Results 11,341-11,360 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Lending (7 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, the Temporary Wage Subsidy Scheme is one of the main tools with which we are protecting the income of employees who otherwise would not be working. However, whilst I acknowledge the seriousness of the issue you have raised and its impact on those affected, what I cannot do is mandate how temporary payments received under the Temporary Wage Subsidy Scheme are...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Jul 2020)

Paschal Donohoe: I would like to advise the Deputy that Revenue publish comprehensive statistics on the Temporary Wage Subsidy Scheme (TWSS) at the following link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/number-of-taxpayers-and-returns/covid-19-wage-subsidy-s cheme-statistics.aspx. I would draw the Deputy's attention to Table 11 of the 25 June report which breaks down the employees...

Written Answers — Department of Finance: Brexit Issues (7 Jul 2020)

Paschal Donohoe: A failure to achieve a trade agreement between the United Kingdom and the European Union at the end of this year could have severe implications for the economy and the public finances, particularly when combined with the shock of the Covid-19 pandemic. The Deputy will recall that Budget 2020 was framed on the prudent assumption of a disorderly Brexit in January 2020. While the economic...

Written Answers — Department of Finance: Ministerial Responsibilities (7 Jul 2020)

Paschal Donohoe: I wish to advise the Deputy that a briefing document prepared by the Department of Finance was provided to me on my appointment as Minister for Finance. Arrangements are in train for publication of this document having regard to the relevant provisions of the Freedom of Information Act 2014.

Written Answers — Department of Finance: Property Tax (7 Jul 2020)

Paschal Donohoe: I am aware that Revenue has already deferred collection of 2020 Local Property Tax (LPT) liabilities that were scheduled for payment on 21 March 2020 via the electronic Annual Debit Instruction (ADI) option on two occasions. The initial revised date for collection was 21 May 2020 which Revenue subsequently further extended to 21 July 2020 in response to the unfolding COVID-19 crisis. Revenue...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Jul 2020)

Paschal Donohoe: In response to the Covid 19 Public Health emergency, the Government developed a suite of measures designed to support households and businesses that have been negatively impacted by the pandemic and the restrictions that were put in place as a result. These measures include temporary income support for individuals by way of the Pandemic Unemployment Payment (PUP) and the Temporary Wage...

Written Answers — Department of Finance: Fiscal Policy (7 Jul 2020)

Paschal Donohoe: As is widely recognised, GDP figures for Ireland can be misleading due to statistical distortions and are therefore of limited use for comparative purposes. Instead, modified Gross National Income, or ‘GNI*’, an alternative metric published by the CSO, provides a more suitable measure of the underlying size of the Irish economy and as a result is a more appropriate indicator for...

Written Answers — Department of Finance: Fiscal Policy (7 Jul 2020)

Paschal Donohoe: The Stability Programme Update, published in April, estimated a general government deficit of €23 - €30 billion in 2020. As I have said previously, it is entirely appropriate that Government runs a deficit and increases borrowing to support the economy in these unprecedented circumstances. However, borrowing at this scale cannot go on indefinitely and once circumstances allow,...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Jul 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is provided for in section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020. The TWSS is an emergency measure to deal with the impact of the Covid-19 pandemic on the economy. Of necessity, the underlying legislation and the scheme itself were developed rapidly, having regard to the Government objective of providing financial...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 196 and 213 together. In September 2018 my Department published Ireland's Corporation Tax Roadmap. This Roadmap set out the progress made at that time, and the direction in which we would go, towards ensuring that Ireland's corporation tax regime remained appropriate in order to support economic growth and prosperity. Significant actions have been taken on...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 197 and 202 together. The Programme for Government “Our Shared Future” contains a number of commitments in the area of budgetary policy and taxation including a commitment to use both taxation measures, as well as expenditure measures, to close the deficit and fund public services if required. In doing so, the Government will seek to focus...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: The Programme for Government “Our Shared Future” contains a number of commitments in the area of budgetary policy and taxation including a commitment to the establishment of a Commission on Welfare and Taxation. The stated purpose of the Commission will be to consider how best the tax system can support economic activity and promote increased employment and prosperity while...

Written Answers — Department of Finance: Property Tax (7 Jul 2020)

Paschal Donohoe: The Programme for Government "Our Shared Future" adopted by the Government on 27 June 2020 includes a commitment to bring forward legislation in relation to the Local Property Tax (LPT) on the basis of fairness and that most homeowners will face no increase in their LPT liability. In addition there is a commitment to bring new homes, which are currently exempt from the LPT, into the taxation...

Written Answers — Department of Finance: Credit Unions (7 Jul 2020)

Paschal Donohoe: The Government welcomes the important work credit unions are doing to support communities throughout Ireland at this difficult time and recognises the key role that credit unions play in the delivery of financial services in local communities across Ireland, the need for which is heightened at this time. Credit unions account for approximately one third of the consumer credit market and are...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: It is intended that, beginning in 2020, the Recovery Fund will be available for three years and will consist of three primary elements: - Infrastructure development - focussing on areas such as housing, retrofitting and transport to maintain employment and lay the foundation for future employment. - Reskilling and retraining - for those who have lost their jobs as a result of the...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: The Programme for Government sets out the Government’s intention to utilise taxation measures, as well as expenditure measures, to close the deficit and fund public services, if required. It is further stated in the Programme that governmental policy will aim to focus any tax rises on those taxes which tax behaviours with negative externalities, such as carbon tax, sugar tax, and...

Written Answers — Department of Finance: Tax Code (7 Jul 2020)

Paschal Donohoe: The Programme for Government states that there will be a review Capital Gains Tax (CGT) in each Budget over the next five-years, in particular with the objective of supporting innovation driven enterprises that will help transition to a low carbon economy. CGT is subject to ongoing review, which involves the consideration and assessment of the rate of CGT and the reliefs and exemptions...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 205, 207 to 209, inclusive, and 211 together. The Programme for Government ‘Our Shared Future’ contains a number of commitments relating to taxation, including in relation to the tax credit referred to by the Deputy. The intention is to deliver these commitments within the duration of the life of the Government, noting the need to provide a...

Written Answers — Department of Finance: Tax Code (7 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, consideration of possible changes to CAT rates and thresholds generally takes place as part of the annual Tax Strategy Group, Budget and Finance Bill process. Together, these processes consider options for changes across the wider tax system. As is normal, the Deputy will appreciate that I cannot comment on any possible changes in advance of the 2021 Budget.

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, I am supportive and have repeatedly spoken on the need to broaden the tax base. A number of measures have been taken in this regard in recent years and include the introduction of the Universal Social Charge, the Local Property Tax and the Sugar Sweetened Drinks Tax. More recently changes to the VAT rate and carbon tax changes were introduced to broaden the tax...