Results 8,901-8,920 of 32,527 for speaker:Paschal Donohoe

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

Paschal Donohoe: As the Deputy may be aware, as Minister for Finance, I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard, including the management of branch or ATM networks, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis....

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

Paschal Donohoe: A key focus of the Government and the Central Bank is to ensure lenders are acting in a way that protects the best interests of borrowers, and in line with relevant codes and regulations. In particular, in respect of mortgages which are secured on a primary residence, regulated entities are required to comply with the Code of Conduct on Mortgage Arrears and deal with all arrears (and...

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

Paschal Donohoe: The Central Bank have informed me that credit unions may participate in Death Benefit Insurance schemes whereby a payment, intended to assist with funeral expenses, is made following the death of a member. Central Bank credit union regulations do not place any specific requirements on credit unions that participate in Death Benefit Insurance schemes. The Death Benefit Insurance is provided by...

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

Paschal Donohoe: I am advised by Revenue that there are a number of tax reliefs available to individuals who are carers. Details of the main reliefs, including the related tax credits, are as follows: The Home Carer Tax credit is available to married couples or civil partners that are jointly assessed, where one spouse or civil partner stays at home to take care of a dependent person.Its current value is...

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

Paschal Donohoe: In January, the Government approved the latest Action Plan 2021 ‘Building on Resilience’ under the Ireland for Financestrategy. Minister of State, Sean Fleming TD, has devoted much of his time to overseeing of the Ireland for Financestrategy (which is one of the areas that he has a special responsibility) and its implementation via annual action plans. In this context, it is...

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

Paschal Donohoe: I wish to advise the Deputy that: - The COVID-19 Credit Guarantee Scheme (CGS) was launched last September and is the biggest ever state-backed loan guarantee in Ireland. Its focus is to provide additional liquidity to businesses in a range of sectors. This has resulted in an increased diversification in loan products available to businesses and greater geographical reach for the...

Written Answers — Department of Finance: Primary Medical Certificates (31 Mar 2021)

Paschal Donohoe: I brought forward an amendment to the Finance Bill to provide for the existing medical criteria for the Disabled Drivers Scheme in primary legislation. Following approval of the Finance Act 2020, the HSE has been informed that medical assessments can recommence from 1st January 2021. However, in the context of the national effort to suppress and manage the impact of COVID, the ability to...

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

Paschal Donohoe: As the Deputy is aware, the State has shareholdings in certain banks, however, the framework agreements in place in respect of those institutions prohibit the State from being involved in day-to-day operational matters including the provision of services. As the Deputy may be aware, my Department published a paper in December 2019 by Indecon Consulting on an Evaluation of the Concept of...

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

Paschal Donohoe: As the Deputy may be aware, the European Commission published a proposal in January 2018 in relation to VAT rates. The proposal as published provides significantly greater flexibility to all Member States to apply reduced rates. The current system (in Annex 3 of the Directive) operates a set list of goods and services to which a reduced rate may apply. The new proposal allows Member States to...

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

Paschal Donohoe: 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 underlying investments are investments in Tier 3 Approved Housing Bodies (AHBs) for the provision of social...

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

Paschal Donohoe: The application of interest rate charges is solely a commercial matter for the board and management of each bank. I have no role in the day to day operations of any bank operating within the State including banks in which the State has a shareholding. Decisions in relation to commercial matters are the sole responsibility of the board and management of the banks, which must be run on an...

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: 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. 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: Covid-19 Pandemic (31 Mar 2021)

Paschal Donohoe: Covid-19 and the associated public health restrictions have resulted in a significant shock to the Irish economy and our society more generally. The challenges have been unprecedented and Government has responded accordingly. Last year, the Government made provision for approximately €16.8 billion in direct expenditure interventions in response to the economic impacts of Covid-19...

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

Paschal Donohoe: In the 2019 Finance Act I extended the 0% BIK rate for electric vehicles to the end of 2022. From January 2023, an emissions-based BIK structure (also provided for in the 2019 Finance Act) takes effect. For the year of assessment 2023 and subsequent years, electric vehicles will fall into the lowest emissions category, and therefore the BIK tax rate will range from 9% to 22.5%, depending on...

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

Paschal Donohoe: I propose to take Questions Nos. 313 and 314 together. As the interplay between the Covid-19 and Brexit shocks has implications for the economic outlook, my Department, along with the ESRI, conducted an analysis of the sectoral overlap between the two shocks. The analysis found that the sectors most exposed to both the Covid-19 and ‘disorderly’ Brexit shocks appear to be...

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

Paschal Donohoe: The VRT NOx charge was introduced in the 2019 Finance Act and subsequently amended in the 2020 Finance Act. The current rates structure, including calculation examples, can be accessed on the Revenue website: www.revenue.ie/en/importing-vehicles-duty-free-allowances/gu ide-to-vrt/calculating-vrt/calculating-the-nox-charge.aspx. I introduced this measure in recognition of the harmful...

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

Paschal Donohoe: I propose to take Questions Nos. 317 to 320, inclusive, together. 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...

Written Answers — Department of Finance: EU Funding (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 321 and 330 together. The Recovery and Resilience Facility is a €672.5bn instrument, made up of €360bn loans and €312.5bn in grants and is the key element of the Next Generation EU / Recovery Plan Package of €750bn (€360bn in loans and €390bn in grants) agreed by the European Council in July 2020. 70% of the total...