bank, thereby providing approval for the State being a party to the agreement. The articles of agreement establishing the Asian Infrastructure Investment Bank are included as a Schedule. Subsection (2) of the section provides that any future amendments to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: I understand it is a constitutional requirement.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: Some debate took place in the European Union as to whether countries would join it. During the period we were considering what would be the best decision for our country to make, other countries decided to join and we now form the second group of countries from the European Union that are joining.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: My understanding is that the main difference between us and a founding member applies to the voting weights. Founding members are allocated 600 additional member votes as a result of their status. However, we are joining on the same terms as all other countries which are joining at the same point as us. We will enjoy equivalent voting rights to them.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: On the question on the difference in timing, as I said when we were weighing up the right approach for us, other countries decided to go ahead and join. The benefit of doing that, of course, was that it gave us the opportunity to observe the operation of the bank for a year and to be satisfied that we believed joining it would be right for the country. We were able to see how the governance...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: There is, in the sense that it is calculated relative to country's share of the bank overall. I will first explain how our share is calculated. Our shareholding is calculated based on the remaining unallocated capital in the bank and an applicant's GDP share relative to non-regional banks in this round of applications. An initial estimate of our percentage shareholding suggests it will be...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: We will have 1,313 shares. Luxembourg, for example, will have 697; Denmark will have 3,695; and Austria will have 5,008.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Paschal Donohoe: Yes.