From top: Eamon Ryan and Paschal Donohoe
Minister for Finance Paschal Donohoe has said that the Government will consider a detailed report about turf burning after Easter at which time a decision will be made about the proposed ban on the sale of turf.
Speaking on RTÉ radio’s Morning Ireland, Mr Donohoe said that no proposal in relation to a pause on the ban, as reportedly advocated by the Tánaiste, had come to Government.
However, on Newstalk Breakfast Green Party leader Eamon Ryan said there would be no pause in plans to ban the sale of turf. The comment by Mr Varadkar had been made at a Fine Gael meeting, not at a public meeting, he added.
Mr Ryan said that the concerns that people would be criminalised needed to be addressed and the details of the regulations better communicated.
No proposal to pause turf ban has come to Government, says Donohoe (BreakingNews)
Minister for Finance Paschal O’Donohue (left) and Minister for Public Expenditure and Reform, Michael McGrath in the Department of Finance this afternoon
The public finances recorded a surplus at the end of March of €200m, according to the latest Exchequer figures published by the Department of Finance.
Via RTÉ News:
Today’s figures show that on a 12-month rolling basis, there was a deficit of €3 billion.
On a cumulative basis, for the first three months of this year, income tax was up almost €1 billion or 16% to €6.8 billion. This is also 37% higher than the same period of 2019.
VAT returns were up €1.4 billion or just over 30% to €5.9 billion compared to the same period in 2021. This is 17% higher than the same period in 2019.
Due to what the department describes as a “timing issue” with returns usually expected in August being made in March, corporation tax is up €1.3 billion or 224% to €1.9 billion.
The surge in corporation tax is also explained as “increased profitability of a small number of companies in the ICT sector”.
Tax revenue in total came in at €17.2 billion, some €4.2 billion higher or 32% ahead of the same period last year.
Public finances show surplus of €200m in March (RTE)
Minister for Finance Paschal Donohoe at government buoldings yesterday
Via RTÉ News:
Paschal Donohoe said “mechanics” to reduce energy costs for people are being worked on at the moment and he expects they will come before the Dáil very soon.
The Minister said the Government wants to be confident that companies pass the full reduction onto customers.
He added that changes have also been made to social welfare payments, including fuel payments.
Paschal Donohoe said the Government cannot insulate everyone fully from increases because there are many other priorities that need to be delivered.
These include a massive national effort to deal with Covid-19 and a wage subsidy scheme to support employers and employees.
Budget measures helping people cope with inflation – Donohoe (RTE)
He made me do it.
Pair of messers.
Government Buildings, Dublin 2
HSE CEO Paul Reid (above left) and chair of Ireland’s High-Level Task Force on COVID-19 Vaccination Brian MacCraith enter Government Buildings behind a press conference hosted by Minister for Finance, Paschal Donohoe following the launch of a public consultation on the OECD International Tax Proposals.
KBC has confirmed its intention to quit the Irish market.
…Social Democrats co-leader Róisín Shortall said:
“Finance Minister Pascal Donohoe said he found out about KBC’s proposed exit when he received a call from the CEOs of KBC and Bank of Ireland at 9pm last night to advise him the banks had entered into a Memorandum of Understanding to sell KBC’s performing loans to AIB.
“It is concerning that the Minister was apparently among the last to know of the banks’ plans, given their serious implications for both staff and consumers.”
KBC looks at Irish exit plan with Bank of Ireland deal (RTÉ)
Minister for Finance Paschal Donohoe
Morning Ireland on RTÉ Radio One.
Previously: VAT On Children’s Shoes (RTE Archive)
Minister for Finance Paschal Donohoe
“Intense discussions” on how the country will exit Level 5 restrictions are “necessary” and are under way, the Finance Minister has said, describing it as a “decision of magnitude”.
Paschal Donohoe said the Government is hearing assessments from NPHET, adding it is important to acknowledge that the country is making progress on beating the virus.
“If you are looking at all indicators where we were a few weeks ago we are in a better place but not as good a place as we would like to be,” Mr Donohoe stated.
‘Intense discussions’ on exiting Level 5 under way – Donohoe (RTÉ)
…He walked this back last Monday.
Above from left: the Minister for Public Expenditure and Reform, Michael McGrath; The Minister for Finance, Paschal Donohoe, and the Minister for Social Protection, Community and Rural Development, Heather Humphreys outline changes to the Pandemic Unemployment Payment and the Employment Wage Subsidy Scheme this afternoon
Government Buildings, Dublin 2.
The budget deficit this year will now be €23 billion, up approximately €1.25 billion on the figure outlined in Budget 2021, Minister for Finance, Paschal Donohoe announced at a press conference.
The increase reflects the anticipated €2 billion spend over the next six weeks on several income and business support schemes as Level 5 restrictions come into play.
This will mean that GDP is expected to decline this year by 3.5%, a further 1% decline on the forecast released at Budget time.
Mr Donohoe said that the enhanced Employment Wage Subsidy Scheme (EWSS) is expected to cost €105m a week, the new Covid Restrictions Support Scheme (CRSS) €80m a week and the PUP €135m a week.
Social Protection Minister Heather Humphreys said the enhanced PUP will be given at its current rate until January when it will then be reviewed….
Level 5 Covid restrictions to push Budget deficit up to €23 billion (RTÉ)
Julian Behal Photography/RollingNews
The Department of the Taoiseach, Merrion Street, Dublin 2.
Minister for Finance, Paschal Donohoe TD provided an update on the Employment Wage Subsidy Scheme, and announced details of the taxation of amounts received by employees under the Temporary Wage Subsidy Scheme and Pandemic Unemployment Payment.
PUP/TWSS recipients to discover tax liabilities in January – Revenue (RTÉ)
Newly-elected President of the Eurogroup (of the Union’s finance ministers), Paschal Donohoe at a press conference with ECB head Christine Legarde (above right) among others following his first meeting in the role.
Rollingnews/Council of the European Union live broadcast