Results 14,661-14,680 of 32,569 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Central Bank of Ireland Supervision (22 May 2019)

Paschal Donohoe: Data protection issues are a matter for the Data Protection Commission rather than the Central Bank of Ireland, and as such are in the remit of my colleague, the Minister for Justice and Equality.  However, Section 4.13(e) of the Consumer Protection Code 2012 provides that, in its terms of business, a regulated entity must provide a summary of the regulated entity’s policy in...

Written Answers — Department of Public Expenditure and Reform: Public Expenditure Data (22 May 2019)

Paschal Donohoe: Expenditure Report 2019 sets out the revised baseline for current expenditure out to 2021 after taking account a number of known pre-commitments. Inclusive in this are estimates of certain demographic pressures in areas of Health, Social Protection and Education. An allocation of an additional €0.45 billion is set out for these measures in both 2020 and 2021. These allocations are...

Written Answers — Department of Finance: Insurance Costs (21 May 2019)

Paschal Donohoe: At the outset it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they...

Written Answers — Department of Finance: National Broadband Plan Expenditure (21 May 2019)

Paschal Donohoe: The Government's decision to proceed with the National Broadband Plan (NBP) was taken on the basis that additional expenditure required beyond that allocated within the National Development Plan (NDP) framework will be funded by future revenues and will accordingly not have funding repercussions for other planned projects within the NDP. Based on preliminary assessments, current...

Written Answers — Department of Finance: Connectivity Fund (21 May 2019)

Paschal Donohoe: The proceeds of the sale of the state's shareholding in Aer Lingus have been used to establish the Connectivity Fund which is managed by the Ireland Strategic Investment Fund (ISIF). The Connectivity Fund is being invested on a commercial basis as a sub portfolio of the ISIF fund, and consistent with the overall ISIF double bottom line mandate i.e. investing for both commercial return and...

Written Answers — Department of Finance: Insurance Coverage (21 May 2019)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is...

Written Answers — Department of Finance: Tax Data (21 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 137 to 145, inclusive, together. I refer the Deputy to the Income Tax Reform Plan which was published by my Department in 2016 and which discussed tapering of tax credits. As this report made clear, there are a number of technical issues and policy issues which would need to be addressed in order to achieve a tapered withdrawal of income tax credits,...

Written Answers — Department of Finance: NAMA Operations (21 May 2019)

Paschal Donohoe: National Asset Residential Property Services DAC (NARPS) is NAMA’s social housing special purpose vehicle (SPV) which has provided over 1,300 new units for social housing. NARPS operates by purchasing suitable properties for social housing from NAMA debtors and borrowers and then leasing onwards these properties to Local Authorities and Approved Housing Bodies, who then forward lease...

Written Answers — Department of Finance: Tax Code (21 May 2019)

Paschal Donohoe: I am advised by Revenue that there is no statutory definition of employment or self-employment in tax law.  In general, an individual is an employee if he or she is directed by a person on how, when and where to work, has set working hours, has no personal financial risk relating to the work, receives a fixed wage, supplies labour only and cannot subcontract the work. The question of...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (21 May 2019)

Paschal Donohoe: I have been advised by the Central Bank of Ireland that there are requirements in the Code of Conduct on Mortgage Arrears (CCMA) relating to the information which must be provided to borrowers about legal costs.  These are as follows: - Under Provision 14 of the CCMA, a lender must prepare and make available to borrowers an information booklet with details of its...

Written Answers — Department of Finance: Insurance Costs (21 May 2019)

Paschal Donohoe: I am aware of particular cases whereby there have been increases in insurance premiums affecting particular special needs schools.  The Deputy will appreciate however that I am not able to comment on individual cases, as there may be factors relating to the case that I am not privy to, such as a change in the insurance policy that has led to an increase in the price, the...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Data (21 May 2019)

Paschal Donohoe: S477B of the Taxes Consolidation Act 1997 provides for the Home Renovation Incentive (HRI), which terminated in accordance with its sunset clause on 31 December 2018. With regard to the specific case raised by the Deputy, I am advised by Revenue that it has reviewed the person’s eligibility for HRI and, having considered the issues involved, is satisfied that she qualifies...

Written Answers — Department of Finance: Home Building Finance Ireland Establishment (21 May 2019)

Paschal Donohoe: Home Building Finance Ireland (HBFI) was established in December 2018 to lend money to small and medium sized builders and developers for commercially viable residential developments, particularly those situated outside the State's major urban centres. HBFI has been provided with access to €750 million of funding from the Irish Strategic Investment fund, with which it is expected to...

Written Answers — Department of Finance: Tax Credits (21 May 2019)

Paschal Donohoe: On 29 April 2019 my Department launched a Public Consultation on the Research and Development Tax Credit, which is available at the following link: . The Department of Finance’s October 2014 “Report on Tax Expenditures” set out Guidelines for best practice in ex ante and ex post evaluation of tax expenditures. In line with those guidelines, a review of the research and...

Written Answers — Department of Finance: Insurance Costs (21 May 2019)

Paschal Donohoe: Both I and the Minister of State for Financial Services and Insurance, Mr. Michael D’Arcy T.D., are very conscious of the difficulties that the cost and availability of insurance are having on many businesses and community groups in this country.  The Deputy should note that there is no policy or legislative ‘silver bullet’ to decrease the cost of insurance. ...

Written Answers — Department of Finance: Property Tax Data (21 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 154, 162 and 163 together. I am advised by Revenue that as Local Property Tax (LPT) is forecast to collect €470 million in 2019, these receipts would be lost if the tax was abolished. Regarding Question 21615/19, a residential property is liable for LPT if it is suitable for use as a dwelling, regardless of whether it is occupied or vacant....

Written Answers — Department of Finance: Tax Data (21 May 2019)

Paschal Donohoe: I am advised by Revenue that a Ready Reckoner, which shows the estimated tax yield that would arise from increases in Tobacco Products Tax, is published on the Revenue website at the following link: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf.

Written Answers — Department of Finance: Mortgage Interest Relief Data (21 May 2019)

Paschal Donohoe: It is assumed the Deputy is referring to mortgage interest relief for persons with a qualifying mortgage loan on a principal private residence. This relief is only available on a tapered basis for loans taken out between 2004 and 2012 and will end on 31 December 2020. I am advised by Revenue that the estimated cost of the relief for 2019 and 2020 is €78m and €37m respectively....

Written Answers — Department of Finance: Tax Reliefs Data (21 May 2019)

Paschal Donohoe: Tax relief on trade union subscriptions was discontinued in 2011. I am advised by Revenue that there are no current data available from tax returns on the number of taxpayers with union subscriptions, the cost of individual union subscriptions, nor the ability of taxpayers to absorb the credit. Therefore, there is no basis for Revenue to estimate a cost for this measure. The cost...

Written Answers — Department of Finance: Tax Credits (21 May 2019)

Paschal Donohoe: I am advised by Revenue that estimated costs for increases to the Earned Income Credit are available on page 6 of the Revenue Ready Reckoner, which is available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf. Amounts other than those shown can be extrapolated using a straight line or pro-rata calculation.  On that basis, the cost of...