Results 11,261-11,280 of 32,602 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Credit Unions (16 Jul 2020)

Paschal Donohoe: Decisions on any individual products, such as the product Deputy O'Sullivan has referred to, are a matter for the regulator and the Central Bank. I am aware of work that the credit union movement is doing on this and on several other exciting ideas. I will find out the status of that product and I will report back to Deputy O'Sullivan on it.

Ceisteanna Eile - Other Questions: Student Accommodation (16 Jul 2020)

Paschal Donohoe: I should make clear to the House that the issue Deputy Naughten has raised is frequently raised with me in my constituency and elsewhere. Currently, there are no tax incentive measures specifically targeted at the providers of student accommodation. Section 50 of the Finance Act 1999 provided for a student accommodation scheme whereby expenditure incurred on student rental accommodation...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Corporation Tax (16 Jul 2020)

Paschal Donohoe: I will use my role as the Minister for Finance for Ireland to pursue what I believe are longstanding clear matters for our national interest. That is what I have done in recent years and it is what I will continue to do. I will respond at another point to the ruling concerning anti-money laundering, but in the brief answers I have given to the Deputy, I have pointed to that vast amount of...

Ceisteanna Eile - Other Questions: Mortgage Lending (16 Jul 2020)

Paschal Donohoe: I absolutely appreciate the concerns many people are experiencing about mortgage applications and drawdowns at a difficult time, and my Department and I are maintaining close contact with the Central Bank and the Banking and Payments Federation Ireland, BPFI, as the lending industry works to address the difficulties Covid-19 is causing for both borrowers and lenders. The Central Bank has...

Ceisteanna Eile - Other Questions: Mortgage Lending (16 Jul 2020)

Paschal Donohoe: I understand the concerns of Deputy McAuliffe's constituents, Derek and Sandra. I want to be in a position to ensure that if a loan is made available to Derek and Sandra, they will always be in a position to be able to repay that loan without facing additional financial hardship or difficulty. We are all aware of the huge stress and anxiety that can also be caused by the development of debt...

Ceisteanna Eile - Other Questions: Mortgage Lending (16 Jul 2020)

Paschal Donohoe: I completely understand the issue that Deputy has raised. I again recognise the concern that many people have who have not seen their incomes change. The Deputy made a crucial point about citizens moving on to the income support wage subsidy scheme. In many cases, their income has not changed, which is one of the reasons we brought in the scheme. Even though the income has not changed, I...

Ceisteanna Eile - Other Questions: Credit Unions (16 Jul 2020)

Paschal Donohoe: I thank the Deputy for his good wishes. I propose to take Questions Nos. 5, 7 and 67 together. The Government recognises the key role that credit unions play in the delivery of financial services to local communities across Ireland, the need for which is now heightened. Credit unions account for approximately one third of the consumer credit market and are well positioned to provide credit...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Apple Escrow Account (16 Jul 2020)

Paschal Donohoe: What I want is to have the tax revenue available to pay for public services and to, for example, generate a huge income subsidy support plan over a matter of days that played a role in hundreds of thousands of jobs being retained. I want to have the tax revenue to allow us to bring in payments like the pandemic unemployment payment. My interest is in having the tax revenue to deliver the...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Corporation Tax (16 Jul 2020)

Paschal Donohoe: Companies in Ireland are mainly taxed at the standard corporation tax rate of 12.5%. Different methodologies are used and while some of them lead to different claims regarding our tax rate, it is important to look at recent work done by the Revenue Commissioners, which published an updated analysis of returns filed in 2018. They noted that the effective rate of tax paid by all companies in...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Corporation Tax (16 Jul 2020)

Paschal Donohoe: I have already relayed to the House my views on unanimity and the need for national sovereignty regarding particular tax matters to continue to be recognised by the European Union. I will continue to hold that view in the future, as I expect this House will as well. In fairness to the Deputy, while he may have raised questions regarding the speed at which change has been brought in and the...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Lending (16 Jul 2020)

Paschal Donohoe: It was my job as this issue was developing to work with the banks to ensure provisions were put in place to allow payment breaks to be given to mortgage and loan holders at a time when they needed them the most. When we were facing into this period, we were looking at a public health crisis and an economic emergency. As a result of the work done by the Department of Finance and me and the...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Apple Escrow Account (16 Jul 2020)

Paschal Donohoe: The Deputy will be aware that the General Court of the European Union annulled the European Commission's state aid decision of 30 August 2016 with respect to Apple. The court concluded that the Commission in its decision had failed to demonstrate that by issuing the opinions in 1991 and 2007, the Irish authorities had granted the two Apple companies, ASI and AOE, a selective advantage. The...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Apple Escrow Account (16 Jul 2020)

Paschal Donohoe: In pursuing this issue, the only interest I have had in mind is that of the many hundreds of thousands of people who work in very large companies in this country. At a time of economic turmoil, when we are seeing rates of employment and rates of income change very quickly, the only interest I have had, in three years of dealing with this matter, is how we can continue to stand over an...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Lending (16 Jul 2020)

Paschal Donohoe: I thank the Deputy for his good wishes on my new role. I look forward to working with Members of the Dáil and with finance Ministers across Europe over the next two and a half years. To deal with the Deputy's question, the members of the Banking and Payments Federation of Ireland, BPFI, introduced a payment break for their customers on 18 March last. These payment breaks were agreed...

Written Answers — Department of Finance: Economic Growth Rate (16 Jul 2020)

Paschal Donohoe: The European Commission’s summer economic forecasts signals a deep contraction in European economic activity this year, with a gradual recovery next year. EU GDP is projected to shrink by around 8¼ per cent, while global GDP (excluding the EU) is expected to contract by 3.9 per cent this year. There is no doubt that we are in the midst of a deep global recession and the...

Written Answers — Department of Finance: Stability and Growth Pact (16 Jul 2020)

Paschal Donohoe: As outlined in the Stability Programme Update, published by my Department in April, the so-called ‘general escape clause’ of the Stability and Growth Pact was activated for the first time in March of this year. The activation of the clause temporarily suspends the normal fiscal requirements applying to Member States under the preventive arm of the Pact in 2020. This decision...

Written Answers — Department of Finance: Economic Policy (16 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 14 and 20 together. The Government has committed to a series of immediate actions to support the economy following the Covid-19 pandemic. These measures will be set out in the forthcoming July stimulus. Building on the existing suite of supports introduced since the crisis began, these measures will help sustain incomes, boost business and help...

Written Answers — Department of Finance: Commercial Rates (16 Jul 2020)

Paschal Donohoe: My colleague with responsibility for Housing, Planning and Local Government, Minister O'Brien has advised me of the following: Local authorities are under a statutory obligation to levy rates on the occupiers of rateable property in accordance with the details entered in the valuation lists prepared by the independent Commissioner of Valuation under the Valuation Acts 2001 to 2015. ...

Written Answers — Department of Finance: Insurance Costs (16 Jul 2020)

Paschal Donohoe: At the outset, it is important to note that I am very much aware of the problems faced by many consumers, businesses, community and voluntary organisations in relation to the cost and availability of insurance. This Government will prioritise reform of the insurance sector with particular emphasis on motor, public liability, and employer liability insurance. This is recognised in the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 18, 19, 62 and 64 together. The Temporary Wage Subsidy Scheme (TWSS) was introduced in March and was specifically designed to support firm viability and preserve the relationship between the employer and employee insofar as is possible through the lockdown period, in circumstances where the employer’s business had been negatively impacted by...