Results 8,861-8,880 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Costs (31 Mar 2021)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial services regulation, including for the insurance sector. As such, my Department does not collect the information being sought. However, in order to help address the question, my officials examined Consumer Price Index (CPI) data for private motor insurance produced by the Central...

Written Answers — Department of Finance: Credit Unions (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 79 and 149 together. 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...

Written Answers — Department of Finance: Financial Services Regulation (31 Mar 2021)

Paschal Donohoe: I am aware of the matter that the Deputy has raised, and my officials will continue to monitor the situation. As the House knows, the Central Bank of Ireland is the independent regulator for financial services and as such it determines what measures or actions need to be taken in relation to any potential or actual wrongdoing by regulated financial service providers. I am informed by my...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the total cost of the Covid Restrictions Support Scheme (CRSS) as of 29 March is €409m. 21,600 businesses have registered 25,300 premises for CRSS with Revenue. To date 121,500 claims for payments of €413m have been received in respect of 24,000 premises, €409m of which has already been processed for payment. In terms of the Employment...

Written Answers — Department of Finance: Tax Code (31 Mar 2021)

Paschal Donohoe: In general, Capital Gains Tax (CGT) is charged on the value of the capital gain made on the disposal of an asset. The current rate of CGT stands at 33% cent for disposals made from 6 December 2012 with a limited number of exemptions and reliefs. While Ireland's headline rate of CGT appears high compared with our European counterparts, in order to carry out a fair comparison, account has...

Written Answers — Department of Finance: Financial Services Sector (31 Mar 2021)

Paschal Donohoe: From 1 January 2021, many aspects of our relationship with our nearest neighbour have changed fundamentally as we no longer share EU membership. While the Government remains committed to protecting and strengthening the Ireland-UK relationship following the end of the transition period, I can advise the Deputy that the net impact of Brexit on the policy areas within my remit is anticipated to...

Written Answers — Department of Finance: Defective Building Materials (31 Mar 2021)

Paschal Donohoe: I appreciate this is a very difficult issue for households which have been affected by defective concrete blocks and I know my colleague the Minister for Housing, Local Government and Heritage, who has responsibility for policy and administration of the State scheme to provide financial assistance to those private households impacted by defective blocks, has met and discussed the...

Written Answers — Department of Finance: Insurance Industry (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 85, 128, 136 and 361 together. The Deputies will be aware that in recent years segments of the Irish insurance market have experienced a decline in competition due to withdrawals by several insurers and curtailed risk appetite in some market segments. In this regard, the Programme for Government includes a commitment to create an officetasked with...

Written Answers — Department of Finance: Credit Register (31 Mar 2021)

Paschal Donohoe: The Central Credit Register (CCR) is established by the Central Bank under the Credit Reporting Act 2013. Under the Act lenders are obliged to report personal and credit information to the CCR for loans of €500 or more, and are obliged to seek a credit report in respect of loan applications for €2,000 or more. The Central Bank advises that the submission of information to...

Written Answers — Department of Finance: Covid-19 Pandemic (31 Mar 2021)

Paschal Donohoe: The impact of Covid-19 on the labour market has been unprecedented, but some sectors have been more severely affected than others. In particular, consumer-facing services sectors have been significantly impacted. Unfortunately, many of these sectors have a higher proportion of lower-paid employees, and those working on a part-time basis. This was reflected in the Exchequer figures for 2020,...

Written Answers — Department of Finance: Brexit Issues (31 Mar 2021)

Paschal Donohoe: The new Trade and Cooperation Agreement between the EU and UK is 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 relationship....

Written Answers — Department of Finance: Insurance Industry (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 89, 105, 108, 117, 131 and 350 together. Insurance reform is a priority for this Government, as is reflected in the whole-of-Government approach being adopted by Government's Action Plan for Insurance Reform. This Action Plan contains a range of deliverables across a number of Government policy areas, including the Department of Finance, which aim to improve...

Written Answers — Department of Finance: Credit Unions (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 90 and 101 together. 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...

Written Answers — Department of Finance: Covid-19 Pandemic (31 Mar 2021)

Paschal Donohoe: Since the COVID-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. In relation to the particular issue of new mortgage lending, the main retail banks previously confirmed that they are considering mortgage applications and mortgage drawdowns in relation...

Written Answers — Department of Finance: Financial Services Sector (31 Mar 2021)

Paschal Donohoe: I can confirm that I am aware of the recent UK report ‘Kalifa Review of UK Fintech’ and its recommendations published in February. ‘Fintech’ is an abbreviation of the words ‘financial technology’ and sometimes also known as ‘digital finance’ which means the delivery of financial services by innovative technology. I would like to take...

Written Answers — Department of Finance: Tax Yield (31 Mar 2021)

Paschal Donohoe: In general, Capital Gains Tax (CGT) is charged on the value of the capital gain made on the disposal of an asset. The current rate of CGT stands at 33% cent for disposals made from 6 December 2012 with a limited number of exemptions and reliefs. Outturns in respect of Capital Gains Tax (CGT) are published on my Department's website at: Capital gains receipts for the period 2015 to 2020 are...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 94, 102, 148 and 315 together. 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...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: Last year the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by their member banks and other lenders to help their customers who were economically impacted by the onset of the COVID-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially for a period up to three months and then...

Written Answers — Department of Finance: Tax Reliefs (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 96 and 380 together. The section 481 tax credit is intended to act as a stimulus to the creation of an indigenous film industry in the State, creating quality employment opportunities and supporting the expression of the Irish culture. Prior to 2015 the scheme was an investor-based relief which provided tax relief to individuals investing in the film...

Written Answers — Department of Finance: Illicit Trade (31 Mar 2021)

Paschal Donohoe: I am assured by Revenue that combating the threat which illegal cross–border trade of all kinds, including that in household fuel products, pose to legitimate businesses, consumers and the Exchequer continues to be a priority. Revenue and An Garda Síochána collaborate closely in acting against illegal cross-border trade, and also cooperate with their counterparts in Northern...