Results 10,721-10,740 of 32,547 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Tax Reliefs (29 Sep 2020)

Paschal Donohoe: It sounds, from the way the Deputy introduced the question, that there is already much demand in the homes that he referred to and the Deputy has that work well under way already. How could I not be aware of so many more people now working from home? Of course, they are making the choice regarding where that home will be located. There are supports available within the tax code for this...

Ceisteanna Eile - Other Questions: Tax Reliefs (29 Sep 2020)

Paschal Donohoe: I am not privately concerned about the prospects of offices being empty for the foreseeable future. I am publicly concerned about it. Looking at where we are now across September and October, a time in which many new employees are starting work in new employers throughout the country, for example, for them not to have the opportunity to be able to go into an office to sit with peers and...

Ceisteanna Eile - Other Questions: Tax Reliefs (29 Sep 2020)

Paschal Donohoe: I take the Deputy's point. That is the kind of balance we need to try to move to, where we have offices being used in a way that is different from how they were used in the past but have people in them who are learning, who are healthy and who are safe. The most important priority is to try to keep people safe and try to reduce the spread of this disease. That is why our public health...

Ceisteanna Eile - Other Questions: Tax Collection (29 Sep 2020)

Paschal Donohoe: The European Commission first proposed a digital services tax in early 2018. After a period of intensive technical and political discussions among member states, a revised proposal for a digital advertising tax was brought to ECOFIN in March 2019 but no agreement was reached there. It was subsequently agreed that member states would focus on supporting the ongoing discussions at OECD...

Ceisteanna Eile - Other Questions: Tax Collection (29 Sep 2020)

Paschal Donohoe: The question from the Deputy highlighted how challenging this environment will be. In last year's budget and much of the work that led up to it, I made the point that our corporate tax revenues, which have increased in recent years, will fall. The reason for that fall is highlighted in the question asked by the Deputy. If agreement is not reached, the risks related to double taxation will...

Ceisteanna Eile - Other Questions: Tax Collection (29 Sep 2020)

Paschal Donohoe: That is the challenge we face. That agreement brings consequences, but agreement not being reached also brings consequences. The Deputy is correct in his summary of the matter. Several proposals are being put forward within the EU to generate what are called "own resources". They are, in essence, taxes the revenue from which goes back to the European Union. There are several such taxes...

Ceisteanna Eile - Other Questions: Banking Sector (29 Sep 2020)

Paschal Donohoe: Deputy Doherty is referring to alleged inaction. As I pointed out to him earlier, payment breaks were made available in the first place because the Government took action. This has been a huge help to so many families and businesses at a time when it was needed. We have seen the number of people who need these payment breaks begin to decrease, quite considerably in the case of some banks....

Ceisteanna Eile - Other Questions: Banking Sector (29 Sep 2020)

Paschal Donohoe: I thank Deputies Barry, Smith and Doherty for their questions. I have already contacted the parent bank, NatWest, to ascertain the status of the alleged reports. My contact with the bank has informed the answer I gave to Deputies this afternoon. As the process develops within NatWest, I will of course raise issues and perspectives that I have in this regard. I absolutely understand the...

Ceisteanna Eile - Other Questions: Banking Sector (29 Sep 2020)

Paschal Donohoe: Payment breaks have provided substantial and rapid relief to allow homes and businesses to absorb the shock and impact of Covid-19. The expiry of the guidelines do not prevent banks from engaging with customers who continue to experience difficulty beyond the deadline and all applicable consumer protection remains in place. Borrowers who cannot return to full repayments following the...

Ceisteanna Eile - Other Questions: Banking Sector (29 Sep 2020)

Paschal Donohoe: The guidance from the European Banking Authority on the matter was that economy-wide payment breaks should not be extended. As of yet I am not aware if other governments or regulators have decided to extend further the measures they have in place. Comparing where we are versus other countries, those other countries have put in place very different arrangements. Superficially they may in...

Ceisteanna Eile - Other Questions: Tax Credits (29 Sep 2020)

Paschal Donohoe: I will definitely consider the different issues the Deputy has raised. I appreciate that in any tax credit such as this, that is targeted and that is looking to support those who are doing important work in our society and for their families and so on, anomalies can be generated by it at times and I will look at the issue the Deputy has raised. I want to make the point that, for example, if...

Ceisteanna Eile - Other Questions: Tax Credits (29 Sep 2020)

Paschal Donohoe: The Deputy has pointed to a number of potential anomalies and issues, which she has explained to me in the question she has put forward. I have looked to explain why the tax credit is at the level it is and I have noted what the financial cost would be in any such change. As I have already said to the Deputy, I am acknowledging the financial cost involved in a change such as this. In doing...

Ceisteanna Eile - Other Questions: Banking Sector (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 34 and 41 together. I am aware of the reports that NatWest is engaged in a strategic review of its operations, including those of Ulster Bank Ireland. The Government has no formal role in such a review or in any commercial decisions that result as these are a matter for the board and management of the bank and its parent company, NatWest. I understand...

Ceisteanna Eile - Other Questions: Banking Sector (29 Sep 2020)

Paschal Donohoe: My exact wording was that I expect Ulster Bank to keep stakeholders, the Government and those who depend upon them for their jobs or for lending informed. Deputy Brendan Smith raising this question has given me the opportunity to make clear my expectation on that communication. As I did with the earlier question that was put to me, I want to acknowledge how valuable Ulster Bank is and will...

Ceisteanna Eile - Other Questions: Irish Fiscal Advisory Council (29 Sep 2020)

Paschal Donohoe: On the scale of the stimulus and the role of capital spending, the Minister for Public Expenditure and Reform, Deputy Michael McGrath, has committed to €9 billion of investment in capital projects next year. To put that in context, the figure at the start of the previous Dáil was between €3 billion and €4 billion. It is a huge increase on recent years. Unlike in...

Ceisteanna Eile - Other Questions: Irish Fiscal Advisory Council (29 Sep 2020)

Paschal Donohoe: There are two points on that. I would be careful, as the Deputy acknowledged, about deriving a great deal of comfort from what has happened to national income growth because so much of the improved performance in national income has been driven by what has happened to our exports in a particular part of our economy. The reality of where we are is contained in the Deputy's point about what...

Ceisteanna Eile - Other Questions: Tax Credits (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 33 and 271 to 273, inclusive, together. Consistent with the programme for Government, it is not the intention to increase the value of income tax credits or bands in budget 2021. I note, however, that the Deputy raised three separate but related issues regarding important measures in the tax code that support caring for people in vulnerable circumstances....

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry Regulation (29 Sep 2020)

Paschal Donohoe: The comparison with the FCA in the UK is interesting. The FCA began this work in October 2018. It has now published a final report. It was published this week along with a related consultation document. The FCA is inviting views on its consultation document up to 25 January 2021. The FCA has indicated that in the aftermath at some point next year it will publish a policy statement. That...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry Regulation (29 Sep 2020)

Paschal Donohoe: The actual timeline is that the Central Bank report began in January and the report is now published. The bank has moved with speed on this issue. The Deputy compared our work to what is happening with the FCA. The FCA has taken longer to do this work. It has now published something that might lead to action next year. That is the timeline for what is happening elsewhere. The Central...

Ceisteanna Eile - Other Questions: Irish Fiscal Advisory Council (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 32, 35 and 36 together. The Irish Fiscal Advisory Council published its annual pre-budget statement on Wednesday, 16 September. As ever, this is valuable analysis and I welcome the council's contribution at an early stage of the budget process. It is also worth pointing out that around the same time, the Governor of the Central Bank wrote to me...