Results 6,441-6,460 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Vacant Properties (16 Dec 2021)

Paschal Donohoe: In 2018 I commissioned  Indecon consultants to examine the potential of a vacant residential property tax to meet the objective of increasing the supply of homes. The resulting report presented a detailed evidence-based assessment of vacancy rates in areas in which the demand for housing is most acute. The Indecon report is entitled “Report on the Taxation of Vacant...

Written Answers — Department of Finance: Vacant Properties (16 Dec 2021)

Paschal Donohoe: The Government’s strategy ‘Housing For All’ includes an action for my Department to collect data on vacancy with a view to introducing a Vacant Property Tax. The timeframe for delivery on this commitment is the second quarter of 2022.  The Finance (Local Property Tax) (Amendment) Act 2021 has accordingly enabled Revenue to collect certain information on vacant...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 260 and 262 together. Including funds allocated in Budget 2022, the total amount made available to mitigate the impact of the Covid-19 pandemic stands at approximately €48 billion, composed of a combination of direct public expenditure, taxation measures and ‘below the line’ supports. Of this, €6.8 billion has been made...

Written Answers — Department of Finance: Economic Growth (16 Dec 2021)

Paschal Donohoe: Due to the success of our vaccination programme restrictions were eased gradually since the second quarter of this year, with the domestic economy recovering strongly as a result. Modified Domestic Demand (MDD) – the best measure of domestic economic activity now exceeds the level immediately preceding the pandemic (2019-Q4) by around 3 per cent. Improvements can also be seen in the...

Written Answers — Department of Finance: Brexit Issues (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 263 and 266 together. The latest figures from the CSO confirm the continued recovery of the domestic economy in the third quarter, as the success of the vaccination programme allowed for the easing of restrictions. Ireland’s external trade has supported the economy throughout the pandemic. The global economy experienced the shock of the Covid-19...

Written Answers — Department of Finance: Brexit Issues (16 Dec 2021)

Paschal Donohoe: My colleagues across the European Union and I remain alert to the challenges and the potential economic impacts arising from Brexit. As one of the most affected Member States by Brexit, I pay particular attention to the effective implementation of the EU-UK Trade and Cooperation Agreement (TCA) and to the Withdrawal Agreement, which includes the Protocol on Ireland and Northern...

Written Answers — Department of Finance: Inflation Rate (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 265 and 271 together. At both the ECOFIN and Eurogroup meetings, my fellow Ministers and I work alongside the European Commission and the European Central Bank to take stock of the latest economic situation, including inflation developments throughout the EU. The economic recovery throughout this year has been robust, with recent indicators pointing to...

Written Answers — Department of Finance: Economic Policy (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 267 and 268 together. I take it that your questions relate to Ireland joining the 8 October OECD/G20 Inclusive Framework agreement to address tax challenges arising from the digitalisation of the economy. There are two pillars to the OECD agreement. Pillar One will see a reallocation of a proportion of profits to the jurisdiction of the consumer. This...

Written Answers — Department of Finance: Foreign Direct Investment (16 Dec 2021)

Paschal Donohoe: Since the onset of the Covid-19 crisis, businesses have been faced with unprecedented challenges and uncertainty. The latest data from the CSO confirms that following a steep decline at the start of 2021, the domestic economy has subsequently made a rapid recovery. Against the backdrop of the pandemic, inward FDI flows to Ireland still amounted to around one-fifth of GDP in 2020 according...

Written Answers — Department of Finance: Eurozone Issues (16 Dec 2021)

Paschal Donohoe: At both the ECOFIN and Eurogroup meetings, my fellow Ministers and I work alongside the European Commission and the European Central Bank to take stock of the latest economic situation, including the challenges facing the European economy. The recovery throughout this year has been robust, with the European economy essentially having regained its pre-pandemic level of output in the third...

Written Answers — Department of Finance: Insurance Industry (16 Dec 2021)

Paschal Donohoe: The Irish insurance sector is diverse, comprising life, non-life and reinsurance firms providing a range of products and operating across a number of geographic markets.  As Minister for Finance, I am responsible for the development of the legal framework governing regulation of this sector.  This framework is mainly governed by the EU Solvency II Directive, which provides for three...

Written Answers — Department of Finance: Mortgage Interest Rates (16 Dec 2021)

Paschal Donohoe: I am aware that the general level of new lending interest rates in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that certain mortgage rates have been falling in Ireland.  For example, the interest rates on new mortgages (excluding renegotiations) have fallen from 4.05% in December 2014 to 2.73% in October...

Written Answers — Department of Finance: Small and Medium Enterprises (16 Dec 2021)

Paschal Donohoe: As Minister for Finance, one of my main concerns is to ensure that SMEs have access to sufficient liquidity, and that access to credit for SMEs is maintained. My Department commissions a survey biannually to monitor SME credit levels which are published on www.Gov.ie. Furthermore, since the onset of COVID-19 restrictions the Government has introduced a range of measures to assist companies...

Written Answers — Department of Finance: Consumer Prices (16 Dec 2021)

Paschal Donohoe: Developments in domestic economic conditions over the pandemic period closely tracked the introduction and relaxation of public health restrictions and are clearly seen in the volatile pattern of consumer spending.  While the relationship between consumer spending and the stringency of restrictions has weakened over time, the two variables remain strongly correlated, with the...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: As the outset the Deputy should note that as per my previous replies, I have no plans to make any changes to the CGT rate in the way suggested by him.. However, he should be aware that all taxes are subject to ongoing review which includes the consideration and assessment of rates along with any associated reliefs and exemptions. Tax policy in relation to CGT is reviewed by the Tax...

Finance Bill 2021: From the Seanad (15 Dec 2021)

Paschal Donohoe: I welcome the support from all who have spoken for the recommendations that have been made to the Dáil this evening. I also welcome colleagues' general support for the EWSS and the very positive role it has played in the preservation of employers and the maintenance of work during such a difficult period of the pandemic in our country. I will say a few words about the various issues...

Finance Bill 2021: From the Seanad (15 Dec 2021)

Paschal Donohoe: The wage subsidy schemes, namely, the employment wage subsidy scheme, EWSS, and its predecessor, the temporary wage subsidy scheme, TWSS, have been a substantial and key part of the Government response to the pandemic. The EWSS has played a central role in supporting businesses, encouraging employment and helping to maintain the link between employers and employees. Since the introduction...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 53, 55 and 58 together. Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the Employment Wage Subsidy Scheme (EWSS) which is an economy-wide enterprise support for eligible businesses. EWSS provides a subsidy to qualifying employers, based on the number of qualifying employees on the payroll. As an...

Written Answers — Department of Finance: Tax Exemptions (15 Dec 2021)

Paschal Donohoe: The position remains as outlined on 20 September 2021 to Deputy Cormac Devlin. Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying health expenses. Section 469 defines "health expenses" as "expenses in respect of the provision of health care including the services of a practitioner". A practitioner is defined in the section as "any person...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Dec 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable...