Results 9,521-9,540 of 33,175 for speaker:Paschal Donohoe

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...

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...