Results 9,961-9,980 of 32,593 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: I can give the Deputy further information about his constituency in the context of how the counties are drawing down the other supports he mentioned. Looking at Offaly and Laois collectively, there are now 379 employers participating in the employment wage subsidy scheme. There are 4,056 employees of those 379 employers participating in the scheme. I raise that because that is the other...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: I thank the Deputy for raising this matter. A similar matter was raised with me yesterday in the Dáil. The employment wage subsidy scheme, in particular, is supporting businesses that have every prospect of being viable again in the future. We all hope that opportunity for viability will come sooner rather than later. That is why implementing public health guidance is so important....

Ceisteanna Eile - Other Questions: Tax Code (26 Nov 2020)

Paschal Donohoe: A fundamental principle of the capital acquisitions tax, CAT, regime is that inheritance or gift tax is levied on the beneficiary and that the level of taxation is determined according to his or her relationship with the disponer. The reason for this approach is that the capital being transferred has not been earned by the beneficiary and the effective taxation of windfall capital is an...

Ceisteanna Eile - Other Questions: Tax Code (26 Nov 2020)

Paschal Donohoe: We are in the annual process of passing the Finance Bill and Report Stage will be taken in the House next week. I have indicated that I do not have plans to change the thresholds to which Deputy Naughten refers in the Finance Bill. It is important that I am open about that to the House. I do not believe that such changes are currently merited given the huge pressure that we are under to...

Ceisteanna Eile - Other Questions: State Savings Schemes (26 Nov 2020)

Paschal Donohoe: The Deputy has raised an incredibly important point. The reason we have had a higher level of public spending in place is to coincide exactly with the huge reduction in private spending, consumption and investment which has, in turn, been mirrored by the increase in savings to which he referred. When we get into a situation where those savings begin to be released into our economy, we will...

Ceisteanna Eile - Other Questions: State Savings Schemes (26 Nov 2020)

Paschal Donohoe: The Tánaiste launched a very important initiative yesterday, the Look for Local campaign, which encourages consumers to be aware of the opportunities to spend with local business. The Deputy made the important point that in a open economy such as ours, it is possible that when people start spending again, the money may be spent to the benefit of businesses other than those involved in...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: I thank the Deputy for recognising the value of the CRSS. I will comment first on its national performance, after which I will provide the information requested by the Deputy in respect of his constituency. The registration system for the CRSS was released by Revenue on 1 November. Up to 26 November 2020, 10,200 businesses had registered for the scheme in respect of 11,100 business...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: That is another constructive suggestion from the Deputy. We evaluated what opportunities there were for supporting local spend and supporting activity in local shops which, as the Deputy stated, have had a very, very difficult year this year. It was in recognition of the challenges retailers faced that the Government in the July jobs plan lowered the standard rate of VAT. As the Deputy...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (26 Nov 2020)

Paschal Donohoe: The short answer is that to deal with that matter I have brought forward an amendment to the Finance Bill to provide for the existing medical criteria in primary legislation and I hope it will be accepted by the House on Report Stage next week. That will allow the continuation of the issuing of certificates once the Bill is passed. This is only an interim solution. On Committee Stage, I...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (26 Nov 2020)

Paschal Donohoe: When the Bill is enacted, it will allow for assessments to recommence in circumstances where the legal basis for such assessments is clarified. The Deputy asked why this is only being done now. The answer is that it must be done by means of amendment through a finance Bill. Finance Bills are progressed at budget time, so I had to await the opportunity of this year's Finance Bill to make...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (26 Nov 2020)

Paschal Donohoe: The Deputy speaks with real pedigree regarding emergency legislation that he voted for being brought in. He voted for some of the legislation that had the most damaging effect on the State and burdened generations to come with the debt with which we are still dealing. I do not know where in my statement he got any hint of harshness. I think he must have been distracted and looking at...

Ceisteanna Eile - Other Questions: State Savings Schemes (26 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 65 and 77 together. The introduction of any new State-supported savings measures would normally be considered as part of the annual budgetary and finance Bill processes. Given that precautionary saving is likely to have increased as a result of the pandemic, the need for the State to encourage further saving or introduce any State-backed investment scheme is...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: This is typical of Sinn Féin. Its members come in here and levy accusations about me, my party and the Government being in the pocket of an industry, whereas the truth is that I am focused on trying to ensure, through policies that can make a difference and laws we can implement, that we can deliver lower premiums for businesses, families and motorists over time. The Deputy does not...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: The Deputy is not being serious on this matter. He comes in here and roars at me on different matters. I know how important these issues are. If I do not meet the insurance sector to raise the issues of competition and of ensuring that those to whom the sector provides policies are treated fairly, he will come in and roar at me about that as well. He will condemn me for not meeting the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: -----and when I do meet the insurance sector, Deputy Doherty walks in here and roars again. He stands up and gives, as I have said before of him, the single transferable roar, depending on what the issue of the day is. He and other Members of the House, I remember very clearly, called on me to meet the insurance sector in order to raise the issues he and others have raised. Then, when I do...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Nov 2020)

Paschal Donohoe: I am not interested in sound bites on this; I am interested in making progress on an issue I know is very serious. The data the Central Bank has published show the progress that has been made on motor insurance premiums.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: The stay-and-spend scheme provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per person, or €1,250 for a jointly assessed couple. It opened on 1 October 2020 and is scheduled to run until 30 April 2021. The tax credit is worth a maximum of €125, or €250 for a jointly assessed couple. The purpose of...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: I remind the Deputy that, unfortunately, much of the money to which he refers is money that we are borrowing, so if the stay-and-spend scheme ends up costing far less than I expect, much of that will be due to reasons that are beyond my control. This means, in effect, that we are borrowing less and adding further debt onto this generation and generations to come. The scheme's...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Avoidance (26 Nov 2020)

Paschal Donohoe: I thank the Deputy. As he is aware, I am not in a position to comment on the activities of individual taxpayers. However, I can give the following overview of section 110 of the Taxes Consolidation Act 1997 as it relates to the securitisation of mortgages. Securitisation allows banks to raise capital and share risk. By providing a repackaging and resale market for corporate debt it...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Avoidance (26 Nov 2020)

Paschal Donohoe: In recognition of some of the issues raised by Deputy Boyd Barrett and others, important changes were made in Finance Acts in 2016, 2017 and 2019 to deal with taxation of income and of these vehicles. I am not in a position to comment on any individual transaction but I wish to emphasise that tax liability arises on the distribution of the income to noteholders.