Results 601-620 of 33,883 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Credit Unions (15 Jul 2025)

Paschal Donohoe: I thank the Deputy for his question. In relation to reserves, the Credit Union Act sets out provisions in relation to credit union reserves and provides the Central Bank with regulation-making powers in relation to reserves. Credit unions are required to maintain a minimum regulatory reserve requirement of at least 10 per cent of the assets of the credit union under Section 45 of the...

Written Answers — Department of Finance: Insurance Industry (15 Jul 2025)

Paschal Donohoe: To directly respond: the Government is developing a new Action Plan for Insurance Reform, which will set out a comprehensive series of targeted measures to improve the affordability, availability, and transparency of insurance for consumers, businesses, and community groups. The new Plan will build on the progress achieved through the 2020 Action Plan, which delivered major reforms...

Written Answers — Department of Finance: Central Bank of Ireland (15 Jul 2025)

Paschal Donohoe: Governor Makhlouf issued his pre-Budget letter at the end of June. He highlights inter alia the risks to our economy associated with the deeply uncertain international environment given our exposure to the multinational sector. Government is very conscious of these issues. This Government’s perspective, and in line with the Governor’s letter, is that the policy response to...

Written Answers — Department of Finance: Fiscal Policy (15 Jul 2025)

Paschal Donohoe: As the Deputy will be aware, the Infrastructure, Climate and Nature Fund (ICNF) was established last year alongside the Future Ireland Fund (FIF). These two long-term savings funds aim to assist with addressing known future fiscal and economic challenges. The ICNF will, subject to the results of an annual economic and fiscal assessment, receive a transfer of €2 billion each year...

Written Answers — Department of Finance: Housing Schemes (15 Jul 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. The scheme provides a refund of Income Tax and Deposit Interest Retention Tax paid in Ireland over the previous four years, subject to certain limits and is legislated...

Written Answers — Department of Finance: Tax Code (15 Jul 2025)

Paschal Donohoe: Revised Entrepreneur Relief (RER) is provided for by section 597AA of the Taxes Consolidation Act 1997. RER provides that a reduced 10% rate of Capital Gains Tax (CGT) applies in respect of a chargeable gain or chargeable gains on a disposal or disposals of qualifying business assets by an individual up to a lifetime limit of €1 million. Any chargeable gain in excess of the €1...

Written Answers — Department of Finance: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: At year-end 2024, ISIF held both directly and indirectly €7.76 million in six companies listed on the UN Database – 0.16% of the Global Portfolio. Direct investments by the Ireland Strategic Investment Fund in companies on the UN database were approximately €5.6 million in 4 companies and its indirect investments were €2.16 million and included 5 companies. I...

Written Answers — Department of Finance: Tax Yield (15 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 117 and 129 together. Total tax revenues for the first six months of year amounted to €49.5 billion. This was an increase of €4.7 billion. A little over a third of this increase is due to once-off tax revenue arising from the Court of Justice of the European Union ruling of September 10th, 2024. When these once-off revenues are excluded tax...

Written Answers — Department of Finance: Legislative Measures (15 Jul 2025)

Paschal Donohoe: I would like to thank the Deputy for their question. The Government is firmly committed to advancing this important legislative reform and it is a key commitment in the Programme for Government – Securing Ireland’s Future. I am pleased to confirm that Cabinet has agreed to bring the Central Bank (Amendment) Bill 2025 forward before the summer recess. The Bill will give legal...

Written Answers — Department of Finance: Middle East (15 Jul 2025)

Paschal Donohoe: The Ireland Strategic Investment Fund (ISIF) is a €16.6 billion fund comprising the discretionary portfolio of €8.9 billion and the directed portfolio of €7.7 billion based on the 2024 Annual Report. It has a double bottom line mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. ISIF has complete...

Written Answers — Department of Finance: Regulatory Bodies (15 Jul 2025)

Paschal Donohoe: The Financial Services and Pensions Ombudsman (FSPO) provides an independent, fair, impartial, confidential, and free service to consumers and small businesses to resolve complaints against financial service providers and pension service providers. Complaints are resolved through either informal mediation, leading to a potential settlement agreed between the parties, or formal...

Written Answers — Department of Finance: Public Sector Staff (15 Jul 2025)

Paschal Donohoe: In recent Budgets, decisions regarding the personal income tax package have been made with a view to spreading the benefit as effectively as possible and across as many taxpayers as possible. The personal income tax measures introduced have benefitted all income earners who pay income tax and USC, including those essential public sector workers. For example, to ease the burden facing...

Written Answers — Department of Finance: Tax Yield (15 Jul 2025)

Paschal Donohoe: The Exchequer returns for the first half of the year were published at the beginning of this month. Total tax revenues in the year to date amounted to €49.5 billion, an increase of €4.7 billion or 10½ per cent on the same period last year. About a third of the increase is due to the tax component of the Court of Justice of the European Union (CJEU) ruling of September...

Written Answers — Department of Finance: Budget 2026 (15 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 123 and 146 together. The issues in the Irish housing market are caused by a shortfall in supply due to demographic and economic growth outstripping the growth in new homes for more than a decade. An increase in the supply of new housing remains a priority aim of Government policy. A range of tax-based measures are in place to support or encourage...

Written Answers — Department of Finance: Summer Economic Statement (15 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 124 and 163 together. It is the intention of the Government to publish the Summer Economic Statement (SES) on 22 July 2025. The SES will incorporate all available information and data including the latest developments in the trade policy landscape. That said, it is clear that we are now in a fast-evolving and more challenging global environment, with...

Written Answers — Department of Finance: Tax Collection (15 Jul 2025)

Paschal Donohoe: Revaluation for the Local Property Tax will take place on 1 November this year. Property owners will be required to self-assess the value of their property on this date and file a return with the Revenue Commissioners. Revenue will be in touch with approximately 1.4 million taxpayers in advance of November to advise them of their obligations. The Finance (Local Property Tax and Other...

Written Answers — Department of Finance: Interest Rates (15 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 126 and 137 together. The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB). Since mid-2024, the ECB has reduced its main lending rate from 4.5% to 2.15%. While changes by the ECB generally have a direct impact on tracker mortgage rates, reductions by the ECB are only one factor that feeds...

Written Answers — Department of Finance: Enterprise Policy (15 Jul 2025)

Paschal Donohoe: The Programme for Government sets out a range of commitments to pro-enterprise tax policies, with a view to supporting long term investment and the creation of high-quality jobs in the Irish economy. These include the promotion of innovation, economic growth and entrepreneurship, and maintaining competitiveness by way of simplification of the tax system. All taxes, including business...

Written Answers — Department of Finance: Capital Expenditure Programme (15 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 128 and 149 together. Like several other EU countries, Ireland has a high savings deposit rate and there is broad agreement that some of these savings could provide greater returns for individual citizens and the wider economy if they were invested as opposed to being on deposit. ` This is the central thrust of the EU Savings and Investments Union (SIU)...

Written Answers — Department of Finance: Tax Code (15 Jul 2025)

Paschal Donohoe: Revaluation for the Local Property Tax will take place on 1 November this year. Property owners will be required to self-assess the value of their property on this date and file a return with the Revenue Commissioners. Revenue will be in touch with approximately 1.4 million taxpayers in advance of November to advise them of their obligations. The Finance (Local Property Tax and Other...