Results 14,381-14,400 of 32,640 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2019)

Paschal Donohoe: The risks posed by an external shock to our economy have been consistently highlighted for some time by both myself and my Department. These risks are being managed by building-up our fiscal capacity through broadening our tax base, debt reduction, targeting improvement in the general government balance, and establishing the Rainy Day Fund. The tax base has been...

Written Answers — Department of Finance: Licensed Moneylenders (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 47 and 70 together. My Department recently launched a public consultation process seeking views on capping the cost of licensed moneylenders and other regulatory matters in relation to moneylending. The consultation paper is available at . Deputies will be aware of the report by the Centre for Co-operative Studies, University College Cork entitled...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2019)

Paschal Donohoe: I am very conscious of the difficulties that the cost and availability of insurance are having on many businesses, charities, community groups, sporting clubs and other groups in this country and can understand the frustration that many people have with the existing position.  Unfortunately, there is no single policy or legislative “silver bullet” to immediately stem or...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 49 and 102 together. I acknowledge the general problems faced by many small businesses, including hotels, in relation to the cost and availability of insurance as well as the frustrations that some may have with the pace of reform.  Unfortunately, there is no single policy or legislative “silver bullet” to immediately stem or reverse...

Written Answers — Department of Finance: Financial Services Sector (19 Jun 2019)

Paschal Donohoe: The employment target in Ireland for Finance is to reach 50,000 people in direct employment in the sector by 2025. That is a net increase of 5,000 above the target employment level set for the previous strategy, IFS2020. The targeted increase in employment set out in IFS2020 was 10,000. The target of an increase of 5,000 people in employment in international financial services reflects...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 51, 54, 55, 60, 68 and 71 together. I acknowledge the general problems across the country as a whole faced by many small businesses (including marts), community and voluntary groups, as well as other sectors such as street performers in relation to the cost and availability of insurance. I also appreciate that there is some frustration about the...

Written Answers — Department of Finance: Tax Code (19 Jun 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: Housing Policy (19 Jun 2019)

Paschal Donohoe: The key to resolving current issues, including affordable housing, in the housing market is increasing supply. This is why the Government is committed to increasing the supply of all types of housing including social, affordable and private. Institutional investors represent one aspect of the housing market and have a role in increasing supply, particularly the supply of urban...

Written Answers — Department of Finance: Tax Avoidance (19 Jun 2019)

Paschal Donohoe: The Deputy will be aware that the current proposals flow from earlier discussions at both OECD and EU level to address taxation issues arising from the growing digitalisation of the economy.  The OECD published a work plan on 31 May setting out the broad direction of travel for the period ahead. This work plan was endorsed by G20 Finance Ministers on 9 June and work will continue over...

Written Answers — Department of Finance: Tax Code (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 57 and 72 together. Ireland has been consistently successful over several decades in attracting leading multinationals to base here and given our high level of integration with the global economy, it is not altogether surprising that our corporation tax base has become concentrated, as it has been for a number of decades. Nonetheless, I would...

Written Answers — Department of Finance: Tax Code (19 Jun 2019)

Paschal Donohoe: I  can confirm that I and my Department continue to seek ways to broaden the tax base that do not run contrary to the growth focus of this Government. Certain measures have already been introduced which will ensure a continued broadening of the overall tax base. These include the introduction of the Universal Social Charge, the Local Property Tax and the Sugar Sweetened...

Written Answers — Department of Finance: Exchequer Payments (19 Jun 2019)

Paschal Donohoe: I am informed by the National Treasury Management Agency that Exchequer debt service costs in the first quarter of 2019 were just over €2 billion, a decline of 6.2% on the same period last year. They were also marginally below expectations. Exchequer debt service costs peaked in 2014 and have been falling since. The NTMA expects them to fall further this year and next, as...

Written Answers — Department of Finance: Brexit Preparations (19 Jun 2019)

Paschal Donohoe: The European Council in April 2019 agreed to an extension of the Article 50 process until 31 October 2019, following a request by Prime Minister May. The extension includes giving the UK flexibility to leave before that date should the Withdrawal Agreement be ratified.  The European Council decision made clear that the Withdrawal Agreement, including the backstop, cannot be...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (19 Jun 2019)

Paschal Donohoe: I am conscious of the difficulties that the absence of flood insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years.  However, the provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based...

Written Answers — Department of Finance: Motor Insurance Claims (19 Jun 2019)

Paschal Donohoe: My Department is currently working on developing legislative changes that would oblige insurance companies to inform policyholders of claims made against them. The objective of the proposal is to ensure that policyholders are informed as soon as possible after a claim against their policy is lodged and informed after a claim is settled. In addition, the proposal will seek to require insurers...

Written Answers — Department of Finance: Tax Agreements (19 Jun 2019)

Paschal Donohoe: I have been very clear that further change to the international tax framework is necessary to ensure that we reach a stable global consensus for how and where companies should be taxed.  A certain, stable, and globally agreed international tax framework is vital to facilitate cross border trade and investment.  In this regard I welcome the G20 Finance Ministers’...

Written Answers — Department of Finance: Corporation Tax Regime (19 Jun 2019)

Paschal Donohoe: On 28 May, the OECD Inclusive Framework on BEPS agreed a programme of work aimed at developing a consensus solution to the tax challenges arising from the digitalisation of the economy.  The work will be undertaken under the auspices of the OECD over the coming months, on a "without prejudice" basis. The work programme was published by the OECD on 31 May last and endorsed by G20...

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2019)

Paschal Donohoe: The public finances continue to perform well. In 2018, the General Government balance returned to a surplus for the first time in over a decade – a significant achievement. This followed a number of years of primary budget surpluses. Furthermore, the European Commission have stated that Ireland continues to be compliant with the fiscal rules. For this year and 2020, further surpluses...

Written Answers — Department of Finance: Illicit Trade in Fuel and Tobacco Products (19 Jun 2019)

Paschal Donohoe: The threat that fuel fraud and the illicit tobacco trade pose to legitimate business, to consumers and the Exchequer is clear and I am assured by Revenue that combatting such criminality continues to be a priority for them. Steps taken by Revenue to combat the illegal fuel trade include the introduction of stringent supply chain controls and reporting requirements, and a rigorous...

Written Answers — Department of Finance: Tax Compliance (19 Jun 2019)

Paschal Donohoe: Institutional investors represent one aspect of the property market and have an important role in increasing supply, particularly the supply of urban apartments. Notwithstanding this fact, the Government monitors the actions of investors in the market and has taken action when abuses have been identified.  The Deputy will be aware that action was taken in 2016 to address concerns...