Results 8,681-8,700 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Apr 2021)

Paschal Donohoe: The purpose of the Stay and Spend Tax Credit scheme was to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions on public health grounds. The scheme was developed at a time when there appeared to be a steady downward trend in infection rates and there was an expectation that the re-opening of the...

Written Answers — Department of Finance: Credit Unions (21 Apr 2021)

Paschal Donohoe: The Government welcomes the important work credit unions are doing to support communities throughout Ireland at this difficult time and recognises the key role that credit unions play in the delivery of financial services in local communities across Ireland. The Minister of State in my Department, Sean Fleming TD, has credit unions as part of his remit. The Government regularly engages with...

Written Answers — Department of Finance: Credit Unions (21 Apr 2021)

Paschal Donohoe: In answering the Deputy's question, I am referring to the sector's involvement in social housing projects. Following a review of the investment framework for credit unions in 2017, the Central Bank introduced amending investment and liquidity regulations for credit unions. Since 1 March 2018, credit unions have been permitted to invest in regulated investment vehicles where the...

Written Answers — Department of Finance: Tax Reliefs (21 Apr 2021)

Paschal Donohoe: Where e-workers incur certain extra expenditure in the performance of their duties of employment remotely or from home, such as additional heating and electricity costs, there is a Revenue administrative practice in place that allows an employer to make payments up to €3.20 per day to such employees, subject to certain conditions, without deducting PAYE, PRSI, or USC. Revenue have...

Written Answers — Department of Finance: Banking Sector (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 472 and 480 together. As the Deputy is aware, the Programme for Government includes a commitment to introduce a Senior Executive Accountability Regime (SEAR). SEAR will drive positive changes in terms of culture, greater delegation of responsibilities, and enhanced accountability while simplifying the taking of sanctions against individuals who fail in...

Written Answers — Department of Finance: Mortgage Lending (21 Apr 2021)

Paschal Donohoe: When a person applies for a mortgage loan to buy a home, the person will generally be required to take out mortgage protection insurance. In most cases, a lender is legally required under section 126 of the Consumer Credit Act 1995 to make sure that a mortgage applicant has mortgage protection insurance in place before granting a mortgage loan. This is an important statutory provision which...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 474, 493 and 513 together. 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. Details of the CRSS are set out in Finance Act 2020 and detailed operational guidelines, which are based...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Apr 2021)

Paschal Donohoe: The Temporary Wage Subsidy (TWSS) was in place between 26 March and 31 August 2020 and was introduced as an emergency income support for employees of vulnerable firms whose businesses had been negatively impacted by COVID restrictions and whose turnover had reduced by at least 25% during Q2 while the strictest public health measures were in place. The support was paid via the employer so as...

Written Answers — Department of Finance: Value Added Tax (21 Apr 2021)

Paschal Donohoe: Future tax changes are generally taken in the context of the Budget. Deputies will be aware that my officials prepare a series of papers containing tax options for the Tax Strategy Group to be considered in the context of the budgetary process, alongside a wide range of submissions from various stakeholders and lobby groups. Revenue provides a “Ready Reckoner” to facilitate the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Apr 2021)

Paschal Donohoe: A number of supports are available to businesses and individuals whose income continue to be impacted by the restrictions that are in place to deal with the public health emergency brought on by Covid-19. Employment Wage Subsidy Scheme The Employment Wage Subsidy Scheme (EWSS) was legislated for under the Financial Provisions (Covid-19) (No. 2) Act 2020 and provides a flat-rate subsidy to...

Written Answers — Department of Finance: Sovereign Debt (21 Apr 2021)

Paschal Donohoe: I welcome the analysis conducted by the Parliamentary Budget Office (PBO) on public debt sustainability. This work provides a strong commentary on the impact of the Covid-19 pandemic on debt levels and the potential implications for the medium and long-term sustainability of the public finances in Ireland. The analysis reinforces aspects of my own Department’s Annual Report on...

Written Answers — Department of Finance: Central Bank of Ireland (21 Apr 2021)

Paschal Donohoe: Under section 33AO the Central Bank Act, 1942 (as amended) provides for the holding of an inquiry into a contravention of financial services legislation by a Regulated Financial Services Provider (RFSP). The participation link in this provision requires the Central Bank to first prove a contravention of financial services legislation against the RFSP before it can take an action against an...

Written Answers — Department of Finance: Central Bank of Ireland (21 Apr 2021)

Paschal Donohoe: I am advised by the Central Bank that while decisions relating to the business model of regulated firms are commercial matters for the boards of those firms, the Central Bank expects them to take a consumer-focused approach in respect of any decision that affects their customers. The Central Bank expects that any decision by a board to close bank branches should be supported by an analysis...

Written Answers — Department of Finance: Financial Irregularities (21 Apr 2021)

Paschal Donohoe: I have noted the issues raised in the February 2021 FACTI Panel Report. Illicit financial flows drain resources from sustainable development, exacerbate inequalities, weaken governance and damage public trust. The FACTI Panel has made recommendations for tackling illicit financial flows. As a long-standing member of the international Financial Actions Task Force (FATF) and an EU Member...

Written Answers — Department of Finance: Credit Unions (21 Apr 2021)

Paschal Donohoe: The Central Bank have informed me that they cannot comment on the position regarding individual credit unions. However, the Central Bank have informed me that in relation to distributions to members, which can take the form of payment of dividends and/or loan interest rebates, credit unions must comply with specific requirements set out in the Credit Union Act, 1997 (the 1997 Act)....

Written Answers — Department of Finance: Probate Applications (21 Apr 2021)

Paschal Donohoe: The electronic filing of probate applications has been introduced as part of the modernisation of the probate application process. The Statement of Affairs (Probate) Form SA. 2 must be completed as the first step in applying to the Probate Office of the High Court for a Grant of Representation and can be submitted through Revenue myAccount or Revenue Online Service ROS. I am informed by...

Written Answers — Department of Finance: Cabinet Committees (21 Apr 2021)

Paschal Donohoe: The Government has prioritised the reform of the insurance sector in order to improve the cost and availability of this key financial service, including for businesses. The Action Plan for Insurance Reform sets out 66 actions in this regard across several policy areas, including my Department, with 95% due to be completed by the end of 2021. The Sub-Group of the Cabinet Committee on...

Written Answers — Department of Finance: Banking Sector (21 Apr 2021)

Paschal Donohoe: Since the introduction of the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015, credit servicing firms have been subject to the provisions of Irish financial services law that apply to regulated financial services providers, including but not limited to: - The Consumer Protection Code, - the Code of Conduct for Mortgage Arrears, - the Central Bank (Supervision...

Written Answers — Department of Finance: Legislative Measures (21 Apr 2021)

Paschal Donohoe: The function of Financial Services and Pensions Ombudsman (FSPO) is to investigate complaints made against financial service providers and pension providers in an appropriate manner, proportionate to the nature of the complaint, by informal means, mediation or formal investigation including Oral Hearings if required. To be eligible to make a complaint to the FSPO, the person making the...

Written Answers — Department of Finance: Tax Reliefs (21 Apr 2021)

Paschal Donohoe: The annual cost of tax relief on approved training courses or third level education fees for each of the years 2004 to 2018 (the latest available year) are set out in Revenue’s Cost of Tax Expenditures Publication, which is available on the Revenue website. This data is summarised as follows. I am advised by Revenue that data in relation to private colleges are not separately available...