Results 13,341-13,360 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Budgets (26 Sep 2019)

Paschal Donohoe: This question is more appropriate to my colleague the Minister for Housing, Planning and Local Government as the allocation of funding to housing schemes is primarily his policy responsibility.  The Deputy may be aware that the Minister for Housing, Planning and Local Government already set out in his answer to PQ 25232 that he had received sanction to increase the funding of the...

Written Answers — Department of Finance: Brexit Preparations (26 Sep 2019)

Paschal Donohoe: The Government has been actively preparing for Brexit since the Brexit referendum took place. While a no deal Brexit will never be Ireland or the EU’s choice, the risk of a no deal remains significant and, therefore, no deal preparations have the highest priority across Government. The aim of the Government’s preparations is to make sure that Irish citizens and businesses...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Sep 2019)

Paschal Donohoe: The European Central Bank is responsible for the formulation and implementation of monetary policy for the eurozone and in that context it determines its key lending and deposit rates for monetary policy operations.  The current ECB marginal facility lending rate is 0.25% and, effective from 18 September last, the ECB's deposit facility rate is currently -0.5%. While the ECB is...

Written Answers — Department of Finance: European Central Bank (26 Sep 2019)

Paschal Donohoe: The European Central Bank (ECB) has a very clear and limited mandate, given by the Treaty on the Functioning of the European Union, which is to maintain price stability in the euro area.  The Treaty establishes the independence of the ECB by prohibiting it from seeking or taking instructions from EU institutions or bodies, from any government of an EU Member State, or...

Written Answers — Department of Finance: Home Building Finance Ireland (26 Sep 2019)

Paschal Donohoe: HBFI commenced operations on the 28th January this year and published its half-year progress update in mid-July. The update is available on the HBFI website (www.hbfi.ie/latest/home-building-finance-ireland-publishes- half-year-update) and I am advised that HBFI furnished a copy to all Deputies. The key highlights to end June (after 5 months of operations) are as follows: - More than 100...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Sep 2019)

Paschal Donohoe: As the Deputy will be aware, as Minister for Finance I have no role in setting the interest rates on lending products offered by the banks in which the State has a shareholding. The day to day operations of the banks are the sole responsibility of the boards and management teams and each bank must be run on an independent and commercial basis. The banks’ independence is protected by...

Written Answers — Department of Finance: Help-To-Buy Scheme (26 Sep 2019)

Paschal Donohoe: The Help To Buy (HTB) incentive was announced in Budget 2017 and backdated to 19 July 2016. Revenue advise me that over the period 19 July 2016 to 30 August 2019 (the most recent month for which data are available), 14,722 claims for HTB were made on a national basis, of which 13,955 were approved. Out of the 14,722 claims made overall, 1,421 of the claims related to...

Written Answers — Department of Finance: Labour Market (26 Sep 2019)

Paschal Donohoe: The Minister for Housing, Planning and Local Government has agreed to take the part of the question pertaining to rents.  I will address the remaining part on the economic analysis of wage levels. My Department monitors developments across all aspects of Ireland’s economy on an ongoing basis.  With regard to the labour market, my Department conducts regular analysis on...

Written Answers — Department of Finance: Tax Code (26 Sep 2019)

Paschal Donohoe: I have received correspondence from the Deputy with regard to the treatment under Capital Acquisitions Tax (CAT) of couples who are married, cohabiting or in a civil partnership and the CAT treatment of those who do not have children. The correspondence, which is an external legal opinion sought by the Deputy, suggests changes to the current CAT rules and treatment. For the purposes...

Written Answers — Department of Finance: NAMA Operations (26 Sep 2019)

Paschal Donohoe: As part of its Annual Report for 2018, NAMA revised its projected surplus to be returned to the State upwards to €4 billion. The realisation of this surplus depends on the success of NAMA’s ongoing deleveraging and completion of its Dublin Docklands SDZ and residential funding programmes. Surplus funds may only be returned to the Central Fund once NAMA's debt has been...

Written Answers — Department of Finance: Brexit Issues (26 Sep 2019)

Paschal Donohoe: I will present Budget 2020 to Dáil Éireann on the 8th of October and, as agreed by Government, this will be based on the assumption - purely for budgetary purposes - of a disorderly exit of the UK from the European Union.  I have outlined on several occasions that, irrespective of the actual Brexit outcome, there will be no additional Budget for next year.  This...

Written Answers — Department of Finance: Tax Code (26 Sep 2019)

Paschal Donohoe: I am advised by Revenue that their review of the flat rate expenses regime is ongoing and that it is intended to have the review completed by the end of 2019.  The Deputy will be aware from my previous replies on this matter that Revenue confirmed an implementation date of 1 January 2020 in respect of any changes that may be made to the flat rate regime, to ensure they do not impact on...

Written Answers — Department of Finance: International Programmes (26 Sep 2019)

Paschal Donohoe: The flows of illicit capital out of developing countries represent diversions of resources from their most efficient uses in developing economies and are likely to adversely impact domestic resource mobilization and hamper sustainable economic growth. Ireland’s new international development policy ‘A Better World’ commits the Irish government to strengthening domestic...

Written Answers — Department of Finance: Mortgage Book Sales (26 Sep 2019)

Paschal Donohoe: The Deputy will be aware that the reduction in the level of non-performing loans, or NPLs, across European banks is a major priority for the banking regulator, the SSM. The Irish banks have made huge progress in this regard since the height of the crisis. According to the Central Bank of Ireland, the average NPL ratio of the domestic Irish banks was 7.0% at end-June 2019 having stood at more...

Written Answers — Department of Finance: Budget Submissions (26 Sep 2019)

Paschal Donohoe: My department has so far received in excess of 250 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that a submission from the Association referred to has been received. However, as the Deputy will be aware, it is not the practice of the Minister for...

Written Answers — Department of Finance: Carbon Tax Implementation (26 Sep 2019)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Ministerial Meetings (26 Sep 2019)

Paschal Donohoe: I wish to advise the Deputy that due to the level of detail being requested in the question, it is not possible to provide acurately the information sought in the time available for reply. I have therefore instructed my officials to contact the Deputy's office with a view to providing the information requested, where possible, through alternative means.

Written Answers — Department of Finance: Economic Growth (26 Sep 2019)

Paschal Donohoe: On the back of another strong year for the economy in 2018, growth in the first half of this year has moderated but remains positive with GDP growth of 6 ½ percent in year-on-year terms. Indeed as a barometer of how well our economy is performing, there is no story more positive than the one emanating from our labour market. The strong growth in employment over the last number of years...

Written Answers — Department of Finance: Economic Growth (26 Sep 2019)

Paschal Donohoe: As published in the Stability Programme Update 2019, my Department has forecast GDP growth of 3.9 per cent this year and 3.3 per cent in 2020. This growth is expected to be broad based, with both domestic demand and net exports making positive contributions. Indeed, modified domestic demand is forecast to grow by 4.0 per cent this year and by 3.3 per cent next year. Indeed as a barometer...

Written Answers — Department of Finance: Brexit Supports (26 Sep 2019)

Paschal Donohoe: The Department of Finance has been to the forefront in assessing the impact of Brexit on our economy, commissioning and publishing a number of studies, both before and following the referendum. In addition, regular updates of my Department’s Macro-Economic forecasts take account of the impact of Brexit. The UK is one of Ireland’s most important trading partners. In 2017 the...