Results 15,801-15,820 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Brexit Issues (28 Feb 2019)

Paschal Donohoe: As matters stand, the timing and nature of Brexit remains uncertain. However, it is clear that all forms of Brexit will have a negative impact on the Irish economy. The more disorderly the UK’s exit is from the EU, the larger the economic impact will be. Further the implications for our economy will be disproportionate relative to those for the rest of the EU. The most negative impacts...

Written Answers — Department of Finance: VAT Rate Application (28 Feb 2019)

Paschal Donohoe: Irish VAT legislation is governed by the EU VAT Directive and in accordance with the VAT Directive any amount which a supplier is entitled to receive forms part of the taxable amount. Therefore, where a restaurant, hotel, etc. presents a bill for a meal or any other service, all charges included are liable to VAT. This includes an amount or percentage in respect of a service charge regardless...

Written Answers — Department of Finance: State Aid (28 Feb 2019)

Paschal Donohoe: The Government profoundly disagrees with the Commission’s analysis in the Apple State aid case. An appeal is therefore being brought before the European Courts. Such an appeal takes the form of an application to the General Court of the European Union, asking it to annul the Decision of the Commission. The Attorney General prepared the legal grounds in support of the annulment...

Written Answers — Department of Finance: Tracker Mortgage Examination Reports (28 Feb 2019)

Paschal Donohoe: The Central Bank of Ireland published its latest update on the Tracker Mortgage Examination on 4 February ()which indicated that:- - the number of affected customers stood at 39,800 at end-December, an increase of 1,400 since end-August 2018; - 97 per cent of verified affected customers have received their redress and compensation at end December 2018; - redress and compensation payments...

Written Answers — Department of Finance: Economic Competitiveness (28 Feb 2019)

Paschal Donohoe: Improvements in Ireland’s competitiveness have been at the cornerstone of the recovery in the Irish economy. Since 2008, the Central Bank’s real harmonised competitiveness indicator has improved by approximately 21 per cent. The restoration of competitiveness has been hard-won through improvements in productivity, along with wage and price moderation. Importantly, the...

Written Answers — Department of Finance: Motor Insurance Costs (28 Feb 2019)

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group was established in July 2016 and undertook an examination of the factors contributing to the increasing cost of insurance in order to identify what short, medium and long-term measures could be introduced to help reduce the cost of insurance for consumers and businesses. The initial focus of the Working Group was the issue of...

Written Answers — Department of Finance: Insurance Costs (28 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 27 and 42 together. As the Deputy is aware, the second phase of the Cost of Insurance Working Group (CIWG) project culminated in the publication in January 2018 of the Report on the Cost of Employer and Public Liability Insurance. The Report makes 15 recommendations with 29 associated actions, detailed in an Action Plan with agreed timelines for...

Written Answers — Department of Finance: Fitness and Probity Regime (28 Feb 2019)

Paschal Donohoe: Under the Central Bank Reform Act 2010, the Fitness and Probity Regime, provides the Central Bank with powers to ensure the fitness and probity of nominees to senior roles in regulated firms. The Bank has put in place a pre-approval process for persons who apply for relevant positions (Controlled Functions) in regulated firms, to ensure that they meet the required standards of fitness and...

Written Answers — Department of Finance: Banking Sector Staff (28 Feb 2019)

Paschal Donohoe: As part of the Irish Retail Banking Culture Report provided to me by the Central Bank in July 2018, Diversity and Inclusion Assessmentswere undertaken and each bank was instructed to submit an outcome-focused diversity strategy supported by an implementation plan, containing, at minimum, clear expectations, implementation targets and a range of measures of diversity. These plans are currently...

Written Answers — Department of Finance: Brexit Preparations (28 Feb 2019)

Paschal Donohoe: I am informed by Revenue that their preparations do not include any plans for infrastructure at the border with Northern Ireland and this is in line with the Government’s position that there will be no hard border on the island of Ireland. Revenue Chairman, Niall Cody, set out this position clearly when he and Revenue officials appeared before the Joint Committee on Finance, Public...

Written Answers — Department of Finance: Bank Codes of Conduct (28 Feb 2019)

Paschal Donohoe: The background to the issuing of the Code of Practice on the Transfer of Mortgages (the Code of Practice) by the Central Bank of Ireland in 1991 was that mortgage customers were offered free shares in their building society which gave them the right to vote on the conversions of building societies to public limited companies. Additionally, securitisations were becoming more prevalent during...

Written Answers — Department of Finance: NAMA Board (28 Feb 2019)

Paschal Donohoe: Section 25 of the NAMA Act provides that it is for the Minister for Finance to appoint the Chairperson of the Board of NAMA. This appointment may be made from amongst one of the existing ordinary members of the Board or the Minister may appoint a new member to assume the role of Chairperson. As currently constituted, there are seven members of the NAMA Board and two vacancies arising from...

Written Answers — Department of Finance: Motor Insurance Costs (28 Feb 2019)

Paschal Donohoe: Both I and the Minister of State for Financial Services and Insurance, Mr. Michael D’Arcy T.D., are aware of problems experienced by some consumers in respect of insuring older vehicles. However, 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...

Written Answers — Department of Finance: Insurance Costs (28 Feb 2019)

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group was established in July 2016 and undertook an examination of the factors contributing to the increasing cost of insurance in order to identify what short, medium and long-term measures could be introduced to help reduce the cost of insurance for consumers and businesses. Its Report on the Cost of Motor Insurance was published in...

Written Answers — Department of Finance: Financial Services Sector (28 Feb 2019)

Paschal Donohoe: Since May 2018, my officials working to the direction of my colleague Michael D’Arcy, the Minister of State for Financial Services and Insurance, have completed a substantial body of work to prepare a successor strategy to the current strategy for the development of the international financial services sector, ‘IFS2020’ which is in its final year. Research was carried...

Written Answers — Department of Finance: Tax Code (28 Feb 2019)

Paschal Donohoe: The Deputy will be aware that on 22 February 2019, the Government published the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2019 as part of its 'no deal' preparations. The Bill, made up of 15 Parts, prioritises those issues that need to be addressed urgently through primary legislation to prepare for the impact of a 'no deal' Brexit. The Government...

Written Answers — Department of Finance: Financial Services Sector (28 Feb 2019)

Paschal Donohoe: The Government’s Strategy to develop the international financial services sector, ‘IFS2020’, was launched in 2015. Ireland has, at the end of 2018, over 44,000 people directly employed in the IFS sector. The growth in the sector under the IFS2020 Strategy has not been limited to Dublin. Over a third of the jobs are located in other areas of the country. The sector has a...

Written Answers — Department of Finance: Tax Collection (28 Feb 2019)

Paschal Donohoe: I am aware of negative publicity surrounding the mine referenced by the Deputy, however, I believe that this matter is best addressed by the Tánaiste and Minister for Foreign Affairs and Trade, Mr. Simon Coveney T.D. I am aware that Minister Coveney has addressed this issue in a recent PQ (Ref No: 3893/19), on 29 January 2019. The full text of that response is available online at: ....

Written Answers — Department of Finance: Tax Code (28 Feb 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 BEPS Inclusive Framework was given a clear mandate by the G20 in March 2017 to develop this work, which led to the publication of an Interim Report on the Tax Challenges Arising from...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman (28 Feb 2019)

Paschal Donohoe: Under section 15(4) of the Financial Services and Pensions Ombudsman Act 2017 the Ombudsman may appoint staff to his office and determine their duties with the approval of the Minister for Finance and the consent of the Minister for Public Expenditure and Reform. The Financial Services and Pensions Ombudsman (FSPO) commissioned a Workforce Plan 2019-2023 and submitted the Plan to my...