Paschal Donohoe, TD

Response to Parnell Square incident

“I want to thank the representatives of the residents of East Wall for meeting Minister O’Gorman and I.

I note the publication by the Department of Foreign Affairs of documents regarding the appointment of a Special Envoy for Freedom of Opinion and Expression.

Speaking this morning (Friday) following the announcement by National Westminster Bank plc (NatWest) that Ulster Bank Ireland DAC (Ulster Bank) is to withdraw from the Irish market, the Minister for Finance, Paschal Donohoe TD, said it is a difficult day from an Irish banking perspective, and also for the Ulster Bank staff who are receiving news of this development.

The Update takes stock of the changing international tax environment, outlines the significant actions Ireland has taken to date and the further actions that will be taken over the coming years.

The Minister for Finance, Paschal Donohoe T.D., today (Tuesday) welcomed the European Commission’s proposal on the Brexit Adjustment Reserve, which aims to provide financial support to the Member States and sectors most adversely affected by the UK’s withdrawal from the EU.

The Minister for Finance, Paschal Donohoe TD, has today (Friday) encouraged businesses to avail of the range of support schemes in place to reduce the impact of new public health restrictions on their business.

The Minister for Finance, Paschal Donohoe, T.D., has today (Wednesday) announced that the current rates of subsidy provided by the Employment Wage Subsidy Scheme (EWSS) will remain in place until 31 March 2021, aligned with the extension of the rates of the Pandemic Unemployment Payment (PUP). Both measures were agreed at Government today.

An Exchequer deficit of €12,316 million was recorded to end-December 2020. This compares to a surplus of €647 million in 2019. The €12,963 million year-on-year deterioration in the Exchequer balance is primarily driven by increases in voted expenditure. Cumulative tax receipts of €57,165 million at the end of the year were down by 3.6 per cent or €2,149 million on last year. Receipts in 2020 benefitted from a strong performance in January and February, as well as solid income and corporate tax receipts, which have compensated — to an extent — for sharp declines in other tax heads, notably VAT and excise receipts.

Today I present my second Budget to this house and to the Irish people as the Minister for Finance and Public Expenditure and Reform. A decade on from the financial and economic crisis that wrought havoc with the lives and aspirations of so many of our citizens, I can report that our economy is again growing strongly and sustainably.