Results 8,361-8,380 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Budget 2021 (15 Jun 2021)

Paschal Donohoe: Budget 2021 contained two contingency funds totalling €5.4 billion. At the time the Budget was drafted, these funds were designed to be flexible in light of the considerable uncertainty around the evolution of both the Covid-19 pandemic and Brexit, allowing Government to react swiftly and decisively to a constantly evolving environment without impacting on the baseline budgetary...

Written Answers — Department of Finance: Brexit Issues (15 Jun 2021)

Paschal Donohoe: The Trade and Cooperation Agreement (TCA) between the EU and UK remains a positive conclusion to the transition period. However, the new agreement still represents a break from previously existing arrangements, and thus a permanent shock to the Irish economy. Therefore, Brexit will still have a negative economic impact on the Irish economy and living standards compared to the previous...

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: The Government and the Central Bank expects that lenders will continue to engage effectively and sympathetically with distressed borrowers to deliver appropriate and sustainable solutions and to treat borrowers at all times, including in response to COVID-19, in line with Central Bank’s robust consumer protection framework, specifically the Code of Conduct on Mortgage Arrears, the...

Written Answers — Department of Finance: Mortgage Interest Rates (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 407 and 408 together. There have been certain developments to promote the closer integration of banking and credit markets in the EU. For example, credit institutions authorised in one EU Member State can, with minimal additional requirements, provide banking services in other EU states. In addition, there have been developments, such as the Mortgage...

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: The Government recognises that SMEs are vital to the Irish economy. As Minister for Finance one of my key concerns is to ensure that SMEs have access to sufficient liquidity, and that access to credit for SMEs is maintained. The Government has announced a range of measures to assist companies deal with the consequences of the COVID-19 restrictions. These include tax measures, as well as loan...

Written Answers — Department of Finance: Brexit Issues (15 Jun 2021)

Paschal Donohoe: My Department has been participating in whole of Government preparations for Brexit since before the UK referendum in 2016 and, in line with the Government’s overall approach, this work intensified during 2020 ahead of the end of the transition period. The new Trade and Cooperation Agreement between the EU and UK is a positive conclusion to the transition period. However, the new...

Written Answers — Department of Finance: Small and Medium Enterprises (15 Jun 2021)

Paschal Donohoe: While the reintroduction of restrictions at the end of last year led to a further contraction of the domestic economy in the first quarter of 2021, the decline in activity was not as severe as that seen during the first lockdown last spring. Modified Domestic Demand, which provides the best measure of domestic economic activity, fell by 5 per cent on an annual basis in the first quarter of...

Written Answers — Department of Finance: Services Sector (15 Jun 2021)

Paschal Donohoe: The reintroduction of Covid-19 related restrictions at the end of last year had a significant impact on the domestic economy in the first quarter. While much of the manufacturing sector remained open throughout the quarter, many domestic services activities were largely closed. As a result, the impact of these restrictions across sectors has been uneven. Gross Value Added (GVA) in...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 56, 68 and 74 together. I have noted the communique from the G7 Finance Ministers which was published on 5th June 2021 and includes a reference to a minimum effective tax rate of 15% for multi-national enterprises. I attended the G7 meeting in London in the context of my role as President of the Eurogroup, and I do not speak on EU taxation matters in my...

Written Answers — Department of Finance: Financial Services (3 Jun 2021)

Paschal Donohoe: The regulation of commodity derivative markets, including commodity futures markets, predominantly falls under the EU Markets in Financial Instruments Directive (MiFID II). MiFID II was transposed into Irish law via Statutory Instrument 375 of 2017. MiFID II established a position limit and position management regime for all commodity derivative contracts traded on trading venues and...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (3 Jun 2021)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide enterprise support that provides a flat rate subsidy to qualifying employers based on the numbers of eligible employees on their payrolls. The EWSS replaced the Temporary Wage Subsidy Scheme which ceased on 31 August 2020. The EWSS has been a key component of the Government’s response to the continued Covid-19 crisis to...

Written Answers — Department of Finance: Tax Data (3 Jun 2021)

Paschal Donohoe: Residential properties built after the current valuation date (1 May 2013) remain outside the charge to Local Property Tax (LPT) until the next valuation date (1 November 2021). The owners of such properties are not required to submit LPT returns or valuations to Revenue, therefore the precise amount of revenue that would be raised is not available. However, it is estimated that there...

Written Answers — Department of Finance: Insurance Industry (3 Jun 2021)

Paschal Donohoe: I note that the details supplied by the Deputy refers to insurance for a specific organisation. While I recognise the concerns felt by many voluntary and community groups, including the one highlighted by the Deputy, around the cost and availability of insurance cover, he will appreciate that, as Minister for Finance, I am not in a position to comment on individual cases. Neither I, nor...

Saincheisteanna Tráthúla - Topical Issue Debate: Tax Code (2 Jun 2021)

Paschal Donohoe: I thank the Deputies for raising this matter. The programme for Government includes a commitment to bring forward legislation in relation to the local property tax on the basis of fairness and that most homeowners will not face an increase in their local property tax liability. In addition, there is a commitment to bring new homes, which are currently exempt from local property tax, into...

Saincheisteanna Tráthúla - Topical Issue Debate: Tax Code (2 Jun 2021)

Paschal Donohoe: Deputy Boyd Barrett responds to what I said. Deputy Paul Murphy comes in here and reads out a script that was written a decade ago. Look at what the Government announced yesterday - €4 billion worth of investment in the future - on top of last year's budget which led to record levels of investment in our future. Look at the employment wage subsidy scheme where the State is standing...

Written Answers — Department of Finance: Tax Code (2 Jun 2021)

Paschal Donohoe: I am advised by Revenue that there is no stamp duty payable on the inheritance of property. However, the transfer of a property that is residential property during their lifetime, including a holiday rental cottage, to a son or daughter constitutes a conveyance on sale for the purposes of the Stamp Duties Consolidation Act (SDCA) 1999. Stamp duty is payable by the transferee, whether or not...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (2 Jun 2021)

Paschal Donohoe: The 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. Details of the CRSS are set out in Finance Act 2020 and detailed operational guidelines, which are based on the terms and conditions of the scheme as set out in the legislation, have been published on...

Written Answers — Department of Finance: Banking Sector (2 Jun 2021)

Paschal Donohoe: The Deputy may be aware that, as Minister for Finance, I have no role in how any bank manages its dealings with its customers, including those in which the State has a shareholding. Such matters are the sole responsibility of the board and management of the banks which must be run on an independent and commercial basis. The independence of banks in which the State has a shareholding...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (2 Jun 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...

Written Answers — Department of Finance: Tax Data (2 Jun 2021)

Paschal Donohoe: Local Property Tax (LPT) provides for certain properties to be exempt from the tax during a ‘valuation period’. For the current ‘valuation period’ (2013 to 2021), these exemptions include properties purchased between 1 January 2013 and 31 December 2013 and trading stock of builders/developers unsold at 1 May 2013 or sold in the period 1 January 2013 to 31 October...