Results 10,021-10,040 of 32,593 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Revenue Commissioners (26 Nov 2020)

Paschal Donohoe: I am advised by Revenue that mandatory electronic filing and payment of a wide range of taxes has been operating since 2009. The legislation underpinning the mandatory use of these electronic services provides for specific exclusions where a taxpayer does not have the capacity to file and pay online. In this context ‘capacity’ means having sufficient access to the internet...

Written Answers — Department of Finance: Motor Insurance (26 Nov 2020)

Paschal Donohoe: At the outset, policy in relation to driving tests and any decision to postpone tests, are a matter for the Minister for Transport, Eamon Ryan TD. In relation to insurance refunds for learner drivers, it is important to note that neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, as this is a commercial matter for insurers. This position is reinforced...

Written Answers — Department of Finance: Motor Insurance (26 Nov 2020)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, as this is a commercial matter for insurers. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive) which expressly prohibits Member States from doing so. However, I believe that insurers have a fundamental...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS), which is provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, operated from 26 March 2020 to 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1 September 2020. The scheme was introduced as an emergency measure to provide financial support to businesses that were severely...

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: As the Deputy will be aware, I met with representatives of Ulster Bank on the 21st of October. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. News of the review is, of course, unsettling for all stakeholders, especially the staff and customers. I outlined that I expect Ulster Bank to keep all its...

Written Answers — Department of Finance: Covid-19 Pandemic (26 Nov 2020)

Paschal Donohoe: At the time of Budget 2021, my Department projected that GDP would decline by -2½ per cent this year, with (modified) domestic demand - a more appropriate indicator for domestic economic conditions - set to decline by just over 6 per cent. These projections were based on the assumption that targeted measures would be introduced in response to any further pick-up in the Covid19 infection...

Written Answers — Department of Finance: Bank Charges (26 Nov 2020)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities and the imposition of bank fees and charges are decisions to be made by the boards and management of individual banks which need to be run on an independent and commercial basis. You will be aware that, as Minister for Finance, I have no statutory role in relation to the charges applied by credit institutions. Under...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: The Deputy will be aware that the Financial Provisions (Covid-19) (No. 2) Act 2020 (Act No. 8 of 2020)provides for the introduction of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. I have been advised by Revenue that as of Friday 20 November, there were 41,215 employers registered for the...

Written Answers — Department of Finance: Bank Charges (26 Nov 2020)

Paschal Donohoe: As the Deputy is aware as Minister for Finance I have no role in the commercial decisions made by the banks, including the structure and level of pricing for their various product offerings. This applies equally to the banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of the banks which must be run on an...

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: As the Deputy is aware, as Minister for Finance I have no role in the commercial decisions made by the banks, including the structure and level of pricing for their various product offerings for both personal and business customers. This applies equally to the banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Nov 2020)

Paschal Donohoe: I am aware that the general level of lending interest rates in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that rates have been falling. For example, interest rates on new fixed rate mortgages (excluding renegotiations) have fallen from 4.11% in December 2014 to 2.64% in September of this year. ...

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: As the Deputy is aware and as set out in the Relationship Framework for AIB, due to its systemic importance to the Irish financial system, the bank received significant support from the State in the financial crisis. This support led to the State becoming the majority shareholder in AIB with the approval of the European Commission. This approval was subject to the Minister and the Bank...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (26 Nov 2020)

Paschal Donohoe: The Disabled Driver and Disabled Passengers (Tax Concessions) Scheme provides for relief on VAT and VRT, based on how much the car has been adapted and whether the beneficiary is a driver or passenger, up to a maximum of - Disabled drivers: €10,000 - Disabled passengers: €16,000 - Specifically adapted vehicles for drivers with severe disabilities: €16,000 (Specifically...

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: On the 21 October I met with representatives of Ulster Bank. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. In particular, I asked that staff representatives will be consulted and kept informed of developments. I also emphasised the importance of Ulster Bank to the Irish financial services market, to the wider...

Written Answers — Department of Finance: Brexit Supports (26 Nov 2020)

Paschal Donohoe: My Department is participating in whole of Government preparations for the end of the transition period, including in the area of business supports. This includes the measures brought forward through Budget 2021, which is based on a no deal Brexit scenario. In particular, I’d like to highlight the Brexit Loan Scheme and Future Growth Loan Scheme offered by the Strategic Banking...

Written Answers — Department of Finance: Banking Sector Data (26 Nov 2020)

Paschal Donohoe: Officials in my Department requested a comment from the relevant banks in relation to the Deputy’s question and received the following responses in this regard: AIB: “As part of AIB’s sustainability agenda, the bank does not provide term finance or advisory services to entities involved in the extraction of oil and coal, onshore and offshore exploration and natural gas...

Written Answers — Department of Finance: Tax Code (26 Nov 2020)

Paschal Donohoe: I announced in Budget 2021 my intention to publish an update on Ireland’s Corporation Tax Roadmap. The Roadmap, first published in September 2018, marked the progress made to that date in the ongoing process of international corporate tax reform and set out 11 further commitments to action in the areas of tax reform, information exchange and dispute resolution. Two years on from this...

Written Answers — Department of Finance: Help-To-Buy Scheme (26 Nov 2020)

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. In addition to the conditions laid down in section 477C Taxes...

Written Answers — Department of Finance: Financial Services Sector (26 Nov 2020)

Paschal Donohoe: In 2015 the government launched a Strategy entitled IFS2020: A Strategy for Ireland’s International Financial Services Sector 2015–2020. New implementation structures were established under that Strategy and the Clearing House Group no longer exists. This revised committee structure continues under the most recent Strategy for the development of the international financial...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: As the Deputy will be aware, on 18 March last the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers who were economically impacted by 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...