Full coverage: Paschal Donohoe

Faced with opposition questions on the latest tax-free profits reported by some debt vehicles, the finance minister defended the principle of securitisation. The real issues, however, are how useful it actually is, and how much of a tax advantage it enjoys.

Paschal Donohoe is a chief architect of the July stimulus package. In an in-depth interview, the finance minister talks about the philosophy behind the package, the challenges facing Irish business and the societal impact of Covid-19.

The Irish economy is booming, and unemployment has flatlined. Yet, Fine Gael is getting little electoral credit for its stewardship of the economy. In his pre-election interview, Minister for Finance Paschal Donohoe defends his record and critiques the economic plans of the other parties.

Changes in last year’s budget meant that Henderson Park faced an unforeseen €65m tax hit on its €1.34bn acquisition of Green Reit. The London firm did not take it lying down.

Paschal Donohoe worked at a high level in the corporate world and has since risen the ranks in politics to become Minister for Finance and Public Expenditure and Reform. What can the public sector learn from the private world, and vice versa? 

The finance minister clearly believes that the persistent use of aggressive structures is impacting his ability to defend Ireland’s reputation. And given some of the wily tactics being deployed, it is hard to disagree.

Budget 2020 was both weird and strange. A tentpole policy you don’t want to see used. A recognition of the fiscal prodigal that is Health. A suite of inherently prudent measures, and a raft of other small things that might not get used at all. But it was also the budget we needed.

EXCLUSIVE INTERVIEW: As he prepares his third Budget as finance minister, Paschal Donohoe talks about his political philosophy, international tax reform, Brexit and his predecessors