Results 19,021-19,040 of 34,135 for speaker:Paschal Donohoe

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

Paschal Donohoe: The Credit Union Advisory Committee (CUAC) is a committee established under section 180 of the Credit Union Act 1997. The function of the CUAC is to advise the Minister for Finance and such other persons as I think fit, in relation to the improvement of the management of Credit Unions, the protection of the interests of members and creditors of credit unions and other matters relating to...

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

Paschal Donohoe: I propose to take Questions Nos. 32 and 58 together. The Government has a clear policy to support the strategic growth and development of credit unions delivering the comprehensive recommendations set out in the Commission on Credit Unions Report and the Credit Union Advisory Committee (CUAC) report in 2016, both of which involved extensive stakeholder engagement. CUAC remains an...

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

Paschal Donohoe: The Deputy will be aware that I, in my role as Minister for Finance, cannot stop loan sales, even by the banks in which the State has a shareholding. The same stipulation applied to my predecessor. Decisions relating to loan sales, including the composition of loans included, are the responsibility of the Board and management of the banks which must be run on an independent and commercial...

Written Answers — Department of Finance: Illicit Trade in Fuel and Tobacco Products (25 Oct 2018)

Paschal Donohoe: I propose to take Questions Nos. 34 and 57 together. The threat that fuel fraud, the illicit alcohol and illicit tobacco trades pose to legitimate business, to consumers and the Exchequer is clear and I am assured by Revenue that combatting such activity and criminality continues to be a priority for them. Steps taken by Revenue to combat the illegal fuel trade include the...

Written Answers — Department of Finance: Social and Affordable Housing Provision (25 Oct 2018)

Paschal Donohoe: In line with “Rebuilding Ireland” commitments, the Ireland Strategic Investment Fund (ISIF) and a number of key Government Departments examined the feasibility of establishing a funding vehicle, in conjunction with the private sector to facilitate investment in social and affordable housing. The objective was to create an 'off-balance sheet' mechanism which could facilitate...

Written Answers — Department of Finance: Insurance Costs (25 Oct 2018)

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group undertook an examination of the factors contributing to the 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 rising motor insurance premiums and the Report on...

Written Answers — Department of Finance: Ministerial Meetings (25 Oct 2018)

Paschal Donohoe: As the Deputy will be aware, I meet with a wide range of public and private representative bodies and companies from time to time, to discuss relevant developments and matters of interest. This engagement with stakeholders is a legitimate and important part of the development of public policy. The particular meetings to which the Deputy refers, that I and officials in my Department...

Written Answers — Department of Finance: Life Insurance Policies (25 Oct 2018)

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 Code (25 Oct 2018)

Paschal Donohoe: The move to real-time reporting is the most significant change to the PAYE system since its introduction more than fifty years ago. The modernisation programme will bring improved accuracy and transparency for all stakeholders, including employers, employees and Revenue, while also significantly streamlining the entire administration process. To that end, the introduction of PAYE...

Written Answers — Department of Finance: NAMA Operations (25 Oct 2018)

Paschal Donohoe: NAMA has a well-established overriding commercial mandate to recoup the best return for the Irish taxpayer. However, that does not mean that NAMA does not carry out activities, such as facilitating the delivery of residential and social housing, which are entirely consistent with its existing purpose and objectives. NAMA is already making a significant contribution to the supply of...

Written Answers — Department of Finance: Fuel Rebate Scheme (25 Oct 2018)

Paschal Donohoe: I am well aware of the threat Brexit poses to every sector of the economy, including the haulage industry. This week I met with the Irish Road Haulage Association and discussed the implications of Brexit. I can confirm that I will continue to meet with industry and listen to their concerns. Co-ordination of the whole-of-Government response to Brexit is being taken forward through the...

Written Answers — Department of Finance: European Investment Bank Loans (25 Oct 2018)

Paschal Donohoe: I assume that a “low interest EU Loan” refers to loans provided by the European Investment Bank (EIB), the bank of the European Union which is owned by the EU Member States. Every advanced economy borrows from the international capital markets to finance its obligations and the services which its citizens require. In Ireland, the recently published Department of Finance...

Written Answers — Department of Finance: Tracker Mortgage Examination (25 Oct 2018)

Paschal Donohoe: The Central Bank’s Tracker Examination is focused on ensuring that lenders provide fair outcomes for all customers impacted by tracker related failings. The Examination requires all lenders, which offered tracker interest rate mortgages to their customers, to review all mortgage accounts, including accounts in arrears, to identify any tracker related failings both from a contractual...

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

Paschal Donohoe: I propose to take Questions Nos. 47 and 54 together. The report of the review of the LPT is currently being finalised in conjunction with the Departments of the Taoiseach, Public Expenditure and Reform, Housing Planning and Local Government, and the Office of the Revenue Commissioners. I will of course, carefully consider the conclusions and recommendations of the report when it is presented...

Written Answers — Department of Finance: Motor Insurance Regulation (25 Oct 2018)

Paschal Donohoe: At the outset, I would like to clarify that it is possible for all motorists including commercial drivers such as taxi drivers to buy insurance from insurers authorised in other EU states as part of the Single Market. This can be done through such insurers either: - establishing a branch operation in the host country and thus conducting business on a ‘freedom of...

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

Paschal Donohoe: Deputies will be aware that Government policy on banking remuneration has remained unchanged since the financial crisis. Extensive restrictions are in place and these are not simply confined to a handful of senior bankers whose pay is restricted by the €500,000 pay cap (excluding a standard pension contribution). These affect c.23,000 workers across the three banks in which the State...

Written Answers — Department of Finance: NAMA Social Housing Provision (25 Oct 2018)

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020. The Agency announced in October 2017 that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State and since April 2018 it has commenced the redemption of its €1.6bn in subordinated debt. However, notwithstanding the successful achievement of...

Written Answers — Department of Finance: EU Meetings (25 Oct 2018)

Paschal Donohoe: The Deputy will be aware that on 21 March 2018 the European Commission published two proposed Directives which seek to tax certain digital activities differently within the EU. The first, an ‘interim’ solution for a 3% levy on turnover from certain digital service activities. The second, ‘comprehensive solution’ requires an overhaul of international...

Written Answers — Department of Finance: Motor Insurance Claims (25 Oct 2018)

Paschal Donohoe: Setanta Insurance was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that the Insurance (Amendment) Act 2018 (Act 21 of 2018) was signed into law in July this year. The Act, inter alia, provides for the payment of 100% of the...

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

Paschal Donohoe: I propose to take Questions Nos. 55 and 101 together. The Key Employee Engagement Programme, KEEP, came into effect on 1 January this year to help SMEs to attract and retain employees in our highly competitive labour market. I am advised by Revenue that details of the costs and numbers availing of this programme will only be available once the relevant employer tax returns for 2018 have...