Results 301-320 of 34,380 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Just to go back to the points I was making to Deputy Ó Broin, it is not at all my intent to make any of these changes with regard to the Land Development Agency in any way discharging its cost-rental portfolio at any point in the future. I do envisage - and this may be a point of difference between the Deputy and me - a cost-rental scheme in the years ahead in which the private sector...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: That is different from the presentation and argument we received from the LDA. The argument we received from the LDA - we are cognisant of it also being the case for the wider cost-rental sector - is that tax is included in the calculation of cost. The presentation we received is that the various components with regard to cost are capital cost, management and maintenance cost, financing...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I have just given the answer to the Deputy. We may just have nearly a theological difference, as it were, here. The presentation and information I have received from the LDA is that tax is part of the cost calculations it has to bear. At what point it appears in its calculations and on the balance sheet is a matter for it to further explain, both to me and to this committee, but the LDA...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I have said I am very happy to furnish Deputy Doherty with the granular detail behind that cost, and to make it available to Deputy Ó Broin as well.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I should have said that, in the spirit of being helpful, if any Deputy asks for information, it will be available to all members of the committee.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: The LDA did not raise the matter with me. I should say the engagement that I had on this was with the Department of housing rather than the LDA. It is appropriate that the Department of housing should raise the matter with me. Given that I believe it is likely that the LDA would see a degree of gain in its post-tax income due to this change, my firm anticipation was that the gain, whatever...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Yes, but in relation to the tax the LDA pays on existing cost-rental accommodation, a measure like this will alleviate that tax. My expectation is that the gain would then be used in a way that would allow further cost-rental accommodation to be provided in the future.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Actually, Deputy Ó Broin is correct because it only takes effect from 8 October.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Yes, and other accommodation in the future that would be designated as cost rental, so it could be built by AHBs or by the private sector.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Yes, that is correct.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: As I have explained, legally I have been informed that is not possible for the LDA properties.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: No, those that are built.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputies.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank all the Deputies for their points. I will deal with each of them in turn. First, with regard to cost, the estimated first-year cost of the Finance Bill 2025 enhancement to the research and development tax credit is €169.9 million. The estimated Exchequer cost of the enhancement is €305.9 million. The difference in the first-year cost and the full-year cost is due...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: -----so am sensitive to it. I take the Deputy's point. One of the things we have to look at is how we can simplify our tax code in this area. We are getting feedback from small and large companies that this is a particularly complex part of our corporate tax regime. I am conscious that we have to see whether we can clarify matters and make it easier for companies to access. Figures...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: On making the decision, the officials involved in doing the review are the same officials who worked with me while I considered this decision. I am therefore able to access their knowledge and wisdom on this as they complete the review. In any event, I have to look at the different policy choices available and, in line with them and based on the engagement I have, identify the policy...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputy for his questions. On the distribution of the change in the R and D tax credit, it is fair to assume that the majority of companies that will be benefiting from this change will be companies that will be inside the scope of pillar 2 and have a turnover of more than €750 million. That is consistent with the information that Revenue publishes all the time trying to...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I do not know that. I am told that we will not have that information available to us until the pillar 2 returns come in, which I am told will be June 2026.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: My official, who was involved in all of this, assures me that it was developed off this table here, which is the information I have been using this evening, so it is the same line of thinking. There is no other information available.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: That is what I have been saying all evening.