Results 18,181-18,200 of 32,864 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: The only reason we have not made a decision beyond that is that it is a consequence of the budgetary process. If we make a decision on the provision of more social and affordable homes and home hubs, we have to make a resource decision on it and that is being done at the moment in the budget. It is not complete yet. If we were to make such a decision, that would then change the housing...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I think there is a balance that we have to get right. What the Irish Fiscal Advisory Council noted about this is interesting. It stated that there is a degree to which, if house-building goes beyond a certain level in a certain period, it can pose a risk to the economy. Against that, there are two things. First, the lack of housing at a certain level also poses challenges for businesses...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: It has. The chairman of the Irish Fiscal Advisory Council, Seamus Coffey, has always been consistent in making the point that we could get to a level of house-building that could itself pose a risk to the economy. I do not believe we are at that point yet. As already stated, the social consequences of the right number of homes being available are immense. I have to respond to that. If we...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: My intention is unchanged from what I said in the summer economic statement in respect of seed funding of €1.5 billion and additional funding of €500 million. The engagement I have had with the European Union and the Commission has been very positive.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I think they would be happy with the triggers we have set out in respect of how that funding would be accessed; they currently understand the rationale for it. There is flexibility within the Stability and Growth Pact regarding the kind of conditions the economy could develop that would allow the release of funding. The Commission would see the rainy day fund - I know there are differing...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I will answer the first part of the Deputy's question and I might then ask him to clarify the second part. On the criteria under which funding could be accessed, the terminology they use is "severe economic shocks" or natural disasters. It would be up to us to be able to define what they are. I have proposed that this should be a Cabinet decision but also that it should be subject to...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: No. I would have to raise revenue in order to do that.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: No.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: That is it.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I have been impressed by the cases that have been put forward by both sides of the debate. The protocol on tax strategy group papers is that they are views of the Department rather than of the Minister. They inform choices I, as Minister, make. Clearly, I have also met representatives of the Irish hospitality and accommodation sectors who hold a diametrically opposing view. As a former...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: Any changes we make will be sustainable, affordable and in line with the kind of changes we made last year. Deputy Broughan began to outline what I am planning to do with expenditure, but if he looks at what I am doing, he will see that the key driver for our expenditure growth for next year is investment in capital expenditure: hospitals, schools, and homes. I think that the Deputy will...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I will be making reference on budget day to where we are with regard to equality proofing and equality budgeting. I would manage the Deputy's expectations, however, by saying that we will not yet be in a place where we can extend this approach to all Government expenditure. We are working on equality proofing six specific areas: education, business, transport, culture, health, and children...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: In response to the Deputy's question, I have should have said that we do our own SWITCH model internally and we look at the distributional consequences of the decisions we make. It is fair to say that this model is not at the level of sophistication of the model published by the ESRI, but the ESRI is the leader in SWITCH analyses, most particularly the recently retired Professor Tim Callan....

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I do not think the Deputy is reckless and profligate.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: He put forward costed ideas on the funding of expenditure. My view is that the proposals he put forward regarding how he would pay for that expenditure would ruin the economy. He is not being profligate, but the ways he has of paying for these policies would devastate job creation and retention in Ireland. That is different from being profligate. To deal with the questions the Deputy puts...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: We are using leasing and RAS programmes as social housing output builds to the point we want it to get to. What is the alternative? Does Deputy Boyd Barrett think it would be tenable for me to say that while homes are being built, we will not provide support to people who need it? That would be wrong. While we are getting our social housing output up to where we need it, we are using...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I do not have an answer in front of me on section 110.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: The Deputy moved quickly to where we are on a financial transactions tax but from my recollection of what he said to me, if the information on section 110 is available, I do not have it to hand. If it is available, I will get it and send it over to the Deputy.

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: I am pleased to be able to tell the Deputy that sales of Irish food, drink and agricultural products generally have increased by 6% since last year. Amid the changes we are seeing, the industry continues to do well. On future supports I might put against it, that will be the outcome of the budgetary process which I am in the middle of. I can point out to the Deputy what I have already...

Committee on Budgetary Oversight: Ex-ante Scrutiny of Budget 2019: Minister for Finance (26 Sep 2018)

Paschal Donohoe: On Brexit, will be as prepared as we can be for dealing with the different developments that may occur next year. As somebody who is involved in the discussions on Brexit, I respectfully take a different view from the Deputy. While we may reach a point at which we will need to articulate what we will do if certain developments arise, it would not be helpful to do so now. On the VAT rate,...