Written Answers Nos. 90 - 103
90. Deputy Michael McGrath asked the Minister for Finance if permanent tsb has sought his views on a full disposal of any part of its mortgage loan book; his views on such a course of action; and if he will make a statement on the matter. [8844/14]
View answerAs part of discussions surrounding the Central Bank's Prudential Liquidity Assessment Review (PLAR) issued in March 2011, which identified several loan books for deleverage, and the preparation of a restructuring plan, officials from my department have had ongoing engagement with Permanent TSB (PTSB) regarding the sale of loan books, including mortgage loan books.
I have been informed by PTSB that a very small number of mortgage loans were sold to a bank as part of the sale of Permanent TSB Finance in December 2012 and the protections contained in the CCMA continued to apply to these customers.
Under Clause 11 of the Relationship Framework in operation PTSB would be obliged to consult with me if they were proposing a disposal of a loan/loans for an amount in excess of €50 million. In the Relationship Framework it is recognised that PTSB remains a separate economic unit with independent powers of decision and that its Board and management team retain responsibility and authority for determining PTSB's strategy and commercial policies and conducting its day-to-day operations
Should I be consulted on the sale of any part of the mortgage loan book in the future I will carefully consider the matter based on the facts and in particular the impact on PTSB's profit, capital and funding.
91. Deputy Michael McGrath asked the Minister for Finance if he has made representations to the banks to offer flexibility in repayment schedules for businesses and customers whose livelihood was impacted by recent severe flooding; and if he will make a statement on the matter. [8845/14]
View answerMy officials are in regular contact with the banks on various matters. Decisions in relation to repayment schedules for business or personal customers are operational matters for the management and boards of the banks concerned.
However, I welcome recent announcements by certain banks that they have decided to make available additional funding to people who have been affected by the recent inclement weather.
92. Deputy Michael McGrath asked the Minister for Finance if he will list for each commercial semi-State organisation the total dividend it paid to the State in 2013; and if he will make a statement on the matter. [8846/14]
View answerThe total dividends paid to the Exchequer in 2013 by commercial semi-State bodies were published in the end 2013 Exchequer Statement and are set out in the table:
|
Commercial semi-State body |
Total dividend paid |
|
ESB |
€139,463,125.36 |
|
Bord Gáis |
€49,871,305.00 |
|
Irish Life |
€40,000,000.00 |
|
Dublin Port |
€15,000,000.00 |
|
Aer Lingus |
€5,364,361.04 |
|
Irish Aviation Authority |
€5,015,000.00 |
|
Bord Na Mona |
€5,000,010.00 |
|
Eirgrid |
€4,000,000.00 |
|
Port of Cork |
€407,094.00 |
|
Galway Port |
€30,000.00 |
|
Total |
€264,150,895.40 |
No other dividends were received from semi-State bodies by the Exchequer in 2013.
Stocks or shares in commercial semi-State bodies, which were previously held by the Minister for Finance, were transferred to the Minister for Public Expenditure and Reform under Section 16 of the Ministers and Secretaries (Amendment) Act, 2011.
93. Deputy Michael McGrath asked the Minister for Finance the number of meetings that have taken place as part of the review of tax relief in the agricultural sector; when he expects a report on the subject to the published; and if he will make a statement on the matter. [8847/14]
View answerThe AgriTaxation Review is being managed by the AgriTaxation working group which is comprised of officials from the Department of Finance, the Department of Agriculture, Food and the Marine and the Revenue Commissioners.
This working group meets regularly and has ongoing discussions on AgriTaxation policy issues. The working group has held six meetings since June 2013 on the specific issue of the AgriTaxation Review.
The Review is being undertaken in line with Department of Finance policy to review major tax expenditures on a regular basis and follows on from recent reviews of the R&D tax credit, film relief and property reliefs.
There are two main elements to the Review, a public consultation and an external cost benefit analysis.
The public consultation part of the Review was launched by both Ministers last week and interested parties are invited to make submissions via the following websites: www.finance.gov.ie and www.agriculture.gov.ie.
As well as the public consultation process, it is envisaged that the Review will include an independent cost benefit analysis incorporating an international benchmarking exercise.
It is expected that a request for tender will be published shortly.
The objective of this Review is to identify what works and what doesn't, and ensure the existing level of tax expenditure leverages maximum benefit to this important sector of the economy. Any recommendations will be considered in the context of Budget 2015 and it is expected that the final report of the working group will be published around Budget time.
94. Deputy Terence Flanagan asked the Minister for Finance his views on the reason banking is more expensive for customers of AIB and Bank of Ireland in the Republic versus Northern Ireland; and if he will make a statement on the matter. [8855/14]
View answerBank fees, charges and commissions are subject to regulation under Section 149 of the Consumer Credit Act 1995, as amended. Section 149 came into effect in 1996 and currently requires that credit institutions, prescribed credit institutions and bureaux de change must make an application to the Central Bank if they wish to introduce a new customer charge or increase any existing customer charge in respect of certain services. Section 149 does not apply to interest rates; it applies to fees, charges and commissions only.
My Department recently published a review of the regulation of bank fees and charges which is available on the website www.finance.gov.ie.
The review found that:
- net fee and commission income divided by average assets in Irish banks was well below the average of their peers; and
- net fee and commission are lower in the Irish banks than in their European peers relative to net interest income.
The review concluded that it would not be appropriate to repeal Section 149 at this time. The lack of competition in the banking sector means that the repeal of section 149 would give unfettered price setting power to the incumbent banks. The report recommends that this issue should be revisited when competition in the banking sector has improved significantly.
In addition to the above, I can confirm for the Deputy that I have also received the following feedback from AIB and BoI in relation to the cost of banking for customers in the Republic of Ireland versus Northern Ireland:
Allied Irish Banks:
"The Central Bank of Ireland published research in 2011 which compared personal current account charges applied by banks in the Republic of Ireland with those applied by a selection of banks in the UK and Northern Ireland. This research identified structural differences between the markets with customers whose accounts stay in credit paying slightly higher fees in ROI than GB and Northern Ireland but customers whose accounts go out of order are paying much lower fees in ROI than GB and Northern Ireland. AIB pricing strategies for business and personal customers in GB and NI follow the prevailing structure for charging fees in those markets.
A Guide to Fees and Charges for Personal Accounts (including how to bank free of maintenance and transaction charges) can be found on AIB's website at http://www.aib.ie/personal/current-accounts/Personal-Current-Acc-Fees-Charge"
Bank of Ireland:
The current account markets in RoI and NI are not directly comparable; operating in different jurisdictions, cost structures and business and regulatory environments. The BoI Current Account proposition for RoI competes exceptionally well, reflects the market environment and provides good value to customers given the extensive range of services and solutions provided. Customers have banking access through the largest branch and ATM network, telephone, online and mobile banking services in Ireland. The Bank has been investing heavily in payments infrastructure (including SEPA), online and mobile propositions with further investment planned. There has been a considerable increase in the functionality and service provided to Current Account holders in recent years including developments such as Visa Debit, payments to mobile and contactless transactions. The RoI branch network of circa 250 outlets and phone contact centre are staffed by over 2,000 professionally qualified financial advisors around the country to support both personal and business customers".
The Bank of Ireland fees and charges can be found on the Bank of Ireland website at http://www.bankofireland.com/fees-and-charges-365-online/.
95. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8629/14]
View answer96. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8630/14]
View answer97. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8631/14]
View answer98. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8632/14]
View answer99. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8633/14]
View answer100. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8634/14]
View answer101. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8635/14]
View answer102. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8636/14]
View answer103. Deputy Noel Coonan asked the Minister for Education and Skills the position regarding a summer works scheme 2014 application in respect of a school (details supplied) in County Tipperary; when a decision will be made on the application; and if he will make a statement on the matter. [8637/14]
View answerI propose to take Questions Nos. 95 to 103, inclusive, together.
I wish to advise the Deputy that commensurate with the level of funding available for the Summer Works Scheme, applications are currently being assessed on a top down basis in accordance with the prioritisation criteria outlined in the governing Circular Letter for the Scheme. This Circular Letter (59/2013) is available on my Department's website www.education.ie. It is my intention to publish a list of successful applicants in early 2014.
