Results 4,681-4,700 of 33,118 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Fiscal Policy (10 Nov 2022)

Paschal Donohoe: Putin’s illegal and immoral invasion of Ukraine and the weaponisation of gas supplies has triggered an exceptionally large energy price shock which has reverberated throughout the globe. Consumer price (HICP) inflation has picked up sharply as a result and stood at 9.6 per cent in October. Almost every advanced country in the world is in the same position, with euro area inflation...

Written Answers — Department of Finance: Economic Policy (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 211 and 214 together. Ireland is currently facing many of the same economic headwinds as the wider European economy. The invasion of Ukraine and Russia’s weaponisation of gas supplies has triggered an exceptionally large energy price shock and undermined global economic prospects. Europe has been particularly exposed to the economic consequences of...

Written Answers — Department of Finance: Foreign Direct Investment (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 212 and 213 together. Ireland’s industrial policy has been highly successful in attracting foreign direct investment (FDI), contributing to sustained economic activity over the past number of decades. The strong regulatory and legal environment as well as stable and pro-enterprise policy, combined with a talented workforce, is reflected in the level...

Written Answers — Department of Finance: Budget 2023 (10 Nov 2022)

Paschal Donohoe: Following the full easing of pandemic-related restrictions earlier this year, economic activity rebounded strongly with little, if any, evidence of permanent ‘scarring’ to the economy. However, the invasion of Ukraine and Russia’s weaponisation of energy supply has triggered a large energy price shock and undermined global economic prospects. Inflationary pressures have...

Written Answers — Department of Finance: Economic Policy (10 Nov 2022)

Paschal Donohoe: The Irish economy began this year on a solid footing. As we emerged from pandemic-relating restrictions, economic activity rebounded strongly with little, if any, evidence of permanent ‘scarring’ to the economy. However, the global economic outlook quickly deteriorated as Putin’s war in Ukraine and weaponisation of energy supply sparked inflationary pressures. We...

Written Answers — Department of Finance: Economic Policy (10 Nov 2022)

Paschal Donohoe: The Consumer price (HICP) inflation picked up sharply over the course of the last year and in October stood at 9.6 per cent. Almost every advanced country in the world is in the same position, with euro area inflation reaching a record 10.7 per cent in October. The key driver of global inflationary pressures at present is the sharp rise in energy, food and other commodity prices as a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: I thank the Deputies for the points they have raised. I will deal with the general issues that have been raised overall, then I will come back to the specific matter that was raised by Deputy Boyd Barrett in his intervention, some of which I have already dealt with in the answer to a parliamentary question that I provided to the Deputy. In February 2021 the Minister for Housing, Local...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: I thank Deputies Nash and Boyd Barrett for bringing those matters forward. The State will have to respond to the issues that have been identified in the report, just as we have played a significant role in trying to help those families that have been afflicted by the awful consequences of mica being present in their homes. However, the Government has not yet decided how we will do that. At...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: In situations where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other. As the Deputy will be aware, the tax treatment of couples was...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: Of course. I imagine the roots of this lie in case decisions and jurisprudence in our State. If there are any comparisons outside our jurisdiction, we will include them in a note for the committee.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: I wish to clarify who is eligible for the payment to which the section of the Finance Bill refers. From the briefing I received from the Department of Children, Equality, Disability, Integration and Youth, I understand that individuals with a confirmed incorrect birth registration as of 30 September 2022 are eligible for this payment. In most cases Tusla has confirmed the incorrect...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: The Finance Bill deals with the taxation of these payments.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: The Minister for Children, Equality, Disability, Integration and Youth, yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: No. This just deals with the taxation status of the payments.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: Yes, it will. We are simply making clear that we are providing the legal framework that when the payments are made, they will be exempt from income tax, USC and PRSI. If the Minister for Children, Equality, Disability, Integration and Youth were to decide that another cohort deserved payments beyond 30 September 2022, those would also be tax free.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: In fairness, the Minister for Children, Equality, Disability, Integration and Youth is also making clear that the Minister has the ability to review the cut-off date. I do not have the detail with me today regarding the justification for that date, but it is clear that it can be reviewed. I offer full assurance to members of the committee regarding how this issue is being dealt with in the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: I move amendment No. 5: In page 11, line 6, after “section 19” to insert “or 32”. Section 4 provides for an exemption from income tax for the Covid-related layoff payment, which is a payment to employees who were made redundant and who lost the opportunity to accrue reckonable service due to layoffs caused by the public health restrictions during the period 13...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: I will deal with the Deputy's three questions. The statutory payment is tax-exempt. On the eligibility criteria, the payment will apply to workers who have been made redundant or who will be made redundant in the next three years and who lost the opportunity to accrue reckonable service due to layoffs caused by the Covid-19 restrictions from 13 March 2020 to 31 January 2022. The amount an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: It is €10 million.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Paschal Donohoe: No, €10 million was made available for the scheme and €901,846 has been released.