Results 9,421-9,440 of 32,547 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I will begin by offering some thoughts on the debt issues raised by Deputy Boyd Barrett. Most of the figures he referenced in regard to the debt forecast are correct. By the end of last year, our debt stood at €219 billion, which is an increase of approximately €15 billion versus what we estimated it would be. Taking the two year period of last year and this year together,...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: We have not considered CETA as a cause of risk in our forecasting for tax revenue. We have outlined many other issues that could impact on corporate tax revenue and on the performance of different tax heads but we do not assign a risk to the future of CETA in terms of the impact that it could have on our tax flows. It is not recorded as a risk in our tax revenue forecasting models.

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: The Tánaiste announced today a further set of initiatives to try to deal with those who are experiencing great hardship due to this disease but do not have the ability to participate in the CRSS. He has launched a fund today that is designed to support businesses that have premises but those premises are not public facing. For example, it could be a premises of a business that does not...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I must ask the Minister for Public Expenditure and Reform to address that question because the issue is under his direct control and I do not want to mislead the Deputy.

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I would expect that when we have a more rounded set of indicators regarding how our budgets perform, progress on them will take time and that progress will be year by year and step by step. If I was to look at how we could do better than that, I think we should pick a very particular area of Government expenditure that could have a larger effect on well-being and make some choices, for...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I will deal with each of the Deputy's points in turn. We are reviewing the operation of the different schemes. The Deputy's analysis of them is pretty fair. Some of them have been successful in releasing credit to particular kinds of companies while with other schemes, in particular the credit guarantee scheme, we have not seen the drawdown of a large amount of much of that facility yet....

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I have given much consideration to the effects of the withdrawal of Ulster Bank from the Irish economy, were it to happen, and the effects of that for current account holders, for those who have mortgages and for those who are looking to secure credit from Ulster Bank in the future. Those concerns are really important and I take them very seriously. Ulster Bank is a very important part of...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I thank the Chairperson and the committee for the opportunity to discuss the current framework for parliamentary engagement in the budgetary process. I welcome the opportunity to discuss the committee's report and look forward to the discussion we will have. At the outset we can all agree that there has been much progress in our broader approach to the national fiscal framework over recent...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I have heard the principle floated in the UK and in other countries, but I would like to see the details of how it would actually work. Let me use Amazon as a good example. I know the Deputy is a big reader and maybe he might be a customer of Kenny's or so many wonderful independent bookshops at the moment. It is not clear to me how it would be possible to design a tax that would be fair...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: May I come in on that? Did the Chairman say "hands-free"?

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I take the Chairman's point about the issue of timing. Clearly, the sooner we can have material shared with the committee the better, but we do face challenges in doing that from a departmental point of view. A concrete example would be the stability programme update, SPU. We would struggle to do an SPU any earlier than we do at the moment because even when we do that update, we only have a...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I was not aware at this point that the operation of our semi-States was being significantly curtailed by state aid requirements. I would also cite the example the Minister for Public Expenditure and Reform has used, where there has been a very significant increase in the ability of the ESB to borrow and that has been delivered while still being consistent with our state aid framework.

Written Answers — Department of Finance: Fishing Industry (4 Feb 2021)

Paschal Donohoe: I am advised by Revenue that the High Court judgments of October 2001 to which the Deputy refers relate to a number of cases dealing with share fishermen with similar facts.  In those cases, it was determined by the High Court that the share fishermen were not employees of the boat owner but had a relationship with the boat owner or skipper in the nature of a partnership.   I am...

Written Answers — Department of Finance: Banking Sector (4 Feb 2021)

Paschal Donohoe: As the Deputy will be 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 their financial sector roles. My officials are...

Written Answers — Department of Finance: Revenue Commissioners (4 Feb 2021)

Paschal Donohoe: I am advised by Revenue that its website was redesigned and upgraded in 2017. The redesign process included wide consultation with taxpayers and stakeholders regarding their online experiences and requirements to ensure the new service is both user friendly and effective in meeting customer needs. For example, the writing style adopted for the website was reviewed by the National Adult...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (4 Feb 2021)

Paschal Donohoe: I propose to take Questions Nos. 44 and 47 together. 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. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which...

Written Answers — Department of Finance: Help-To-Buy Scheme (4 Feb 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment.  The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the...