Results 9,881-9,900 of 33,280 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Fiscal Data (4 Mar 2021)

Paschal Donohoe: The assessment of financial stability risks are discussed regularly at meetings of the Financial Stability Group (FSG), which comprises senior management of the Department of Finance, the Central Bank of Ireland and the National Treasury Management Agency. The FSG discussed global stablecoins at its meeting in September 2019. The FSG maintains a watching brief on any potential financial...

Written Answers — Department of Finance: Value Added Tax (4 Mar 2021)

Paschal Donohoe: I do not plan on extending the temporary reduction from 23% to 21% in the standard rate of VAT beyond the 28th of February.

Written Answers — Department of Finance: Tax Code (4 Mar 2021)

Paschal Donohoe: I am advised by Revenue that a person transferring their normal place of residence from outside of the EU may import their personal property free of import charges subject to the ‘Transfer of Residence’ conditions being met. One condition is that the importation of the goods must take place in the period six months before or twelve months after the transfer of residence occurs....

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

Paschal Donohoe: As the Deputy is aware, as Minister for Finance 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. I'm precluded from intervening on behalf of any individual customer in any particular bank. Decisions in relation to commercial matters are the sole responsibility of the board and management of the banks,...

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

Paschal Donohoe: I propose to take Questions Nos. 45 and 46 together. I am advised by Revenue that at end February 2021, 24,174 applications to register for the Covid Restriction Support Scheme (CRSS) had been received. Of those, 20,689 (86%) have been registered and payments of €333m have issued to those qualifying businesses. Of the remainder, 2,925 (12%) were not eligible for the scheme and 560 (2%)...

Written Answers — Department of Finance: Banking Sector (4 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 networks, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The...

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

Paschal Donohoe: I am advised by Revenue that the persons in question made an application for the Help to Buy (HTB) scheme on 29 October 2020. This application was approved by Revenue at that time but as no formal HTB claim was made by the persons, the application expired on 31 December 2020. The persons subsequently made a new application, which has been approved by Revenue. Revenue has also contacted...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: The Deputy raised a specific issue relating to equipment. If he gives me the details of that example, I will ensure he gets an answer.

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: Section 10 of the Act does, I believe, lay down criteria regarding the operation of banks in Ireland, but it does not constrain those banks from making commercial decisions regarding their future and operations. That is what has happened in the case of NatWest Bank. On the Deputy's second question, there is nothing to stop any individual credit union making money available for a loan for...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I will follow up on the point the Deputy put to me regarding the use of buildings owned by Bank of Ireland. I understand, however, that more of these buildings are leased than we might initially think. The Deputy makes a practical suggestion that I will be glad to follow up and get back to him on. The Deputy also asked about setting capital reserve requirements for banks and credit unions....

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: There are no likely retail entrants into the Irish banking sector in the immediate future; none. The possibility that this may change in the medium term exists. It may change as the banking sector overall regains a degree of profitability but there are no large European or global retail banks considering moving into Ireland in the immediate future. We have had a bank leave Ireland and I am...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: In the aftermath of the decision by Bank of Ireland, a major opportunity has been announced for post offices to go into partnership with Bank of Ireland to try to develop services. I am not sure if the Deputy was aware of that but it is pertinent to the point he is making. The Deputy asked if I have plans to set up a new public bank. Is the Deputy aware of the work of the Strategic Banking...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: Deputy Naughten made the point that we should have a State body that provides unsecured loans at a low interest rate. That illustrates the difficulty with such a State body. I have not received such correspondence yet from Mr. McRedmond. I will check to see where it is and I will respond. An Post is moving into a new partnership with Bank of Ireland. With respect to Deputy Naughten, the...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: Deputy O'Sullivan raises an important point. In some lending schemes that we have put in place, the amount of capital we made available has been fully drawn down. Some other schemes, which Deputy O'Sullivan may well be referring to, have not seen the same demand. We will have to examine whether there is a case to reallocate that funding, what we can learn from schemes that have gone well,...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: That is relevant to the question the Deputy put to me.

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I listened to what Deputy Mac Lochlainn said. I was very much aware of this issue when I was Minister for Public Expenditure and Reform and of the significant difficulty many families faced as a result of dealing with the awful effect of mica on the structure of their family home. In truth, I was not aware of the issues the Deputy just raised with me, so I will have to check the...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I am not sure I fully understand the point the Deputy is making. In truth, I do not follow his point. Is he referring to the value of the properties that have been affected by mica and have a mortgage on them? If he could perhaps explain it to me again, I will respond.

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: There is a little over a minute left in the Government speaking slot. May I make two points in response to the issues that have been raised?

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I note, in particular, the points that were made by Deputies Calleary and O'Callaghan. They raised the question of the seriousness of what it means for Ulster Bank to leave Ireland. I want to offer one key point for speakers to reflect on. Many here this evening are being critical of decisions that have been made by some banks as they look to make profit, or make profit in the future. At...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I thank the Deputy for the different questions she has put to me. I was struck by what Deputy Shortall said. She said that nothing has changed. What has changed is that we have an independent regulator with strong powers at its disposal and a significant resource. It views these issues seriously, as evidenced by the statement made yesterday. If we wanted to see a signal of a different...