Results 241-260 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Industry (29 May 2025)

Paschal Donohoe: I recognise the concerns felt by businesses across the country about the cost and availability of public insurance cover. The most recent Central Bank National Claims Information Database (NCID) report on employers’ and public liability and commercial insurance shows that in 2023, 56 per cent of policies had a premium of less than €1,000, and 90 per cent had a premium under...

Written Answers — Department of Finance: Banking Sector (29 May 2025)

Paschal Donohoe: I thank the Deputy for the question. As you are aware, this Government is committed to meeting the needs of our society by building more homes, of all tenure types, across the country. Embedding a sustainable property industry in Ireland is also an important factor in maintaining our economic development and growth. Last year, Government approved new national housing targets, aiming...

Written Answers — Department of Finance: Financial Services (29 May 2025)

Paschal Donohoe: Financial literacy and education are an important part of financial consumer protection. Financial literacy works alongside many other consumer protections in place to help consumers make the most of their money, make informed decisions and improve their financial resilience and wellbeing. I published Ireland’s first National Financial Literacy Strategy in February this year. This...

Written Answers — Department of Finance: Tax Yield (29 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 19 and 78 together. Income tax receipts to end-April stood at €11.7 billion, an increase of €0.5 billion (c. 4½ per cent) on the same period last year. This is a clear signal of the strength of our labour market. For the year, income tax is projected at €36.7 billion, an increase of 4½ per cent. Regarding corporation tax,...

Written Answers — Department of Finance: Tax Code (29 May 2025)

Paschal Donohoe: The Small Gift Exemption of €3,000 is an annual Capital Acquisitions Tax (CAT) relief available to all recipients of gifts. It should be noted that there is no limit on the number of small gifts a person can receive in a year from different donors. Finance Act 2003 increased the small gift exemption threshold from £1,270 to the current threshold of €3,000. Furthermore, a...

Written Answers — Department of Finance: An Ghaeltacht (29 May 2025)

Paschal Donohoe: Níl aon ról ag mo Roinn maidir leis an liúntas Gaeltachta. Tá pá agus coinníollacha na héarnála poiblí faoi chúram mo chomhghleacaí, an tAire Caiteachais Phoiblí, Infreastruchtúir, Athchóirithe na Seirbhíse Poiblí agus Digiteachú.

Written Answers — Department of Finance: Economic Policy (29 May 2025)

Paschal Donohoe: While our economy – in aggregate terms – is undoubtedly in a strong position at present, the near-term outlook is clouded in considerable uncertainty. In particular, regarding the future of the rules-based, multilateral trading system. Earlier this month, the Government published Ireland’s Annual Progress Report , which sets out my Department's macroeconomic and fiscal...

Written Answers — Department of Finance: Insurance Coverage (29 May 2025)

Paschal Donohoe: As Minister of State with special responsibility for Insurance matters, I am very conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses. Current Government policy is focused on the development of a sustainable, planned and risk-based approach to managing flooding. Accordingly, €1.3 billion has been committed to...

Written Answers — Department of Finance: Interest Rates (29 May 2025)

Paschal Donohoe: The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB). The ECB increased official interest rates over the course of 2022 and 2023 as it moved to combat excess inflation. However, since last summer it has now reduced official interest rates on seven occasions, most recently with effect from 23 April 2025. These recent monetary...

Written Answers — Department of Finance: Central Bank of Ireland (29 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 28, 67 and 68 together. The Central Bank does not sell or oversee the sale of Israeli bonds. The Central Bank is designated as the competent authority in Ireland for the approval of securities prospectuses under the Prospectus Regulation. As the competent authority, the Central Bank is responsible for assessing whether a prospectus has been drawn up in...

Written Answers — Department of Finance: Tax Yield (29 May 2025)

Paschal Donohoe: In 2021, several measures were introduced with the aim of dis-incentivising investment funds from buying up large numbers of completed houses, including a higher 10 per cent rate of Stamp Duty on the bulk acquisition of houses (apartments are excluded), which is legislated for in section 31E of the Stamp Duties Consolidation Act (SDCA) 1999. The standard rates of stamp duty applying on...

Written Answers — Department of Finance: Economic Growth (29 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 30 and 77 together. I want to reiterate the Government’s view that the imposition of tariffs is deeply regrettable. While a pause on the implementation of reciprocal tariffs is welcome, there remains significant uncertainty surrounding future trade policy and tariffs remain at historically high levels. Government has been in continued discussion at...

Written Answers — Department of Finance: Housing Schemes (29 May 2025)

Paschal Donohoe: The Help to Buy incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also has as an aim to encourage additional supply of new houses by supporting demand. Help to Buy provides a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in...

Written Answers — Department of Finance: Tax Credits (29 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 32 and 46 together. It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. Ireland has a progressive income tax system which is structured such that the more income you earn, the more tax you pay. As a person’s income increases, they move up through the various rates and bands and,...

Written Answers — Department of Finance: Official Engagements (29 May 2025)

Paschal Donohoe: The Irish League of Credit Unions (ILCU) represents the majority of credit unions on the island of Ireland. As of September 2024, 167 out 183 credit unions in the State are members of ILCU. At the 2025 ILCU Conference held in Belfast, Minister of State Troy provided an opening address.In his opening address Minister Troy touched on several important issues for the sector including: The...

Written Answers — Department of Finance: Tax Reliefs (29 May 2025)

Paschal Donohoe: As stated in the Programme for Government, this Government proposes to bring forward measures to support small and medium enterprises (SMEs), in particular the retail and hospitality sectors, acknowledging the increased cost pressures on these sectors. These measures will be implemented as part of the normal budget process as resources allow. The Department of Enterprise, Trade and...

Written Answers — Department of Finance: Housing Schemes (29 May 2025)

Paschal Donohoe: The Help to Buy incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also has as an aim to encourage additional supply of new houses by supporting demand. Help to Buy provides a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in...

Written Answers — Department of Finance: Insurance Industry (29 May 2025)

Paschal Donohoe: Under Section 56 of the Road Traffic Act 1961, motor insurance is required to drive a mechanically propelled vehicle in a public place. This legislation is under the remit of the Minister for Transport. As the Deputy is aware, neither the Minister for Finance nor the Central Bank of Ireland can intervene in insurance pricing or provision under the EU's Solvency II directive. According...

Written Answers — Department of Finance: Economic Policy (29 May 2025)

Paschal Donohoe: In aggregate, the labour market is in a strong position at present. The Labour Force Survey, published last week, shows the level of employment increased to over 2.8 million in the first quarter, with three-quarters of the working age population now in employment. These figures have never been higher. The unemployment rate, meanwhile, fell to 4 per cent, its lowest rate since 2001. ...

Written Answers — Department of Finance: Fiscal Policy (29 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 38 and 74 together. The Irish economy entered 2025 in a strong position, with Modified Domestic Demand growth of 2.7 per cent last year. Consumer spending increased by 2.3 per cent reflecting, in part, the easing of inflation last year, with core inflation (i.e. excluding energy and processed food) averaging 2.4 per cent, amongst the lowest recorded rates in...