Results 19,861-19,880 of 32,726 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Central Bank of Ireland (27 Mar 2018)

Paschal Donohoe: As communicated in the Central Bank’s Strategic Plan (2016 – 2018), the Central Bank announced that it intended to review its strategy for banknote production. The purpose of this review was to determine how the Central Bank meets its Eurosystem obligations for its allocation of annual Euro banknote production. The review is completed but a decision has not yet been taken...

Written Answers — Department of Finance: NAMA Transactions (27 Mar 2018)

Paschal Donohoe: As Minister for Finance I have no role in respect of NAMA's commercial operations. Accordingly, I am not aware of specific details in relation to this particular transaction nor am I aware of the identity of the purchaser.  Furthermore NAMA is subject to legal constraints which prohibit it from disclosing confidential information relating to its debtors and the assets under their...

Written Answers — Department of Finance: Insurance Costs (27 Mar 2018)

Paschal Donohoe: The Deputy should note that in my role as Minister for Finance I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank can interfere in the pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on the risks they are willing to accept. However, it is...

Written Answers — Department of Finance: Insurance Costs (27 Mar 2018)

Paschal Donohoe: The Deputy should note that there are two recommendations in the Report on the Cost of Motor Insurance which specifically aim to provide consumers with more information in respect of their insurance premiums. Recommendation 2 requires insurers to provide additional information on the premium breakdown to consumers, such as setting out the element of the cost related to the mandatory motor...

Written Answers — Department of Finance: Tracker Mortgage Examination (27 Mar 2018)

Paschal Donohoe: The Tracker Examination continues to be a priority for the Central Bank and the Bank will continue to challenge lenders in respect of the conduct of the Examination. The Bank has advised that lenders have committed to certain schedules for payment of redress and compensation to customers and that they are on course to meet these commitments. The Bank has also advised...

Written Answers — Department of Finance: Tax Reliefs Abolition (27 Mar 2018)

Paschal Donohoe: The Irish corporation tax regime contains a small number of specifically targeted tax reliefs.  The focus of these reliefs is on the creation of additional employment, as is consistent with current government policy, and on innovation, with a view to generating high value-added economic activity in the country.   Some other countries have a high headline rate of corporation...

Written Answers — Department of Finance: Tax Credits (27 Mar 2018)

Paschal Donohoe: I am advised by Revenue that in the absence of specific information on the taxpayers concerned it is not possible to comment on the case mentioned. However, if the taxpayers wish to contact their local Revenue office then officials would be happy to assist them. In general the income tax treatment of persons aged 65 and over is as follows: - An additional age tax credit is available. For...

Written Answers — Department of Finance: Insurance Costs (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 196 and 197 together. The second phase of the Cost of Insurance Working Group project culminated in the publication on January 25th of the Report on the Cost of Employer and Public Liability Insurance, following its approval by Government.  This new Report makes 15 recommendations with 29 associated actions to be carried out, detailed in...

Written Answers — Department of Finance: Mortgage Book Sales (27 Mar 2018)

Paschal Donohoe: I was first informed by Department officials of PTSB’s intention to offer this particular portfolio of loans for sale on Friday 19thJanuary. My officials were first briefed on the timing of the sale, and potential composition of the portfolio, earlier that week. As this information was commercially sensitive, and as I am obliged to comply with stock exchange disclosure and market...

Written Answers — Department of Finance: Mortgage Lending (27 Mar 2018)

Paschal Donohoe: In answering the Deputy’s question, it is useful if I start by giving some historic context. During the height of the financial crisis a key focus of the authorities was on stabilising and ultimately reducing mortgage arrears through the implementation of sustainable mortgage solutions that were agreed with borrowers.  This led to the Central Bank of Ireland...

Written Answers — Department of Finance: Economic Policy (27 Mar 2018)

Paschal Donohoe: As Minister for Finance, I attend the Economic and Financial Affairs Council of the European Union (ECOFIN) which is responsible for EU policy in areas including economic policy. I also attend meetings of the Eurogroup, where the ministers of the euro area member states discuss matters concerning their shared responsibilities related to the euro. The Eurogroup’s main task is to...

Written Answers — Department of Finance: Credit Availability (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 201 and 208 together. Supporting the availability of finance for SMEs is a cornerstone element of Government policy in our efforts to strengthen the economy and create jobs.  Government is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. In this regard the...

Written Answers — Department of Finance: Motor Insurance Costs (27 Mar 2018)

Paschal Donohoe: As you are aware, the Cost of Insurance Working Group published its Report on the Cost of Motor Insurance on 10 January 2017.  The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, set out in an Action Plan within the Report.  Work is ongoing on the implementation of the recommendations by the relevant Government...

Written Answers — Department of Finance: Economic Growth Rate (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 203 and 209 together. Recent economic indicators have generally been positive, indicating that the recovery is continuing in a sustainable manner.   Modified domestic demand, which adjusts for distortions in the Irish economy, is up 4.0 per cent in 2017. Growth is broad based with net exports also contributing positively to growth last year. The strength...

Written Answers — Department of Finance: Brexit Issues (27 Mar 2018)

Paschal Donohoe: My Department has been to the fore in producing and funding a number of Brexit-related studies, both before and since the UK's referendum decision, to assess and prepare for the impact of a UK exit from the European Union. All of these Brexit-related studies are available on my Department's website. In addition, regular updates of my Department’s Macro-Economic forecasts take account...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (27 Mar 2018)

Paschal Donohoe: As the Deputy will be aware, within the remit of the Central Bank of Ireland's responsibilities for safeguarding stability and protecting consumers; its approach to mortgage arrears resolution is focused on ensuring the fair treatment of borrowers through a strong consumer protection framework and ensuring that lenders have appropriate arrears resolution strategies and operations.  The...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (27 Mar 2018)

Paschal Donohoe: As the Deputy will be aware, within the remit of the Central Bank’s responsibilities for safeguarding stability and protecting consumers, its approach to mortgage arrears resolution is focused on ensuring the fair treatment of borrowers through a strong consumer protection framework and ensuring that lenders have appropriate arrears resolution strategies and operations in place. ...

Written Answers — Department of Finance: Job Creation Data (27 Mar 2018)

Paschal Donohoe: My Department's most recent macroeconomic forecasts were published with Budget 2018 in October last year, and cover the period up until 2021. The table sets out the total employment projections from these forecasts. Overall, it is forecast that approximately 115,000 net additional jobs will be created over the period from 2018 to 2021. For this year, employment growth of 2.3 per cent...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions (27 Mar 2018)

Paschal Donohoe: I refer the Deputy to my answer to Parliamentary Question No. 194 of 27 February 2018.

Written Answers — Department of Public Expenditure and Reform: Public Sector Reform Implementation (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 215, 216, 220 and 223 together. The public service is central to economic and social life in Ireland. Significant reforms have been made in recent years and have made the work of the public service more transparent, decision-making more accountable and service delivery more effective and efficient. Our Public Service 2020, which I launched last...