Written Answers Nos. 131 - 143
131. Deputy Joanna Tuffy asked the Minister for Finance the position pertaining in respect of a person if a bank fails to make a timely decision in respect of a complaint to that bank (details supplied); and if he will make a statement on the matter. [1071/13]
View answerI have been advised by the Central Bank that Chapter 10 of the Central Bank’s Consumer Protection Code 2012 outlines the requirements that a regulated entity must adhere to regarding errors and complaints resolution. However, it should be noted that these requirements apply to the regulated activities of regulated firms operating in the State.
In the context of an AVC pension fund, (to which the Deputy refers), I am advised by the Central Bank that the trustees of the fund would be considered as “consumers” for the purposes of the Consumer Protection Code. Therefore, a complaint from the trustees should be treated in accordance with Chapter 10 which provides that the regulated entity must attempt to investigate and resolve a complaint within 40 business days of having received the complaint. Where the 40 business days have elapsed and the complaint is not resolved, the regulated entity must inform the complainant of the anticipated timeframe within which the regulated entity hopes to resolve the complaint and must inform the consumer that they can refer the matter to the relevant Ombudsman, and must provide the consumer with the contact details of such Ombudsman. In this case the relevant Ombudsman is the Pensions Ombudsman.
A copy of the Code is available on the Central Bank’s website: www.Centralbank.ie.
132. Deputy Michelle Mulherin asked the Minister for Finance the way in which fees payable by a supermarket upon annual renewal of its intoxicating liquor licence are calculated; and if he will make a statement on the matter. [1077/13]
View answerI am informed by the Revenue Commissioners that there are a total of three categories of Off Licence, which supermarkets may hold. These categories are “Wine Retailer’s Off Licence”, “Spirit Retailer’s Off Licence” and “Beer Retailer’s Off Licence”. A supermarket may hold a combination of one, two or all three of these licenses.
The current rate of duty payable for renewal of each Off-Licence category currently stands at €500 per category and is payable to the Revenue Commissioners. The annual cost therefore depends on the number of licenses held at €500 each, the maximum cost being €1500 for all three categories of licence.
134. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 94 of 20 December 2012, if there is any distinction between the way carbon tax is being extended to smokeless and non smokeless coal; and if he will make a statement on the matter. [1155/13]
View answerSection 78 Finance Act 2010, which provides for the taxation of solid fuel, does not differentiate between smokeless and non-smokeless coal; the rate of tax applied to solid fuel, including coal, is proportionate to the emissions of carbon dioxide from the combustion of the fuel.
135. Deputy Damien English asked the Minister for Finance in the instance whereby a financial institution (details supplied) has sold all rights, title, interests and benefits of a mortgage loan agreement to another financial institution, how stands a persons rights under the mortgage arrears protection scheme; and if he will make a statement on the matter. [1160/13]
View answerI have been informed by the financial institution whose details were supplied that any residential mortgage holder whose mortgage was part of the transaction referred to in the question will retain all their existing rights under the mortgage arrears protection scheme.
140. Deputy Michael Healy-Rae asked the Minister for Finance his views on correspondence (details supplied) regarding the increase in excise duty on beer, spirits and wine; if he has any plans to re-think the excise duties before the Finance Bill comes into law; and if he will make a statement on the matter. [1262/13]
View answerAs I am sure the Deputy is aware there has been no general increase in the tax on alcohol products since 1994. Prior to Budget 2013 there were no increases on Beer since 1994. Excise on cider was increased in Budget 2002 to bring it into line with the rate for beer. Excise on spirits was increased the following year, and this increase was also applied to spirits-based alcopops. Excise on wine, with pro-rata increases for certain fermented and intermediate products, was increased in Budget 2009. There was a general decrease in rates for all alcohol products, of around 20% (inclusive of VAT), in Budget 2010. There was no change in Budgets 2011 and 2012. The Deputy should note that a 10 cent increase on beer still leaves the excise duty on beer below the 2010 level.
The expected yield from these increases in alcohol products tax is approximately €180 million, a significant part of the overall increased revenue requirement for 2013. Accordingly, I have no plans to amend the excise duty on alcohol in the context of the Finance Bill.
141. Deputy Michael Healy-Rae asked the Minister for Finance if persons can look forward to a deal being struck on the Irish Bank Resolution Corporation promissory notes being completed before the summer of 2013; and if he will make a statement on the matter. [1270/13]
View answer152. Deputy Thomas P. Broughan asked the Minister for Finance the position regarding the next promissory note payment; if Ireland has made detailed proposals to address the resolution of this financial drain; and if he will make a statement on the matter. [1448/13]
View answer153. Deputy Thomas P. Broughan asked the Minister for Finance if the promissory note issue was resolved, the envisaged impact on the national budgetary finances for 2012/13; and if he will make a statement on the matter. [1449/13]
View answer189. Deputy Micheál Martin asked the Minister for Finance if there will be a deal completed on the promissory note in the near future; and if he will make a statement on the matter. [56514/12]
View answerI propose to take Questions Nos. 141, 152, 153 and 189 together.
As the Deputies are aware, the Irish Government has been working extremely hard to secure a deal on the Irish bank debt with our European partners and detailed work will continue to ensure that positive moves in Europe are harnessed to maximise the benefit to the Irish taxpayer.
The on-going discussions are considering all options in relation to the promissory notes (in terms of the source of funding, the duration of the notes, the interest rate applicable etc.) as well as potential avenues for the wider bank debt deal and the impact of these options on IBRC. This work is one of the Government’s key priorities and will remain a key focus during the EU presidency.
The terms sought by the Government are those which achieve the best possible outcome for the Irish taxpayer. It is not possible to give guidance on the timing or potential outcome of the discussions as to do so could impede our ability to achieve the best possible results, but every effort is being made to expedite the on-going process.
I have previously stated that I am working to try and achieve a solution before the next scheduled instalment on the Promissory Note scheduled for March. It would be very difficult for Ireland to make a payment on that date and so we continue to work on a deal with our European partners to resolve this issue.
142. Deputy Michael Healy-Rae asked the Minister for Finance his views on correspondence (details supplied) regarding the recapitalisation of Ireland's remaining banks; and if he will make a statement on the matter. [1271/13]
View answerThe European Council in October reaffirmed that “the Eurogroup will draw up the exact operational criteria that will guide direct bank recapitalisations by the European Stability Mechanism (ESM), in full respect of the 29 June 2012 euro area Summit statement. It is imperative to break the vicious circle between banks and sovereigns.”
As the Deputy will be aware, the Taoiseach and Chancellor Merkel spoke together following the October European Council and discussed the unique circumstances behind Ireland’s banking and sovereign debt crisis, and Ireland’s plans for a full return to the markets. They reaffirmed the commitment from June 29th to task the Eurogroup to examine the situation of the Irish financial sector with a view to further improving the sustainability of the well performing adjustment programme. They recognised, in this context, that Ireland is a special case, and that the Eurogroup will take that into account.
As the establishment of a new supervisory mechanism is a pre-requisite for direct banking recapitalisation, it is likely that reaching an outcome here will take longer than our discussions in relation to the promissory notes. Aside from the issue of when this new instrument will become available, there is a host of other issues that have yet to be worked through such as how the ESM would run these banks, what governance arrangements would be put in place between the fund and the banks themselves and indeed between the ESM and Member State governments.
As the Deputy is aware, the Irish Government has been working extremely hard to secure a deal on the Irish bank debt with our European partners and detailed work will continue to ensure that positive moves in Europe are harnessed to maximise the benefit to the Irish taxpayer. This work is one of the Government’s key priorities and will remain a key focus during the EU presidency.
143. Deputy Dara Calleary asked the Minister for Finance the 2012 targets set for his Department for implementation of the Jobs Action Plan; if he will report on the attainment or otherwise of these targets; the reason targets were not met; the steps he is taking within his Department to create new jobs; and if he will make a statement on the matter. [1282/13]
View answerAny matters relating to the jobs initiative are dealt with by my colleague the Minister for Jobs, Enterprise and Innovation, Mr Richard Bruton, TD.
