Results 1-20 of 145 for 5 million speaker:Pearse Doherty

Committee on Budgetary Oversight: Existing Levels of Service Costs: Discussion (15 Nov 2023)

Pearse Doherty: ...There will be a Revised Estimate next week in respect of the health budget. We talked yesterday at a meeting of the finance committee about how, on an accrual basis, that may be as high as €1.5 billion if we are led to believe what is in the media and, on a cash basis, what is needed between now and the end of the year could be €1.1 billion. None of that is being provided...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I move amendment No. 25: In page 80, between lines 4 and 5, to insert the following: "Report on the application of stamp duty on the buy-back of shares 49.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the application of stamp duty on all purchases by companies of their own shares, and requiring companies to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: ...operator is different from a retailer who will operate the scheme. An operator will provide services at different retail outlets, I assume. Correct me if I have misunderstood this. Let us say €5 million in deposits was paid for aluminium cans or plastic drink containers and €4 million of that was returned, so the operator has €1 million. Therefore, VAT would apply...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: ...EU jurisdictions. I think that is a gap in terms of the information that should be there around the banking levy. I invite the Minister to comment on this matter. He has said that €200 million is not an insignificant number and I agree with him. I contend that €150 million was not either but that amount was being applied to the banks when their profitability was less than...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Pearse Doherty: I thank the Minister for his response. As I said, reducing the tax relief for employee contributions from €115,000 to €60,000 does not actually mean that somebody earning €60,000 does not get pension tax relief. I want to make that point because the Minister has made that claim on numerous occasions. That is not how the earnings limit for tax relief for employee...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Pearse Doherty: I look forward to that. That would be very much welcomed at this time, unless the Minister is thinking of increasing the standard fund threshold back to €5 million. I thank the Minister. I will withdraw the amendment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Pearse Doherty: ...is too much of a challenge and they are not even applying for it. I am taken aback by the cost of this. The overall cost to the Exchequer last year of the research and development tax credit was €753 million for 1,600 claimants. If we increase the rate by 5% the cost of this will be an extra €27 million. Will the Minister explain how this is not linear in relation to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Pearse Doherty: Well, we have never had these figures before and, in fairness, Deputy Boyd Barrett has just been given figures for companies with more than 250 employees. Where the companies that are out of scope are concerned, if a 5% increase equates to €13 million, it means they are getting €65 million currently and all of the other tax credit, amounting to nearly €700 million, is...

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Ministers for Finance and Public Expenditure, NDP Delivery and Reform (27 Sep 2023)

Pearse Doherty: How will that be dealt with? Will it be clear? Obviously negotiations are ongoing so if it is a 3% split over two instalments, it could be close to €500 million. If it is 5%, it could be €750 million. Is the Minister just going to settle on a figure?

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Ministers for Finance and Public Expenditure, NDP Delivery and Reform (27 Sep 2023)

Pearse Doherty: .... The Minister has a unit within his Department that monitors health spending. The fact that the Minister cannot tell the Committee on Budgetary Oversight whether there is €1 billion or €500 million overspend that needs to be provided again next year is not acceptable. I think the Minister has an indication and, if not, I would worry for the budgetary process that only 13...

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Pearse Doherty: ...catch-up capital is required, which means it does not go into the fund and there is a role for investing in the domestic economy. How do we invest now to ensure we are secure in the next ten to 15 years? Professor Kinsella spoke about third level education. Let us consider some challenges. Obviously there are challenges in the areas of infrastructure, energy and education because we...

Committee on Budgetary Oversight: Report of the Commission on Taxation and Welfare: Discussion (Resumed) (10 May 2023)

Pearse Doherty: ...from 2020, which I am sure the witnesses are aware of. They demonstrated that the cost of the tax relief on employee pension contributions stood at €1.2 billion, nearly €700 of which, €693 million, went to those earning incomes in excess of €100,000. The sum of €700 million is a staggering fact and statistic, meaning 60% of this tax relief goes to...

Committee on Budgetary Oversight: Report of the Commission on Taxation and Welfare: Discussion (Resumed) (10 May 2023)

Pearse Doherty: I understand the recommendations around annual contributions and age limits. Reading recommendation 8.5, which is about the standard fund threshold, it discusses benchmarking and uses the word "appropriate". That is vague. What is an appropriate retirement pension? It does not suggest it is appropriate now or you could read it as it needs to be increased. Therefore, the regressive...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Pearse Doherty: ...rate for home heating oil under the energy tax directive from 1 May to 31 October. The effect of the measure would be that a 900-litre fill of home heating oil would see a reduction of €125. It is a cost-of-living measure, taking cognisance of the fact that 37% of households that rely on home heating oil have received no fuel-specific support since the cost-of-living crisis began....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Pearse Doherty: ...not repeat myself. We see from a reply to a parliamentary question that while the projected cost of the reduced VAT rate applicable to electricity and gas, up until the end of October is €86 million, the net benefit to a household is €38 in respect of electricity. That is just under €5 per month. With gas, it is less; the total benefit during the whole period would...

Finance Bill 2023: Second Stage (21 Mar 2023)

Pearse Doherty: .... From tomorrow, the European Central Bank, ECB, lending rate will increase for the sixth time since July. This will take effect tomorrow. This rate hike will immediately impact more than 250,000 Irish homeowners who have already seen their mortgage repayments steadily increase since last summer. It will also hit the pockets of tens of thousands of borrowers who have had their...

Credit Union (Amendment) Bill 2022 [Seanad]: Second Stage (28 Feb 2023)

Pearse Doherty: ...to increase their offering. For example, we see that 69 credit unions are providing current accounts through collaborative models. We have three other vehicles that have been approved to support up to €900 million in lending to approved housing bodies, recognising the opportunities that collaboration presents to the credit union sector and the broader economy. Sections 3, 5,...

Financial Resolution No.3: Value-Added Tax (22 Feb 2023)

Pearse Doherty: ...No. 1: In Schedule 2, inserted by paragraph (l), by the substitution of the following for the row dated 1 May 2023: " 1 May 2023 €483.34 €483.34 €425.45 €425.45 €425.45 €0.00 €164.23 €11 1.14 €142.76 €79.17 €9.36 ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Pearse Doherty: ...share buybacks through a stock transfer form. I believe the gap should be closed. The Minister stated previously to me in reply to a parliamentary question that the cost to the Exchequer of this is between €5 million and €20 million in each calendar year based on the prior year's transaction. Revenue is not able to gather comprehensive data on share buybacks that occur...