Results 8,881-8,900 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Fiscal Policy (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 98 and 143 together. The unprecedented large-scale State intervention has seen a significant increase in public indebtedness. In Ireland, the debt-to-GNI* ratio rose to around 108 per cent last year. Given the supports required so far this year, this ratio will increase even further. Crucially however, the low interest environment that we find ourselves in...

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

Paschal Donohoe: I propose to take Questions Nos. 99 and 127 together. 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,...

Written Answers — Department of Finance: Economic Policy (31 Mar 2021)

Paschal Donohoe: As the Deputy may be aware, the Dublin Belfast Economic Corridor initiative is a collaborative project led by a network involving eight local authorities, North and South of the border, Dublin City University and Ulster University. Both universities recently published a report regarding the potential for an economic corridor between Dublin and Belfast. While not directly engaged in the...

Written Answers — Department of Finance: Fiscal Policy (31 Mar 2021)

Paschal Donohoe: As the Deputy will be aware, the pandemic and the necessary public health measures introduced to control the spread of the virus have had a huge impact on our economy and our society. In response the Government has acted decisively and on an unprecedented scale to support households, businesses and our health sector. Almost €38 billion in fiscal support has been provided representing...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 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. Details of 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...

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

Paschal Donohoe: I propose to take Questions Nos. 106 and 371 together. The Deputies will be aware that the Programme for Government includes acommitment to work to remove dual pricing, a form of differential pricing, from the market. In this regard, the Action Plan for Insurance Reform also commits to examine the forthcoming Central Bank Review of Differential Pricing in the Motor and Home Insurance...

Written Answers — Department of Finance: Economic Policy (31 Mar 2021)

Paschal Donohoe: The level of budgetary support that have been put in place by this Government to deal with the economic and social impact of Covid-19 has been extraordinary. With a total value of almost €38 billion, or nearly a fifth of national income (or GNI*), the Government has made use of all three avenues available: direct public expenditure, the taxation system and ‘below the...

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

Paschal Donohoe: I would ask the Deputy to note that the Central Credit Register (CCR) does not produce credit scores; rather the information on a credit report provided by the CCR is factual in nature and the information is provided to the CCR by lenders. It contains no guidance, recommendation or prohibition for lenders on what decision they should make on an application for credit or repayment...

Written Answers — Department of Finance: Gender Equality (31 Mar 2021)

Paschal Donohoe: Given the importance of diversity and inclusion to the culture and resilience of financial services firms, the Government continues to support the industry-led initiative ‘Women in Finance Charter’ to place the spotlight on the need to improve diversity in the financial services sector. In particular, under the Ireland for Finance StrategyAction Plan for 2021 which the...

Written Answers — Department of Finance: Social and Affordable Housing (31 Mar 2021)

Paschal Donohoe: As the Deputy is aware the development of the Affordable Purchase Shared Equity Scheme is a policy initiative which falls under the remit of the Department of Housing, Local Government and Heritage following the allocation of funding as part of Budget 2021. A range of commercial and operational matters pertaining to the scheme are currently being examined by the Department of Housing but have...

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

Paschal Donohoe: As I have previously made clear, I believe that the behaviour revealed by the Central Bank of Ireland in relation to the company in question falls gravely short of the standards expected of leaders in positions of financial responsibility. The Central Bank has already robust enforcement powers which can be applied both to firms and individuals, and these have been enhanced by numerous...

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

Paschal Donohoe: I propose to take Questions Nos. 114, 122, 359, 360, 363 and 366 together. The withdrawal of Ulster Bank from the market and the decision by Bank of Ireland to close 88 branches in the Republic of Ireland are regrettable, particularly for their customers and staff and they represent unfavourable developments for the Irish banking market. Decisions in this regard, including the management of...

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

Paschal Donohoe: The Deputy will understand, I am sure, that it would not be appropriate for me to comment on the internal affairs of a private company in which I have no role. The board of the company in question has announced its decision to pursue a sale of the Group, and I have previously indicated my support for that decision. It is important to have a stable, well-managed, local stockbroking...

Written Answers — Department of Finance: Mortgage Lending (31 Mar 2021)

Paschal Donohoe: The Deputy will know that, in the immediate aftermath of the onset of the COVID-19 pandemic last year, there was a significant decline in the level of mortgage approvals. However, this was reversed in the latter part of last year with BPFI data indicating that the number and value of mortgage approvals for each month since September at their the highest level compared to the same month in...

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

Paschal Donohoe: I am advised by Revenue that the rate of VAT applicable to supplies of goods and services is subject to EU VAT law, with which Irish VAT law must comply. The milk recording service is an agricultural service and the amounts payable by farmers for this service are chargeable to VAT, in the State, at the reduced rate of VAT, currently 13.5%. EU Member States are entitled to apply the reduced...

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

Paschal Donohoe: I recall that the Deputy and I discussed this issue during at the Committee and Report Stages of Finance Bill 2020, where I explained that aggressive tax planning by multinational companies is a global problem that requires countries to work together to find an effective global solution. Ireland is actively participating in the on-going discussions at the OECD to reform the international...

Written Answers — Department of Finance: European Central Bank (31 Mar 2021)

Paschal Donohoe: As the Deputy is aware, the Eurosystem (that is, the national central banks of the euro area plus the ECB) conducts purchases of public sector securities under the public sector purchase programme (PSPP) and as part of the pandemic emergency purchase programme (PEPP). The PSPP forms part of the ECB’s Asset Purchase Programme (APP), which is part of a package of non-standard...

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

Paschal Donohoe: I propose to take Questions Nos. 121 and 130 together. NatWest's decision to withdraw Ulster Bank from the Irish market and the decision by Bank of Ireland to close 88 branches in the Republic of Ireland are regrettable and they represent unfavourable developments for the Irish banking market. NatWest is in early stage discussions with PTSB and other strategic banking counterparties about...

Written Answers — Department of Finance: Customs and Excise (31 Mar 2021)

Paschal Donohoe: Following the withdrawal of the UK from the European Union, an import of a vehicle from Great Britain is treated as an import from a third country, i.e. a non-EU country. If a vehicle is imported from Great Britain into Ireland, the importer is required to complete a customs declaration and pay customs duty, if applicable, and VAT at 23% prior to presenting the vehicle for registration. Under...

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

Paschal Donohoe: I propose to take Questions Nos. 124 and 138 together. The Programme for Government prioritises the reform of the insurance sector with particular emphasis on motor, public, and employer liability insurance. As such, the Action Plan for Insurance Reform sets out 66 actions across several Government policy areas, including in my Department, to improve the availability of insurance and tackle...