Results 17,781-17,800 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Staff Data (25 Oct 2018)

Paschal Donohoe: I wish to inform the Deputy that the breakdown of staff in the Department of Finance at end September 2018 is shown, as Wholetime Equivalents (WTE) in the table. Secretary General 1 Assistant Secretary 6 Principal Officer 26.90 Assistant Principal 71.60 Administrative Officer 69.80 Higher Executive Officer 20.63 Executive Officer 38.30 Clerical Officer 55.33 Service...

Written Answers — Department of Finance: Tax Data (25 Oct 2018)

Paschal Donohoe: I am advised by the Revenue Commissioners that the available information in respect of Capital Gains Tax (CGT) on the sale of company shares is the total amount of consideration received by individual taxpayers in respect of the sale of any quoted or unquoted shares. Consideration is the gross amount before base cost, reliefs, personal exemption and losses are deducted to arrive...

Written Answers — Department of Finance: Loan Books Purchasers (25 Oct 2018)

Paschal Donohoe: I have been advised by the Central Bank of Ireland that when a consumer takes out a loan from a regulated lender (“the original lender”) it is subject to all the relevant Irish and EU consumer protections. Most loan agreements include a clause that allows the original lender to sell the loan on to another firm. When a loan is sold on to another regulated entity, the relevant...

Written Answers — Department of Finance: Electric Vehicle Grants (25 Oct 2018)

Paschal Donohoe: I extended the benefit-in-kind exemption for electric vehicles until 31 December 2021 to support policies to reduce carbon emissions in the transport sector. This forms part of a broader series of measures to support the uptake of electric vehicles, including VRT relief of up to €5,000, an SEAI grant of up to €5,000, very low motor tax of €120 per annum, 50% discount...

Written Answers — Department of Finance: Budget 2019 (25 Oct 2018)

Paschal Donohoe: Table 9 of the Economic and Fiscal Outlook sets out the impact of the various taxation and expenditure measures introduced in Budget 2019 on next year’s fiscal position. These have a positive short-run impact upon aggregate demand, which in turn generates taxation revenue. The additional tax revenues or ‘buoyancy’ arising from these second-round effects is estimated to be...

Written Answers — Department of Finance: Fiscal Policy (25 Oct 2018)

Paschal Donohoe: At present, the fiscal rules - both the structural balance rule and, especially, the expenditure benchmark rule - are not well-suited to guide budgetary policy, given our position in the economic cycle.  I highlighted this in the Summer Economic Statement and I note that the Irish Fiscal Advisory Council, in its pre-Budget statement, also highlighted this issue.  ...

Written Answers — Department of Finance: Financial Services Regulation (25 Oct 2018)

Paschal Donohoe: The Investment Funds Industry has been a successful and significant element of the Irish financial services landscape for many years.  This success has been underpinned by various periodic relevant changes in the legislative landscape that have made Ireland an attractive domicile for promoters in Asia, across Europe, the U.S., and further afield. This success has also benefitted from the...

Written Answers — Department of Finance: Credit Union Services (25 Oct 2018)

Paschal Donohoe: The Credit Union Act, 1997 (1997 Act) sets out the services that a credit union may provide to its members. In addition, the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 (2016 Regulations) provides for services exempt from additional services requirements. Where a credit union wishes to provide services to its members, other than those services that are provided for under...

Written Answers — Department of Finance: Departmental Budgets (25 Oct 2018)

Paschal Donohoe: I propose to take Questions Nos. 98 and 99 together. My Department received a Capital Allocation of €1,890,000 in the 2019 Estimates. Due to changes in the programme structure for 2019 it has been decided to allocate certain support costs such as IT and Office Premises Costs on a 50:50 basis to my Department’s two remaining programmes. As such the Capital Allocation...

Written Answers — Department of Finance: Departmental Budgets (25 Oct 2018)

Paschal Donohoe: I am advised by Revenue that continued investment in information and communications technology (ICT) has been a major driver of productivity growth in Revenue, as well as enabling better service levels for the public.  Every year, Revenue needs to develop and implement a series of urgent ICT projects that ensure Revenue’s ICT infrastructure can support budgetary and legislative...

Written Answers — Department of Finance: Banking Sector (25 Oct 2018)

Paschal Donohoe: As the Deputy will be aware, my Department and the Department of Rural and Community Development published a Report on Local Public Banking at the beginning of July of this year.  The Report concludes that there is not a compelling case for the State to use Exchequer funds to establish a new local public banking system.  However, as set out in the Report on Local...

Written Answers — Department of Finance: Inflationary Pressures (25 Oct 2018)

Paschal Donohoe: For the first nine months of the year, inflation as measured by the Harmonised Index of Consumer Prices (HICP) averaged just 0.7 per cent on an annual basis. House price inflation is not included explicitly in the calculation of the general level of inflation. However, accommodation costs are reflected in the HICP through rent costs which increased by 5.8 per cent in the year to September...

Written Answers — Department of Finance: Brexit Issues (25 Oct 2018)

Paschal Donohoe: The Government is fully aware of the scale of the political, economic and diplomatic challenge posed by Brexit. It has been clear and consistent about Ireland’s priorities:  minimising the impact on trade and the economy; protecting the Northern Ireland Peace Process; maintaining the Common Travel Area; and influencing the future of the European Union. Over recent years, Ireland...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (25 Oct 2018)

Paschal Donohoe: A key priority for the Government and the Central Bank is ensuring that the interests of consumers of financial services are protected.  A key element of the Central Bank’s role is ensuring that the consumer protection regulatory framework is fit for purpose and ensures that consumers best interests are protected. Within the remit of the Central Bank’s responsibilities...

Written Answers — Department of Finance: Brexit Issues (25 Oct 2018)

Paschal Donohoe: There have been a number of studies of the economic impact of Brexit, a number by my Department, some in conjunction with the ESRI. Recent analysis in an OECD staff working paper found that the boost to the Irish economy from additional Foreign Direct Investment would be modest with a 0.1 per cent increase in GDP compared to a no Brexit scenario. The Government is taking the following...

Written Answers — Department of Finance: Fiscal Policy (25 Oct 2018)

Paschal Donohoe: Against the potential challenges we face it is imperative to boost the resilience of the Irish economy in order to minimise – in so far as is possible – any future disruption brought on by potential international developments, including the UK’s departure from the European Union. This is why eliminating the budgetary deficit forms a key part of the Government’s...

Written Answers — Department of Finance: Housing Issues (25 Oct 2018)

Paschal Donohoe: The provision of affordable and local authority housing is a matter for my colleague the Minister for Housing, Planning and Local Government. Governor Lane addressed the issue that the Deputy is referring to in a pre-Budget letter to me on 3 August 2018.  In his concluding paragraph, he stated, “Finally, the additional spending pressures associated with an increase in...

Written Answers — Department of Finance: Household Savings Rate (25 Oct 2018)

Paschal Donohoe: The Central Bank publishes quarterly statistics on the growth in household deposits. The latest figures show that in June 2018 household deposits increased by 3.4 per cent on an annual basis. The growth in household deposits reflects our strong and growing economy, lower unemployment and wage growth. This increase has occurred during a period of very low deposit rates. The ECB has...

Written Answers — Department of Finance: Household Savings Rate (25 Oct 2018)

Paschal Donohoe: I am informed by the Central Bank that it publishes monthly data on the total household deposits (as distinct from savings) with financial institutions (banks and credit unions) in Table A11.1 (available at the following link: The data show that since January 2009 household deposits declined from €98 billion to reach a low of €91 billion in November 2011, and...

Written Answers — Department of Finance: House Prices (25 Oct 2018)

Paschal Donohoe: The Government’s primary response to mitigating house price inflation is to increase supply. ‘Rebuilding Ireland: An Action Plan for Housing and Homelessness’, which is the primary responsibility of my colleague the Minister for Housing, Planning and Local Government, sets out a comprehensive package of actionable measures designed to address the ongoing structural...