Written Answers Nos. 75-87
75. Deputy Bernard J. Durkan asked the Minister for Finance the basis on which lending institutions currently existing or having exited from the Irish market remain accountable to the regulatory mechanisms here in terms of their winding up operations; and if he will make a statement on the matter. [2111/14]
View answerWhere a Central Bank regulated lender transfers all or part of its regulated activities to another regulated financial institution, the same protections apply to borrowers, including the Code of Conduct on Mortgage Arrears (CCMA) and the Consumer Protection Code. Any agent acting on behalf of a regulated lender must comply with the requirements of Irish financial services law and failure to do so may result in the Central Bank imposing penalties on the regulated lender concerned.
The Central Bank’s Consumer Protection Code 2012 imposes obligations on regulated entities in relation to their interactions with consumers. Where a regulated entity intends to cease operating, merge with another, or to transfer all or part of its regulated activities to another regulated entity, Provision 3.11 of the Consumer Protection Code states that it must:
a. notify the Central Bank immediately;
b. provide at least two months’ notice to affected consumers to enable them to make alternative arrangements;
c. ensure all outstanding business is properly completed prior to the transfer, merger or cessation of operations or, alternatively in the case of a transfer or merger, inform the consumer of how continuity of service will be provided following the transfer or merger; and
d. in the case of a merger or transfer of regulated activities, inform the consumer that their details are being transferred to the other regulated entity, if that is the case.
By virtue of an exemption in Part V of the Central Bank Act 1997, an unregulated entity to whom a cash loan is transferred by a regulated entity is not subject to Central Bank supervision under the Consumer Protection Code and CCMA. Under the Central Bank (Supervision and Enforcement) Act 2013, the Central Bank may exercise its information-gathering and authorised officers’ powers in respect of a person, including a corporate entity, which is or has been a regulated financial service provider.
76. Deputy Bernard J. Durkan asked the Minister for Finance if his attention has been drawn to a shift in savings by private investors to the private housing market with obvious implications for buyers seeking to provide themselves with a family home; and if he will make a statement on the matter. [2112/14]
View answerAs the Deputy may be aware, there has been much commentary of late on an increase in demand for private housing in certain urban areas. Industry reports suggest that a significant portion of property purchase does not rely on credit.
However, I wish to assure the Deputy that this Government has implemented a series of measures which reflect the important role that the banking sector has to play in supplying credit and in doing so to assist buyers seeking to provide themselves with a family home. As shareholders in the main banks, the Government’s objective is to ensure that they are managed commercially so as to create and protect value for the taxpayer but also to ensure that they supply the credit lines necessary to sustain and grow the economy. I am satisfied that the Central Bank is monitoring lending decisions of the banks.
It is not immediately evident that investors who are becoming active again in the market after an absence for some time are necessarily competing for the same property types as borrowers of residential mortgages.
77. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which lending institutions here have successfully attracted savings from other jurisdictions; and if he will make a statement on the matter. [2113/14]
View answerTable A.12 from the Central Bank’s Money and Banking Statistics (http://www.centralbank.ie/polstats/stats/cmab/Pages/Money%20and%20Banking.aspx) shows outstanding deposits held in Irish resident credit institutions by non-residents.
The Central Bank’s most recent information release dated 4 January covers the period to November 2013. It stated that non-resident deposits decreased by €1.3 billion during November 2013, following a €333 million decrease in October. November’s decrease reflects decline in deposits from both the non-euro area and the other countries euro area of €662 million and €606 million, respectively. In annual terms, private-sector deposits from non-euro area and other euro area residents decreased by 1 per cent and 11.6 per cent, respectively.
78. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which this country’s economic performance is likely to benefit from the post-bailout environment; and if he will make a statement on the matter. [2114/14]
View answerThe ending of the programme of external financial assistance will help to further enhance confidence as it clearly demonstrates that we have moved to the next stage of our recovery.
The restoration of confidence in the Irish economy will have tangible benefits in terms of supporting domestic demand. In this regard the successful completion of the programme in December 2013 has had a noticeable impact on confidence domestically. Consumer confidence, as measured by the ESRI/KBC Consumer Sentiment Index three-month moving average, has increased for eight consecutive months, reaching very high levels in December.
In addition to this, the recent Quarterly National Accounts release from the CSO showed double digit year-on-year growth in investment in the third quarter – a clear sign that confidence is returning to businesses domestically. Indeed core investment (excluding the volatile aircraft component) has seen strong year-on-year growth in each of the last three quarters. Business expectations for both investment and employment – as measured by Ibec and ISME respectively – both improved in the latter half of 2013.
Further improvements in confidence are important and will continue to support the on-going recovery in the Irish economy, in particular domestic demand.
79. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which the credit needs of business here are being met by banks in other jurisdictions; and if he will make a statement on the matter. [2115/14]
View answerI, as Minister for Finance, have no statutory role in relation to the issues raised by the Deputy.
I have been advised by the Central Bank that it does not publish statistics regarding lending by banks in other jurisdictions to business in Ireland.
The Central Bank of Ireland has overall responsibility for the authorisation, regulation and supervision of credit institutions operating in Ireland. In addition the Central Bank is responsible for oversight of liquidity and conduct of business for branches of non-Irish licensed banks operating in Ireland.
The authorisation, regulation and supervision of credit institutions operating in foreign jurisdictions are matters for the regulatory authorities of each jurisdiction.
80. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which Irish lending institutions have provided credit or other lending facilities to applicants in other EU jurisdictions; and if he will make a statement on the matter. [2116/14]
View answerI am informed by the Central Bank of Ireland that the information sought by the Deputy is contained in Credit, Money and Banking Statistics: Publications and Releases in Table A.7.1 Loans to Non-Residents – Other Euro Area and Table A.7.2 Loans to Non-Residents – Non-Euro Area. http://www.centralbank.ie/polstats/stats/cmab/pages/money%20and%20banking.aspx
81. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which he expects to convince his EU colleagues of the necessity to make provision for legacy debt in this country; and if he will make a statement on the matter. [2117/14]
View answerThe Euro-area Heads of State or Government (HoSG) agreed in June 2012 that “it is imperative to break the vicious circle between banks and sovereigns”, and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism could recapitalize banks directly.
The Eurogroup meeting of 20th June 2013 agreed on the main features of the European Stability Mechanism’s Direct Recapitalisation Instrument or DRI. There is a specific provision included in those main features, which states that “The potential retroactive application of the instrument should be decided on a case-by-case basis and by mutual agreement.” Therefore, the agreement, that we were active in negotiating, keeps open the possibility to apply to the European Stability Mechanism for a retrospective direct recapitalisation of the Irish banks, should we wish to avail of it.
The DRI will come into effect when the Single Supervisory Mechanism is in place and operational. This is not expected to take place until late 2014.
The Eurogroup has agreed that there will be strict eligibility criteria as well as a clear pecking order for the ESM DRI, so any possible application for a DRI will be determined on its own merits within the rules established for the DRI.
The overall framework agreed in summer 2013 builds upon the earlier Euro area Heads of State or Government agreement secured on the 29th of June 2012, and is an important step in the Eurozone’s efforts in this regard.
Finally, I can assure the Deputy that the Irish case is made at all levels as appropriate and in this context I often engage on these matters with my European Ministerial colleagues.
I remain confident that the commitment made by the EU HoSG in June 2012 to break the vicious circle between banks and sovereigns will be respected.
82. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which the Irish Credit Bureau receives correspondence from the various lending institutions on a weekly, monthly or annual basis, the result of which may be a restriction on their ability to operate their business; and if he will make a statement on the matter. [2119/14]
View answerThe Irish Credit Bureau is a private entity and I have no role in regulating the mechanism by which lending institutions report to the Bureau. It a commercial matter between the ICB and the relevant institutions.
The Deputy will be aware that the Credit Reporting Act, 2013 provides for the establishment of a statutory credit register that will be owned and operated by the Central Bank of Ireland. There will be mandatory reporting of a comprehensive range of credit information by credit providers to specified reporting standards (e.g. formats, timelines etc.). Credit providers will be required to make mandatory credit checks with the Register for all credit applications above a threshold of €2,000. The Act also provides that the Central Bank will ensure the robust regulation of regulated financial service providers who fall under this Act.
83. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which bank charges in this country are comparable to those that exist in other EU jurisdictions; and if he will make a statement on the matter. [2120/14]
View answerAs the Deputy may be aware, the Programme Documents (the Memorandum of Understanding on Specific Economic Policy Conditionality and the Memorandum of Economic and Financial Policies) agreed following the 10th Review of the EU-IMF Programme of Financial Support include a commitment to carry out an assessment of banks’ fee income by end-December 2013 as follows:
The authorities will assess banks’ fee income relative to peers in selected other jurisdictions. Based on this assessment they will complete an external review of the regulation of bank fees.
The assessment and review were undertaken by the Department and completed in December 2013. The review was sent to the Troika on completion and my intention is that the report containing analysis such as that sought by the Deputy will be published shortly.
84. Deputy Olivia Mitchell asked the Minister for Finance if he will reconsider the cases where the loss of the single person child carer credit results in the secondary carer moving into a higher tax band, as the loss of income caused is much larger than €1,650 per annum; and if he will make a statement on the matter. [2122/14]
View answerAs the Deputy is aware the One-Parent Family Credit ceased with effect from 31 December 2013 and was replaced by the Single Person Child Carer Credit, which is applicable from 1 January 2014. The restructured credit is of the same value i.e. €1,650 per annum as the one-parent family tax credit and also carries the same entitlement to the additional €4,000 extended standard rate band, which increases it to €36,800 per annum, before liability to higher rate of income tax arises. However, the credit will be more targeted, in that it will in the first instance, only be available to the principal carer of the child.
The withdrawal of the extended standard rate band for non-primary carers results in a maximum additional income tax liability of €840 per annum, depending on the income of the individual concerned.
To allow retention of the extended standard rate band while removing the credit would act to benefit those non-primary carers with greater incomes while providing no benefit to those on lower incomes. It would also go against the thrust of Government policy, which is that only one carer per family unit should attract the benefit of the new credit and band.
85. Deputy Bernard J. Durkan asked the Minister for Finance the total Med 1-Med 2 refund for which a person (details supplied) in County Kildare is eligible and has been paid; and if he will make a statement on the matter. [2128/14]
View answerI have been advised by the Revenue Commissioners that in November 2013 they received Forms MED1 from the person concerned for the years 2010, 2011 and 2012. These claims have been processed and PAYE Balancing Statements (P21s) issued dated 29 November 2013, and 4 December 2013 respectively. As no income tax was paid for 2010, no refund is due for that year. Refunds for 2011 and 2012 have issued in the amounts of €6.33 and €34.82 respectively.
86. Deputy Jonathan O'Brien asked the Minister for Education and Skills the funding options available for community based migrant groups who wish to start language lessons for children; and if he will make a statement on the matter. [1819/14]
View answerUnder the Intercultural Education Strategy (2010-2015) which covers the continuum of education from pre-school through to further and higher education, current funding is being prioritised by my Department within schools for school based language provision, including English language support and support for mother tongue. As the Deputy may be aware the Office for the Promotion of Migrant Integration in the Department of Justice and Equality has responsibility for leading and coordinating work relating to the integration of legally resident immigrants. The Office is also responsible for the European Refugee Fund and the European Fund for the Integration of Third-Country Nationals both of which financially assist integration of members of their target group. From 2014, these Funds will be replaced by the Asylum and Migration Fund. Arrangements for this Fund will involve a policy or programming dialogue with the European Commission after which a national multi-annual programme will be drawn up for the period 2014-2020. National funding for integration of immigrants is also provided by OPMI subject to the reduced resources which are available for all categories of public expenditure at present.
87. Deputy Jonathan O'Brien asked the Minister for Education and Skills the number of consultants or consultancy firms employed by his Department during each of the past five years; the purpose and duration of each of these consultancies or consultancy contracts; the names of the consultants or firms; and if he will list architectural consultancies separately; and if he will make a statement on the matter. [1820/14]
View answerFor the Deputy's information the following table lists the consultants and consultancy firms engaged by my Department for the years 2009 to 2012 inclusive. Information in relation to consultancy expenditure is compiled retrospectively in respect of the previous year. The details in respect of 2013 are not yet available but will be provided to the Deputy as soon as they are to hand. Architects are appointed on all major school building projects as part of the design team which designs the school, secures the statutory approvals, tenders the works and oversees the contractor selected to build the school. Such appointments are not generally considered as consultant appointments. Details in relation to architectural and other design team appointments are available on the Departments web-site.
YEAR 2009
|
Consultants,Experts, Advisors |
Start date |
Completion date |
Purpose |
Total Cost |
|
|
|
|
|
€ |
|
Norcontel |
May-08 |
Aug-09 |
Schools Broadband Access Programme- Technical, Commercial and Financial Advisor for the Advisor for the Evaluation & Contract Phases of the Procurement of Broadband Internet Connectivity for Schools |
33,959 |
|
FGS |
Mar-09 |
Oct-09 |
Review of overhead/indirect costs re work carried out by Bus Eireann on behalf of DES for the administration of the school transport scheme |
67,677 |
|
Centre for Cross Border Studies |
Oct-09 |
Dec-09 |
2009 annual review re courses in Northern Ireland |
2,430 |
|
Gillian Boyd |
Oct-08 |
Dec-09 |
To evaluate the provision of a post-graduate Diploma in SEN (Autistic Spectrum Disorder) in St Angela's College, Sligo |
5,000 |
|
Russell Brendan Keane |
Feb-09 |
Feb-09 |
European Regional development fund-Look Back Exercise |
3,742 |
|
Gartner |
Oct-08 |
Oct-10 |
Provision of ICT Research, advice, guidance & related services to the IT Unit |
51,030 |
|
2009 Total: |
€163,838 |
.
YEAR 2010
|
Consultants,Experts, Advisors |
Start date |
Completion date |
Purpose |
Total Cost |
|
|
|
|
|
€ |
|
Centre for Cross Border Studies |
Oct-10 |
Dec-10 |
2010 annual review of Post grad courses in Northern Ireland |
2,420 |
|
Gartner |
Nov-10 |
Oct-11 |
Subscription for provision of ICT research, advice, guidance & related services to the IT Unit |
37,026 |
|
Ina McGrath |
Jun-10 |
Jun-10 |
Ergonomic workstation assessment & report |
300 |
|
Indecon |
Jan-10 |
May-10 |
Mid term review of the Lifelong Learning Programme & prepare a report for Department of Education & Skills for onward transmission to the European Commission |
59,284 |
|
Deloitte |
May-10 |
2010 |
Declaration of Assurance 2009 Audit - to review procedures & workflows in the National Agencies for the Lifelong Learning Programme & to provide a basis for the yearly Declaration of Assurance from DOES to the EU Commission |
16,299 |
|
Mazars |
Mar-10 |
Mar-10 |
Review procedures & workflows in the National Agencies for the Lifelong Learning Programme & to provide a basis for the yearly Declaration of Assurance from the Department of Education & Skills to the EU Commission |
4,795 |
|
Public Authority Pension Services |
Jul-10 |
Sep-10 |
Expertise relating to the model public service pension scheme to assist in the establishment of a pension scheme for the NCTE |
5,324 |
|
2010 Total: |
€125,448 |
YEAR 2011
|
Consultants,Experts, Advisors |
Start date |
Completion date |
Purpose |
Total Cost |
|
€ |
||||
|
Centre for Cross Border Studies |
Oct-11 |
Dec-11 |
2011 annual review of Post graduate courses in Northern Ireland |
2420.00 |
|
Jim Duffy & Pat McLoughlin members of an independent panel appointed by the Secretary General re designation of a single awarding authority |
Feb-11 |
Apr-11 |
The independent panel shortlisted a number of proposals, made recommendations to the Minister on the preferred proposal for designation of a single awarding authority and made recommendations it considered necessary in relation to modification or development of the preferred proposal for implementation purposes |
1,927.86 |
|
Gartner |
Oct-11 |
Oct-14 |
Subscription for provision of ICT research, advice, guidance & related services to the IT Unit 1/10/2011 - 30/09/2012 |
35,150.49 |
|
Sr. Eileen Randles |
May-10 |
Nov-10 |
External Reviewer in an appeal against an inspection under section 13 (9) of the Education Act 1998 |
920.00 |
|
Dr Simon Marginson |
Jan-11 |
Mar-11 |
Development & submission to DOES of draft criteria for the proposed re-designation of amalgamated institutes of Technology Universities arising from the recommendations of the National Strategy for Higher Education to 2030 |
€9,075.00 |
|
Farrell Grant Sparks |
Oct-10 |
Jun-11 |
Follow up work and provision of advice in relation to the FGS report (redacted report due to commercially sensitive issues in original report) |
€8,410.71 |
|
Forum on Patronage & Pluralism in the Primary Sector-Professor John Coolahan, Dr Caroline Hussey, Fionnuala Kilfeather |
Apr-11 |
Jan-12 |
Advisory Group to convene the Forum on Patronage & Pluralism in the Primary Sector, to receive and distil the various views and perspectives of participants and to report and advise the Minister |
€20,000.00 |
|
Price Waterhouse Coopers LLP (PWC) Belfast |
Dec-10 |
Mar-12 |
Evaluation of the Special Education Support Service established by the Department in 2003 to address the then rather fragmented provision of continuing professional development in the area of special education. |
€97,866.01 |
|
Goodbody Economic Consultants |
Apr-11 |
Dec-11 |
Evaluation of the Initial Implementation of Síolta, the National Quality Framework for Early Childhood Education |
€31,280.92 |
|
The PA Consulting Group |
Jul-11 |
Nov-11 |
Evaluation of the training & education programmes for the unemployed delivered under LMAF 2010 |
€52,003.38 |
|
Fitzpatrick & Associates |
Feb-11 |
Aug-11 |
Mid term Evaluation of the Human Capital Investment Operational Programme 2007-2013 |
€61,589.00 |
|
Deloitte |
Apr-10 |
Apr-12 |
To carry out audits of the national agencies for the Lifelong Learning Programme in Ireland, these will serve as the basis for the submission of Declarations of Assurance from International Section to the European Commission |
€16,299.00 |
|
Public Authority Pension Services Ltd |
Jun-10 |
Jun-11 |
Pensions advisory work relating to the establishment of a pension scheme for staff of the NCTE |
€4,791.60 |
|
Analysys Mason |
Jul-11 |
Apr-12 |
Commercial Financial & Technical Procurement advice for Schools Broadband Tender |
€63,632.51 |
|
Grant Thornton |
Sep-11 |
Oct-11 |
External audit of Dell and Waterford Crystal EGF programmes |
€5,445.00 |
|
2011 Total: |
€410,811.48 |
YEAR 2012
|
Consultants,Experts, Advisors |
Start date |
Completion date |
Purpose |
Total Cost |
|
€ |
||||
|
Analysys Mason |
Jul-11 |
Mar-13 |
Commercial, financial and technical advice on the procurement of broadband services for schools |
€52,040.42 |
|
Goodbody Economic Consultants |
Apr-11 |
Dec-11 |
Evaluation of the Initial Implementation of Síolta, the National Quality framework for Early Childhood Education |
€16,747.68 |
|
Mazars |
2012 |
2012 |
IT Security Audit of the EUSF IT Database |
€5,063.91 |
|
Mazars |
Jul-11 |
Jun-12 |
Audit of Labour Market Activation Fund (LMAF) |
€9,839.14 |
|
Version 1 |
Apr-12 |
Dec-12 |
Provision of Oracle Financials training support along with training documentation in the implementation of Performance Budgeting |
€2,070.00 |
|
Mokum Change Management Ltd |
Apr-12 |
Dec-12 |
Provision of Oracle Financials training support along with training documentation in the implementation of Performance Budgeting |
€17,302.88 |
|
Seamus O'Dwyer-Consulting and Training |
Jul-12 |
Jan-13 |
Training and expert advice relating to the Public Service Pensions Bill |
€2,700.00 |
|
Sydney Blain |
Oct-11 |
Feb-12 |
Review of an appeal against an inspection under section 13(9) of the Education Act |
€718.75 |
|
Mokum Change Management Ltd |
Apr-12 |
Dec-12 |
Provision of Oracle Financials functional & accounting advice in moving from a four vote operating unit to a single operating unit |
€11,606.90 |
|
Sir Jim Rose |
Dec-11 |
2020 |
Provision of international expertise on Literacy & Numeracy to the Literacy & Numeracy Implementation Advisory Committee |
€3,870.13 |
|
Gartner |
Oct-11 |
Oct-14 |
Subscription for provision of ICT research, advice, guidance & related services to the IT Unit |
€36,788.67 |
|
Sion Quality Healthcare Solutions |
Oct-12 |
Oct-12 |
Completion of a workplace assessment for staff member with a disability and resulting report |
€370.00 |
|
Pat McLoughlin |
Feb-11 |
Apr-11 |
Chair of Independent Panel re the establishment of the single grant awarding authority |
€83.66 |
|
The Centre for Cross Border Studies |
Oct-12 |
Dec-12 |
2012 review paper of Republic of Ireland post graduates in Northern Ireland |
€1,845.00 |
|
Deloitte |
Mar-12 |
Apr-12 |
Preparation of a Declaration of Assurance in respect of the Lifelong Learning Programme |
€16,568.10 |
|
2012 Total: |
€177,615.24 |
