Terence Flanagan
Question:36. Deputy Terence Flanagan asked the Minister for Finance if there is any provision for credit unions against loss; and if he will make a statement on the matter. [49855/13]
View answerCredit Unions
Questions (36)
Written answers
Under the Credit Union Act 1997 credit unions are required to set aside provisions to deal with expected losses. An amount of €830.9 million in total provisions for bad debts was reported in the quarterly prudential returns to the Central Bank as at 30 September 2013. This amount compares with arrears in the sector of €816.1 million as reported on the same date. While these are unaudited figures, they do indicate that just over 100 per cent of arrears are currently being provided for.
Tax Reliefs Availability
Questions (37)
Terence Flanagan
Question:37. Deputy Terence Flanagan asked the Minister for Finance if the criteria for claiming physiotherapy expenses will be changed so that a person does not have to be referred from a general practitioner, GP (details supplied); and if he will make a statement on the matter. [49856/13]
View answerWritten answers
I have considered this matter carefully and I have decided at this time, not to extend the parameters of the scheme to include self-referral for physiotherapy. General practitioners act as an access and control point for the scheme of tax relief on health expenses, as all such expenses must be incurred on the advice or referral of a general practitioner. If physiotherapy was allowed without the need for the treatment to be prescribed by a practitioner, it would inevitably lead to calls for other treatments to similarly qualify for relief, which could greatly increase the overall cost of the scheme. Given the difficult fiscal environment, I am not predisposed to such a potential cost increase.
Credit Unions
Questions (38)
Seán Ó Fearghaíl
Question:38. Deputy Seán Ó Fearghaíl asked the Minister for Finance if his attention has been drawn to the total deposits held by a credit union (details supplied) in County Kildare at the time his special manager was appointed at the behest of the Central Bank; the level of deposits in the credit union immediately prior to its transfer to the Permanent TSB; and if he will make a statement on the matter. [49873/13]
View answerWritten answers
I have been informed by the Central Bank that Newbridge Credit Union Limited’s total members’ shares and deposits were €163.4 million as at 30 September 2010, as extracted from its audited financial statements for the financial year ended 30 September 2010. It is not currently possible to disclose Newbridge Credit Union Limited’s total members’ shares as at a date closer to the appointment of the Special Manager in January 2012 given the High Court’s existing confidentiality orders concerning such disclosures. The Central Bank have also informed me that based on unaudited management accounts as at 31 October 2013, Newbridge Credit Union Limited’s total members’ shares and deposits were €79.3 million.
Unemployment Levels
Questions (39)
Tom Fleming
Question:39. Deputy Tom Fleming asked the Minister for Finance further to Parliamentary Question No. 75 of 27 February 2013, if he will provide a detailed up to date report; and if he will make a statement on the matter. [49876/13]
View answerWritten answers
In Budget 2014, an average unemployment rate of 13.5 per cent was forecast by my Department for 2013. For 2014, a further decline in the unemployment rate is expected, with an average rate of 12.4 per cent forecast. After a number of very difficult years, a recovery in the labour market is now clearly taking hold. During this year live register data show a continually falling unemployment rate, which reached 13.2 per cent in October.
The fall in the unemployment rate is being supported by strong employment growth. Data from the quarterly national household survey show that annual employment growth averaged 1.5 per cent in the first half of the year. Encouragingly, this reflected an increase in both full-time and part-time employment and was broad-based across the majority of sectors in the economy. Available indicators point to continued employment growth in the period since the second quarter, so that employment growth of 1.6 per cent is projected for this year as whole. Given the assumed path for domestic demand – which is more jobs-rich than externally-driven growth – employment growth of 1.5 per cent is forecast for next year.
While we are now moving in the right direction, I want to reiterate that the Government is fully conscious of the scale of the unemployment difficulties facing us and several initiatives have been introduced in this respect. So while we are making progress, I am fully aware that there is some way to go.
Question No. 40 answered with Question No. 29.
Fuel Laundering
Questions (41)
Bernard Durkan
Question:41. Deputy Bernard J. Durkan asked the Minister for Finance the progress to date and options available in the case of a person (details supplied) in County Kildare who was contacted by the Revenue Commissioners in respect of the detection of oil in the fuel tank of the person's motor vehicle on 23 August 2013, who recently submitted proof to the Revenue Commissioners that the vehicle was only purchased on 20 August 2013 and had not put any fuel in the car since the purchase; and if he will make a statement on the matter. [49879/13]
View answerWritten answers
I am advised by the Revenue Commissioners that on 23 August 2013 their officers detected marked gas oil in the relevant vehicle. The Commissioners note that the notification of the transfer of ownership of the vehicle with effect from 20 August 2013 was not submitted to the Department of Transport until 7 October 2013. The Commissioners are satisfied that an offence under Mineral Oil Tax legislation may have occurred, and as a consequence, the question of the institution of criminal proceedings in the matter is currently under consideration.
It should be noted, however, that the Commissioners wrote to the owner of the vehicle concerned on 5 September, 2013 and offered a compromise penalty arrangement to them in relation to the statutory penalty that otherwise might apply. A reply to that letter has not been received. While the deadline for the receipt of a reply of 5 October 2013, as outlined in that letter, has now passed, the Commissioners are nonetheless still prepared to offer the person concerned the opportunity of agreeing to a compromise penalty arrangement. If the person wishes to avail of this opportunity, or provide any additional information, they should now reply to the Commissioners’ letter of 5 September 2013 without further delay.