Results 3,641-3,660 of 32,547 for speaker:Paschal Donohoe
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: I have spoken on all of the Government amendments. I have not yet spoken on the Opposition amendments.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: The scenario on my mind relates to a company that is a big employer in Ireland and that may be part of a global multinational company. Because of the change in energy prices in Ireland, it may become less profitable than it has been but it is still being profitable and, because of this, it runs the risk of affecting jobs in Ireland. That could happen. A company could be profitable but...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: To respond to Deputy Doherty's points, we aim to release data similar to those released every month in respect of the employment wage subsidy scheme in respect of the operation of TBESS. We will try to provide information to the Oireachtas and the public about how this scheme is operating, what it is costing and any information we are able to extract from the data that is of help in...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: Yes, but they are different. It is possible that in Deputy Matthews's scenario, Deputy Doherty is right. If the cost of Deputy Matthews's bill has gone up by a smaller amount than that of a peer company - the actual value of the bill has gone up by a smaller amount than that of the company beside him - as long as the unit cost has gone up by 50%, that is what will determine whether the...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: You are not if your unit price has gone up. They are different things for the purpose of the policy.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: We expect it will cost up to €1.2 billion.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: From information that was shared with us by the Department of the Environment, Climate and Communications. We have developed a number of scenarios on what the cost will be and our view is that the upper end of that cost is €1.2 billion. However, it is very difficult to be clear and certain on this. It is the best estimate available to us but it is a figure we will have to...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: We do not have the unit price information with us but I will get it and share it with the Deputy. The key feature in this scheme versus the cap argument we had earlier is the presence of a cap; that is the key design feature. The reason I can say we are making efforts to contain the cost is that we have a cap per individual premises on this. That is the key difference between this scheme...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: Where is the Deputy getting the €4 billion figure from?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: The cap is €10,000.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: It will run for six months.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: That depends on what their energy usage will be.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: But we do not expect-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: We do not expect that the average energy use or average access to the scheme will be near the cap.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: Our estimate is based on the modelling we have done with the Department of the Environment, Climate and Communications and the information it has supplied to us regarding average energy usage. That has given us guidance that gets us to the €1.2 billion figure.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: If unit costs go through the roof, the Deputy's plan means the State would be liable for all the ballooning costs beyond his cap. In this scheme, however, it is capped at €10,000. That is the difference.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: There is a design difference. Let us say-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: Let me finish the point. The design difference is that in the Deputy's scheme, which is for households rather than businesses-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)
Paschal Donohoe: -----in a scenario whereby costs balloon, the exposure to the State is open-ended. In this scenario, if we are in an environment where costs increase by far higher than we expect, at least this scheme is capped at €10,000 or €30,000 per participant. That is the difference.