Results 7,561-7,580 of 33,175 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: It is worth emphasising again that the money that will be brought in next year by the bank levy is not money that was included in our budgetary forecast for next year. It is not a reduction in forecast revenue. We were not expecting to collect it because the tax was due to come to an end this year before I made the decision to extend it. I am doing this to minimise the considerable...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Let me finish. It is up to the Acting Chairman then as to whether he wants to accept the Deputy's question. On charging and funding options above and beyond what we are discussing in the Finance Bill, I am considering different ways of delivering the money we will need to meet the needs of those who have been afflicted by the awful experience of mica. I cannot at this point confirm what...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Let me develop my argument further. Given the very different views the Deputies and I have on the economy and our banking system, if I were successful in convincing them that I was doing the right thing with a significant policy decision, I would need to assess the policy and decide whether the decision was right. The starting points the two Deputies across the table have and mine on the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I was about to say that. I am sure if I were to come out and applaud a policy the Deputies put forward, they would think twice before it went to print.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I take that point. I will begin by responding to Deputy Barry. He talked about betrayal. He thought it was a scandal on the way out. However, he was not happy when these banks were here. He cannot have it both ways. I do not recall ever hearing him utter a word recognising the role of these banks as employers, investors or lenders. Now that they are out the door, to use his language,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: -----in employing people, investing and lending? He cannot have it both ways. He cannot bemoan the destructive effect of banks exiting while at the same time he either did not have anything good to say about them when they were here or, as he has just said, formed the view that they should be nationalised-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: -----in which case, the taxpayer would be back to square one, carrying all the risk of our banking system. I thought we had put that behind us. I thought that debate had been won. Both Deputies asked me about the decision on the banking levy and Ulster Bank and KBC. I wish to emphasise my thinking behind it. The levy is calculated and comes due to be paid in October of next year. At...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 107: In page 130, between lines 16 and 17, to insert the following: “(g) in section 128A— (i) in subsection (1), by the insertion of the following definitions: “ ‘relevant person’ means— (a) an accountable person, or (b) a person that is required to deliver a statement to the Commissioners under Part 9;...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 108: In page 130, to delete lines 17 to 23 and substitute the following: “(g) in section 128B(1)— (i) by the substitution of the following definition for the definition of “relevant person”: “ ‘relevant person’ means— (a) an accountable person, or (b) a person that is required to deliver a statement...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Amendments Nos. 109, 110 and 111 are grouped together and I will speak to each of them in turn. Turning first to amendment No. 109, as the Deputy is aware, earlier this year I introduced a special 10% rate of stamp duty to apply to the purchase of ten of more houses in any 12-month period by any person or corporate entity. This rate came into effect from 20 May 2021. The new rate does...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I will deal with each of the questions in turn. To begin in the order in which Deputy Doherty addressed the issues he raised, I refer to the issue of commercial stamp duty, the latitude for it to be increased further and the role it might play in not only raising revenue but also, more importantly, shifting capital into the delivery of more homes. That is one of the reasons I have over...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Absolutely, but at what time are we breaking?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Are we voting on this group of amendments after I finish?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I suspect we are going to hear the term "non-Exchequer" a great deal more from Sinn Féin in future because the claims it makes cannot be backed up by its figures. It claims that it can build homes at a fraction of the actual cost and-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: -----it continues to make the charge-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: The louder the voice, the weaker the argument. The more the heckling, the shakier the ground. This is the ground that Sinn Féin is on. I will now move on to my record and my future but, more important, the future of what we need to do in respect of housing. Sinn Féin is telling the Irish public to trust it and it can build a home for €150,000, but what is the answer to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: These are the figures.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Twenty thousand social homes at a cost of €3 billion. The maths of that is €150,000 per home. The latest incarnation and flowering of the magic money tree from Sinn Féin is the phrase "non-Exchequer". These are the figures in Sinn Féin's calculation.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: As to whether we want to and are going to build more social homes and see the State play a role in that, the answer is an unqualified "Yes". This is not just a promise for the future. Rather, it is the reality of what is happening now. It is the reality of this Government, despite our construction sector being closed for so long due to a pandemic, now having 8,750 social and public homes...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Excuse me, I want to come back in again. Jibes have been made against me. If are going to suspend Standing Orders, I am going to be treated fairly, as it happens. The Department of Housing-----