Results 19,041-19,060 of 32,610 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Schemes (22 May 2018)

Paschal Donohoe: As the Deputy is aware the Single Supervisory Mechanism (SSM) has issued supplementary guidance in respect of the classification of Split Mortgages that has clarified its expectations in respect of the criteria to be met for classification of a Split Mortgage as performing.  This is currently being analysed by PTSB and will be assessed in conjunction with other options which may be...

Written Answers — Department of Finance: ERASMUS Programme (22 May 2018)

Paschal Donohoe: The European Investment Bank has advised my Department that The Erasmus + programme is not a loan but a guarantee offered on student loans to masters students. As an Erasmus programme, its focus is foreign students pursuing Erasmus studies abroad in specific Programme countries rather than domestic students. Currently the scheme is being made available through banks and...

Written Answers — Department of Finance: Tax Code (22 May 2018)

Paschal Donohoe: The basis for the current tax treatment of married couples derives from the Supreme Court decision in Murphy vs. Attorney General (1980). This decision was based on Article 41.3.1 of the Constitution where the State pledges to protect the institution of marriage. The decision held that it was contrary to the Constitution for a married couple, both of whom are working, to pay more tax than...

Written Answers — Department of Finance: Living Wage (22 May 2018)

Paschal Donohoe: As the Deputy is aware Government policy on banking remuneration has remained unchanged since the financial crisis. Extensive restrictions are in place, which, in summary, limit total remuneration for staff in AIB, Bank of Ireland and PTSB to €500,000 (excluding a standard pension contribution). Policy also dictates that bonuses and many other benefits cannot be paid to any staff....

Written Answers — Department of Finance: Departmental Expenditure (22 May 2018)

Paschal Donohoe: The Department of Finance continues to invest in staff development in order to supplement the skills and qualifications of the teams, through a combination of internal and external training, learning and development. The Department strives to improve learning and development in order to develop greater professional, technical, management and leadership skills.  Using the...

Written Answers — Department of Finance: Departmental Expenditure (22 May 2018)

Paschal Donohoe: The information requested by the Deputy for travel and subsistence expenses incurred by my department during 2017 is contained in the following table.  Sum of Trip Value Classification Total Domestic €82,413.74 EU €243,624.87 Rest of World €56,149.61 Grand Total €382,188.22

Written Answers — Department of Finance: Departmental Expenditure (22 May 2018)

Paschal Donohoe: The information requested by the Deputy for 2017 for consultancy services is contained in the following table. Supplier Amount Details William Fry 1,663,748 Legal Advice Arthur Cox 286,960 Legal advice Indecon 67,121 Professional Fees Behaviour & Attitudes 64,575 Credit Demand Survey (Recoupable) Reveal Data Corporation 15,867 eDiscovery – IT Consultancy Colm...

Written Answers — Department of Finance: VAT Exemptions (22 May 2018)

Paschal Donohoe: Mountain rescue services are treated in a similar manner to charities in that they are exempt from VAT under the EU VAT Directive. This means that they do not register for VAT and cannot recover VAT incurred on goods and services that they purchase. This non-entitlement to VAT deductibility is a general feature of VAT exemption. However, in Budget 2018 I announced a VAT...

Written Answers — Department of Finance: EU Regulations (22 May 2018)

Paschal Donohoe: The , which transposed the Mortgage Credit Directive into Irish law, applies to all relevant credit agreements that come into effect after 21 March 2016. While the Central Bank has not provided any formal guidance on the matter, part 10 of the Mortgage Credit Regulations provides that a consumer has a right to discharge fully or partially his or her obligations under a credit agreement prior...

Written Answers — Department of Finance: Revenue Documents (22 May 2018)

Paschal Donohoe: I am advised by Revenue that in the absence of the details of the specific case, it is not possible to be precise about a suggested approach to resolving this issue. However, where there may be a dispute between a taxpayer and his or her accountant, resolution of the dispute is not a matter in which Revenue has a role. Ultimately, the onus is on a taxpayer to ensure compliance with return...

Written Answers — Department of Finance: NAMA Property Construction (22 May 2018)

Paschal Donohoe: At the outset, I wish to advise the Deputy that NAMA does not own property. Instead NAMA acquired loans and its role is as a secured lender. NAMA-secured property continues to be owned and managed by the property owner, or receiver where one has been appointed. Where NAMA-secured lands have been targeted for the delivery of residential housing, the Deputy will be aware that...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As the Deputy is aware, in fulfilment of Recommendation 1 from the Report on the Cost of Motor Insurance, a protocol was agreed between Insurance Ireland and my Department which provides a list of reasons for large increases in motor insurance premiums. The content of the agreed document is available on the websites and the social media channels of the major motor insurance...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 144 and 145 together. The implementation of Recommendations 2 and 3 is being carried out by the Central Bank of Ireland. As Minister for Finance, I support the objective of the Recommendations which involve enhancing the information provided to consumers and improving their experience in taking out an insurance policy. On 9 November 2017,...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. I would like to clarify at the outset that it is possible for an insurance undertaking authorised in one member state to conduct business in another EU/EEA state either through: - establishing a branch operation in the host country and thus conducting business on a...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As the Deputy is aware, in fulfilment of Recommendation 6 from the Report on the Cost of Motor Insurance, a protocol was agreed between Insurance Ireland and the Department of Finance under which insurance companies have committed to accepting the driving experience returning emigrants gained while abroad, when the driver has had previous driving experience in Ireland. The guiding principle...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As the Deputy will recall, Recommendation 8 from the Report on the Cost of Motor Insurance requires that a protocol be put in place around the requirement for insurance providers to notify a policyholder of claims made against them. As Minister for Finance, I believe policyholders should of course be informed of a claim as soon as possible after it has been lodged. In...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: At the outset the Deputy should note that the Cost of Insurance Working Group’s starting position on insurance for small public service vehicles is that it was not possible for it to make a recommendation on pricing as this is primarily a commercial matter for insurers. It did however recognise that this sector serves a social as well as an economic purpose, particularly in rural...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: The Deputy will be aware that the Minister of State, with special responsibility for Financial Services and Insurance, Michael D'Arcy T.D., published the second Motor Insurance Key Information Report of the Cost of Insurance Working Group (the Working Group) on 11 May 2018. The Report is the second in a series of reports designed to address Recommendation 12 of the Cost of Insurance Working...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: Recommendation 13 of the Cost of Insurance Working Group recommended that the Department of Finance consider the feasibility of a longer term insurance claim-by-claim register. Two associated actions were recommended as part of this recommendation: - To establish a sub-group to consider the feasibility of a longer term claim by claim register by Q1 of 2018, and - To Report on the...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: Recommendation 21 of the Cost of Insurance Working Group Report calls for the Implementation of the Review of the Framework for Motor Insurance Compensation in Ireland. The Deputy will be aware that the Fifth Progress Update, published earlier this month, provided an update on the implementation of this Recommendation stating that the Department of Finance is continuing to work with the...