Results 10,761-10,780 of 32,593 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Contracts (30 Sep 2020)

Paschal Donohoe: My Department has engaged the following third–party company for the years 2017, 2018, 2019 and to date in 2020 for the purposes of media monitoring and providing reports on media coverage: Service Provider 2017 2018 2019 2020 KANTAR Media Services 13,782 8,418 9,988 5,688

Written Answers — Department of Finance: Credit Unions (30 Sep 2020)

Paschal Donohoe: In response to the seven questions raised by the Deputy, the Central Bank of Ireland (Central Bank) have provided me with a response on each of the issues which are set out below: 1. Following the High Court appointment of the Joint Liquidators to the Credit Union referred to in the details supplied on 17 June 2020, the Central Bank published the partially redacted...

Ceisteanna Eile - Other Questions: EU Issues (29 Sep 2020)

Paschal Donohoe: That work is under way. An updated report has been published. It is an action plan towards a capital markets union which looks at the different steps member states may be able to take to accelerate progress in how we can arrive at new ways of funding investment and delivering lending, particularly to smaller companies across the EU. I will work in particular with Commissioner...

Ceisteanna Eile - Other Questions: EU Issues (29 Sep 2020)

Paschal Donohoe: It is about jobs, how we can use people's savings to fund within Europe investment that can create more jobs and better income in future. That is the purpose of capital markets union. We have not made the progress on it in the EU in recent years that we had planned and wanted. I believe the kind of context the Deputy referred to will be cause for more ambition and energy in this area. It...

Ceisteanna Eile - Other Questions: EU Issues (29 Sep 2020)

Paschal Donohoe: The best way we can begin to do that work is in our schools. The curriculums in business studies and economics and how the basics of mathematical literacy are taught in secondary school, using real life examples in relation to finances and work, are the foundation towards beginning that. In future, the products that will be available to families and businesses may be safer in many ways, in...

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

Paschal Donohoe: I propose to take Questions Nos. 42 and 61 together. The 2020 programme for Government contains several commitments related to working from home, the responsibility for which falls to my Department. There is also a commitment to the development of a "national remote working strategy", and to that end a remote working strategy group has been established. A number of issues are being...

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...