Results 13,561-13,580 of 32,547 for speaker:Paschal Donohoe
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: Yes, in an orderly Brexit. I opted for a range because we are dealing with an unpredictable event. It will be important that, if we are dealing with the consequences of an event like this, we are able to establish a path for recovering our deficit back into a balanced position and an eventual surplus. We will have to do that nearer the time but there is significant unpredictability in...
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: It is, but the measures are only for dealing with a disorderly Brexit.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: Not yet, no.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: That is correct.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: I anticipate that part of the €2.8 billion will deal with normal Brexit measures that we have taken over the past three years. It is important to reiterate that, if a no-deal Brexit takes place, it may well be necessary to go beyond that, for example to deal with the consequences of more people needing unemployment benefit next year.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: It will be mostly the things that are demand-led that will have an effect. They will be demand-led but driven by rising unemployment and falling tax revenues. That will be the biggest constituent. There may well be a need to outline support measures for the economy that will also be included.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: We nearly have it done. We have been looking at two things, the first of which is putting in place a process to give us a view on the sustainability of corporation tax receipts. We are aiming to have that work done by next March. I think we have already discussed that issue here. Deputy Cowen asked if we could give an indication that it would be brought forward to get it done sooner....
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: In so far as we can, we will look to accommodate the effect of BEPS 1 in the corporation tax receipt forecasts included in our budget day publications. In terms of BEPS 2, we do not currently have enough detail available to us to be able to give a view on the impact on the different pillars and the collection of corporation tax.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: On the consequences of BEPS 1-----
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: I am not aware that the OECD is conducting country by country impact studies to assess what the effect of BEPS 1 could be in the collection of corporation tax. That is work we have to do.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: As the Deputy said, there is no single policy intervention. There is going to a big bang. I am well aware of the effects the issue is having business by business. In terms of what kind of work is happening at the moment, the Deputy will be aware of the work that the Minister of State, Deputy D'Arcy, is doing on the book of quantum. Recently the Minister of State met underwriters on this...
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: Because we are in the final stages of getting ready for a decision on signing the contract itself, most of that work is being led now and done by the Department of Communications, Climate Action and Environment. My Department will be involved in the final report on this issue that the Minister, Deputy Bruton, brings to Cabinet.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: No, we are not.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: At that point it will come back to my Department. We will look to see whether any of the actual figures that we have differ in any material way from the figures that were available to us when we made the decision to go ahead with the broadband process.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: Is the Deputy looking at page 26?
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: It shows that in a disorderly Brexit, we would have the ability to be back in a position of approximate balance by around 2023.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: I do not have the figures available to me now about the budget day packages underpinning that.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: That is correct.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: Yes.
- Committee on Budgetary Oversight: Pre-Budget Scrutiny: Minister for Finance (17 Sep 2019)
Paschal Donohoe: That is correct.