Results 3,301-3,320 of 32,432 for speaker:Paschal Donohoe

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: Energy policy, including the increasing costs of energy supply and taxation and profit, is a matter of key concern to the Government. In April, the Government approved and published the National Energy Security Framework, which sets the overarching response to the impact of the war in Ukraine on the energy system here in Ireland. In late September, Ireland, along with our fellow member...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I thank the Deputies for raising this important topic. I will answer some of the questions put to me, by Deputy Barry, in particular. We do not have information or guidance at present from the ECJ regarding when the final hearing relating to the Apple case will happen. I imagine that at this point in the year it will probably be some time in 2023 but that-----

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I do not have information relating to the case. As I said, I imagine that at this point it will probably be next year but that is just my judgment. We do not have guidance regarding when it will happen. Deputy Boyd Barrett made reference to the note I shared with him regarding trying to provide a range on the impact of corporations and large employers on our economy in 2022 and 2023....

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: As I indicated earlier, the issue of refundable tax credits is something my Department looked at a number of years ago but I believe it now merits further consideration. On Committee Stage, I said that this would be done through the Tax Strategy Group, TSG, process. I do not believe the implementation of this will be as simple as Deputy Doherty is saying, but I accept it is a matter that...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I am going to ask my officials to look at the issue of refundable tax credits in the context of the tax strategy group, TSG, process which will be done next year and will lead to reports being made available to the public before budget 2024. I listened to the issues that Deputy Doherty raised on Committee Stage. It is worth making the point that the very high income earners to whom he...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: Excuse me. I apologise to the Dáil and to the Deputy in that regard. As he will be aware we operate a pension system where contributions and pension fund gains are exempt from income tax but income from pension drawdown is taxed. Where data is available in regard to the Exchequer cost of tax relief for pensions, it is publicly available and included in the Revenue Commissioners...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I have made the key points on this. The average level of income that is set aside as per differing levels of income within our economy is reasonably consistent at 3% to 6%. Many of the individuals to whom the Deputy is referring as the 1% play an important role in the generation of income, employment and important public services in our country and who through our progressive tax code pay a...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: As the Deputy and the House will be aware, mortgage interest relief for principal private residences was phased out on a gradual basis over the period between 2009 and 2020. The decision to abolish this relief was taken in the wake of the financial crisis, with the cost of the relief being one of the influencing factors. For example, in 2008 the scheme cost in excess of €700 million...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: A deduction, as has just been described, provides relief from income tax on up to €35,000 for employees who are tax resident in Ireland but travel out of the State to temporarily carry out duties of their office or employment in certain qualifying countries. In this way, it acts as incentive to Irish businesses seeking to develop and expand into emerging markets in any of the 30...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: The Government and I have shown the commitment we have to make a difference to the huge challenges many are facing by increasing the funding in our capital building programmes for local authorities all over the country to build more social and affordable houses and by our efforts to support the private sector to deliver more homes. I refer to the role and impact of the help to buy scheme,...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: Whether it is San Francisco or Berlin, or even in the debate taking place regarding the implementation of a rent freeze in Scotland, the warnings are clear. Of course it delivers a benefit to those in rental accommodation who need support but it will deter the supply of more rental accommodation in future. This is why, even though I can understand its attraction, such a measure would lead...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: Do Deputies see the typical approach here from Deputy Doherty? What he does is create the impression that I, as Minister, have an approach that is all about driving up rents at the expense of tenants. The Deputy asks me or suggests that I have some figures in my mind regarding how much I want rents to go up by and creates the impression that I am not sympathetic or aware of the challenges...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: -----and, in fact, in the face of the track record that some of the policies he is advocating have been bad for supply and bad for making more rental accommodation available. I understand why the Deputy makes that claim. I will reassert that in many of the different debates that Deputy Doherty and I have, I do not make the case about what the Deputy's intentions are and what he is...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: -----by saying that I have a goal in relation to how much I would want rents to go up.

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: That is typical. We have more evasion from the Deputy.

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: He says I am thinking about what I want to do based on how rents go up.

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: There he goes. He just said it again.

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I am clear on what I am looking to do.

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I thank the Acting Chairman. What I am looking to do here, conscious of the big challenge and need that so many face at present, is to build more homes and make more rental accommodation available. I appreciate that it is taking time and it will take time for these measures to be felt and to have the effect I want to see. While I accept the evidence is not fast enough for many, we are...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: In my earlier contribution, I said my objective was to increase supply. The record of the Dáil will show whether or not I gave a commitment here this evening to reduce prices. I do not believe I did. What I said was that the aim of Government policy is to increase supply. I believe that increasing supply over time will lead to a reduction in the price pressure that is there and is...