Results 14,401-14,420 of 32,640 for speaker:Paschal Donohoe

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

Paschal Donohoe: I have noted the assessment of the Stability Programme Update 2019 in the Irish Fiscal Advisory Council’s Fiscal Assessment Report. In keeping with established practice, I will issue a formal response to the Report in due course. The Council’s assessment of the primary budget balance highlights concerns over the risks of reliance on elevated corporation tax receipts and...

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

Paschal Donohoe: The European Commission Country Specific Recommendations for EU Member States form an integral part of the European Semester cycle of economic governance. The overall objective is to encourage the Member States to increase their growth potential by continuing to improve their economies and further strengthening their economic resilience. In this regard I welcome the publication of the...

Written Answers — Department of Finance: Central Bank of Ireland Staff (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 75, 77 and 79 together. The New Zealand State Services Commissioner is carrying out an investigation into the unauthorised access of New Zealand Budget material and the events surrounding it. I am not going to be drawn into speculating on a matter on which the New Zealand State Services Commissioner is currently compiling a report. The State Services...

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

Paschal Donohoe: In advance of Budget 2019, my Department commissioned the Economic and Social Research Institute to examine the environmental and economic impacts of increasing the Carbon Tax. This research examined how producers and consumers may react to increases in the Carbon Tax. The study estimated that increasing the Carbon Tax by €10 would lead to overall emissions...

Written Answers — Department of Finance: Credit Union Regulation (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 78 and 103 together. As the Deputy is aware, credit unions are regulated and supervised by the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions. Within his independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability,...

Written Answers — Department of Finance: Summer Economic Statement (19 Jun 2019)

Paschal Donohoe: I can confirm for the Deputy that the Summer Economic Statement (SES) 2019 will shortly be published and presented before the Oireachtas. The SES will set out the broad parameters for macroeconomic growth and the fiscal outlook as well as the constraints facing the economy over the medium term. The Government is currently targeting a headline surplus of 0.4 per cent of GDP next year....

Written Answers — Department of Finance: Budget Submissions (19 Jun 2019)

Paschal Donohoe: I can confirm that the pre-budget submission from the organisation in question is being considered by the relevant officials in the context of Budget and Finance Bill preparations. However, as the Deputy will be aware, it is not the practice of the Minister for Finance to discuss the details of measures which may be under consideration as part of the Budget and Finance Bill.

Written Answers — Department of Finance: Oireachtas Select Committee Recommendations (19 Jun 2019)

Paschal Donohoe: The Committee on Budgetary Oversight's report on Tax Expenditures was received in my office on 9 April this year. This report examines the current process by which the Department of Finance reviews and evaluates tax expenditures, and sets out the oversight role that the Committee can have in monitoring and scrutinising this process in future. It sets out four conclusions and makes eight...

Written Answers — Department of Finance: VAT Rate Application (19 Jun 2019)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the Directive, defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. The installation of defibrillators is also liable to VAT at the standard rate. I am advised by Revenue that generally, businesses that are...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (19 Jun 2019)

Paschal Donohoe: The Home Renovation Incentive (HRI) was introduced by Section 477B of the Taxes Consolidation Act 1997 in 2014. I currently have no plans to re-open the scheme which terminated in accordance with its sunset clause on 31 December 2018. Under my Department's Tax Expenditure Guidelines, the introduction of new tax incentive measures should only be considered in circumstances where there is...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman Remit (19 Jun 2019)

Paschal Donohoe: The Financial Services and Pensions Ombudsman may investigate complaints against "financial service providers”. This includes complaints against a regulated financial service provider within the meaning of section 2(1) of the Central Bank Act 1942. Under the 1942 Act, "regulated financial service provider" includes "a financial service provider whose business is subject to...

Written Answers — Department of Finance: Protected Disclosures Data (19 Jun 2019)

Paschal Donohoe: The Department of Finance has put in place a policy with related procedures for the making of Protected Disclosures, which have been developed in line with the Protected Disclosures Act, 2014. The Department’s policy and related procedures supports my Department’s strong commitment to ensuring that the culture and working environment of the Department encourages, facilitates...

Written Answers — Department of Finance: Revenue Commissioners Investigations (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 100 and 101 together. Section 1086 Taxes Consolidation Act, 1997, requires Revenue to publish Lists of Tax Defaulters, within three months of the end of each quarter in which agreed settlements are reached with taxpayers, or where Penalty Determinations are made by the Courts. The List is published in two parts as follows - Part 1: Persons, where the Court has...

Written Answers — Department of Finance: Economic Competitiveness (19 Jun 2019)

Paschal Donohoe: Overall our economy is in good shape and is expected to grow this year and next. Modified domestic demand, an underlying measure of growth in the economy, grew by 4.5 per cent for 2018 as a whole. One of the best barometers of the heath in the economy is the labour market. The strong growth in employment over the last number of years has continued into this year, with total employment...

Written Answers — Department of Finance: Economic Competitiveness (19 Jun 2019)

Paschal Donohoe: Overall our economy is in good shape, modified domestic demand, an underlying measure of growth in the economy, increased by 4.5 per cent for 2018 as a whole. Although growth in our economy is expected to moderate over the coming years, it is still expected to compare very favourably to other EU countries. The 2019 IMD World Competitiveness Yearbook recently ranked Ireland as the 2nd most...

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

Paschal Donohoe: I propose to take Questions Nos. 106, 108 and 109 together. As the Deputy will be aware, currently taxation matters at EU level, in particular tax directives, require the unanimous agreement of all Member States before they can be adopted. Taxation is one of the areas which remains subject to the subsidiarity principle and therefore within the gift of national parliaments. This means...

Written Answers — Department of Finance: Economic Growth (19 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 107 and 112 together. As published in the Stability Programme Update (SPU) 2019, my Department has forecast economic growth to moderate to a more sustainable rate of 3.9 per cent in 2019, and to continue at the broadly similar pace of 3.3 per cent for 2020. Although growth rates have moderated from 2018, they still compare very favourably to other EU, and...

Written Answers — Department of Finance: Mortgage Interest Rates (19 Jun 2019)

Paschal Donohoe: The latest data on Retail Interest Rates published by the Central Bank (which was released on 14 June 2019) show that the average interest rate in Ireland on all new mortgages agreed in April 2019 was 3.03%. This interest rate varied considerably across countries, with the average for the euro area being 1.70%. A link to the publication is below: The European Central Bank (ECB) sets monetary...

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

Paschal Donohoe: The Department of Finance published updated macroeconomic forecasts with the Stability Programme Update (SPU) in April. GDP is projected to expand by 3.9 per cent overall in 2019 and by 3.3 per cent in 2020. Growth at these levels ensures that Ireland is one of the fastest growing countries in Europe. Ireland’s strong economic performance has manifested itself in the labour market....

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

Paschal Donohoe: The Stability Programme Update 2019published by my Department in April, sets out the principal economic risks facing the Irish economy, along with an assessment of their relative likelihood and economic impact (see following table). The balance of risk is firmly tilted to the downside, both in the short-term and over the medium-term. The Irish economy is in an unusual position at present,...