Results 10,781-10,800 of 32,593 for speaker:Paschal Donohoe

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...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (29 Sep 2020)

Paschal Donohoe: I am representing my party and I am the Minister for Finance in the Government which has at all times sought to do the right thing by those who are facing such difficulties and those who are experiencing the crisis of Covid-19. Deputy Doherty is at it again. He is referring to Italy but, in the comparison he is making, will he point to the fact that, during the moratorium in Italy, only...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (29 Sep 2020)

Paschal Donohoe: I thank the Deputy for raising this important matter. As he is aware, this is a very important scheme, the cost of which was, in 2019 and excluding motor tax, €72 million. To repeat what I have said, this scheme is important for many and I understand the many demands on it. It is open to severely and permanently disabled persons as a driver or as a passenger, and it is open to...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (29 Sep 2020)

Paschal Donohoe: I absolutely understand the concerns of the many people who wish to access this scheme. I understand their level of need. I am now considering the consequences of the Supreme Court ruling on this matter. I have asked my officials to prepare options for me as to what we can do in respect of this scheme. I know many Deputies in this House represent constituents who, for entirely...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Primary Medical Certificates (29 Sep 2020)

Paschal Donohoe: In his question, the Deputy acknowledged the challenges on which we need to reflect. This scheme is very valuable to those who participate in it. They deserve the value afforded by the scheme, which gives help to those who need it most. I need to ensure that, if any further changes are made to the scheme, it will continue to target a great deal of taxpayers' money at those who need it most...

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

Paschal Donohoe: Given all the work he has done in this area, the Deputy will be aware of what dual pricing is, so I will not go through the definition. As he himself has acknowledged, the Central Bank has now published the findings of a phase of its work in studying this practice in the Irish market. Our programme for Government includes a commitment to remove this practice from the market. I will be...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (29 Sep 2020)

Paschal Donohoe: The banks and the Government are aware of the great challenges that are facing so many. We have put in place and released the supports that made a difference to so many at such a crucial time. Payment breaks were applied to 157,000 customer accounts over the past six months. Those related to mortgages, personal loans and SME loans, and they were a source of considerable relief to customers...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Covid-19 Pandemic Supports (29 Sep 2020)

Paschal Donohoe: I have a responsibility and duty in this regard which I have discharged. It is by discharging this duty and responsibility that 89,000 breaks were granted to mortgage holders who needed them in the first place. Since then, we have seen almost 37,000 of those deciding they do not need the payment breaks, and that they are able to honour their loans in full. What Deputy Doherty has just...

Written Answers — Department of Finance: EU Budget Contribution (29 Sep 2020)

Paschal Donohoe: As the Deputy will be aware, on 21stJuly 2020, Heads of State and Government reached agreement on the Post-2020 MFF and recovery plan Next Generation EU, totalling €1.82 trillion. Difficult discussions took place over four days, but the Government has welcomed this agreement. It is a fair and balanced outcomeand demonstrates that Europe can work collectively to deal with this...

Written Answers — Department of Finance: Tax Code (29 Sep 2020)

Paschal Donohoe: I understand that the Deputy is referring to the recently published Central Bank report “Household Wealth: What is it, who has it, and why it matters”. This report presents the results from the Household Finance and Consumption Survey (HFCS) 2018, which collects data on households’ financial positions. That survey was undertaken prior to the outbreak of...

Written Answers — Department of Finance: Covid-19 Pandemic (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 45, 58 and 67 together. As the Deputies will be aware, Revenue set out last Friday how any tax liability arising on the Temporary Wage Subsidy Scheme (TWSS) and the Pandemic Unemployment Payment (PUP) will be dealt with.   While the expected tax liability should be modest in most cases, the position as set out by Revenue is very welcome and...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 46, 55, 89, 262, 283 and 314 together. The design of the Employment Wage Subsidy Scheme (EWSS) reflects the changing environment around the COVID-19 pandemic which has shifted from crisis mode to one of living alongside the virus, in line with the recently announced Resilience and Recovery 2020-2021: Plan for Living with COVID-19.  The...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) expired on 31 August 2020.  The Employment Wage Subsidy Scheme (EWSS) replaced the TWSS from 1 September, as the Government’s focus has shifted from an employee income support paid via the employer that maintained the existing employee/employer relationship insofar as was possible, to a direct employer subsidy to help support viable firms...

Written Answers — Department of Finance: Legislative Process (29 Sep 2020)

Paschal Donohoe: The Investment Limited Partnership (Amendment) Bill 2019 passed all stages in Dáil Eireann last year.  The previous Government intended to introduce a number of amendments to the Bill in the Seanad, related to the introduction of anti-money laundering standards and beneficial ownership requirements as signalled at the time in the Dáil.  However, the Bill lapsed with the...

Written Answers — Department of Finance: Mortgage Lending (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 49, 50, 54, 56, 73, 76 and 305 together. 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...