Thursday, 23 Oct 2014

Banking Sector Investigations

Questions (77)

Terence Flanagan

Question:

77. Deputy Terence Flanagan asked the Minister for Finance his views on an article (details supplied); and if he will make a statement on the matter. [40828/14]

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Written answers

A decision was taken by this House on the 7th of May to establish a Joint Committee to prepare a proposal for an inquiry relating to the banking crisis to be conducted in accordance with the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013.

That Committee met a number of times across the summer before submitting a proposal to the Committees on Procedure and Privileges (CPP) of Dáil Éireann and Seanad Éireann on the 26th of September and that proposal is currently being considered by the CPPs of both Houses.

The proposal states that the subject matter of the inquiry shall be to inquire into the reasons Ireland experienced a systemic banking crisis, including the political, economic, social, cultural, financial and behavioural factors and policies which impacted on or contributed to the crisis, by investigating relevant matters relating to banking systems and practices, regulatory and supervisory systems and practices, crisis management systems, and policy responses and the preventative reforms implemented in the wake of the crisis.

The Committee is proposing to inquire into these matters during the period between the beginning of 1992 (based on the effective implementation date of Basel I), and the end of 2013.

It is clear that the Oireachtas has determined that the Banking Inquiry is the appropriate mechanism by which to address the issue. I am confident that the Committee of Inquiry will inquire into its terms of reference thoroughly.

It would not be appropriate for me to comment on the inquiry while it is in progress but my Department and I will co-operate fully with it in its work.

Debt Collectors Regulation

Questions (78)

Bernard Durkan

Question:

78. Deputy Bernard J. Durkan asked the Minister for Finance if his attention has been drawn to the activities of a number of debt collection agencies, including the Irish Debt Bureau, which are used by a number of bodies to collect outstanding debts of unclear origin in some circumstances; if such collection agencies are exceeding their authority by their methodology; and if he will make a statement on the matter. [40840/14]

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Written answers

Minister for Finance

The Central Bank confirmed to me that debt collection firms, that is, firms that seek to collect debt due on behalf of creditors are not subject to authorisation and supervision in their own right by the Central Bank of Ireland.

In circumstances where a regulated financial service provider outsources its debt collection activities, any agent acting on behalf of that regulated financial services provider must comply with the requirements of Irish financial services law (including the CCMA) and failure to do so may result in the Central Bank imposing penalties on the regulated financial services provider concerned.

I should also point out that all debt collection firms are subject to the provisions of the Non-Fatal Offences against the Person Act 1997. Under section 11 of this Act, it is an offence to demand payment of a debt in a way that is designed to cause alarm, distress or humiliation. A person found guilty of offences under this Act is subject to large fines and up to 14 years imprisonment.

If the Deputy is aware of any breach of the law by the firm, he should inform the Garda Síochána of it.

Public Sector Staff Remuneration

Questions (79)

Peadar Tóibín

Question:

79. Deputy Peadar Tóibín asked the Minister for Finance the public services and semi-State companies under the remit of his Department that deliver bonuses to staff that need improvement. [41119/14]

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Written answers

Minister for Finance

In response to the Deputy's question, I am informed that none of the bodies under the remit of my Department deliver bonuses to staff that need improvement.

Public Sector Staff Remuneration

Questions (80)

Peadar Tóibín

Question:

80. Deputy Peadar Tóibín asked the Minister for Public Expenditure and Reform the public services and semi-State companies under the remit of his Department that deliver bonuses to staff that need improvement. [40796/14]

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Written answers

Minister for Public Expenditure and Reform

In response to the Deputy's question I can confirm that no organisation under my remit delivers bonuses to staff that need improvement.

Employee Shareholding Scheme

Questions (81)

Lucinda Creighton

Question:

81. Deputy Lucinda Creighton asked the Minister for Jobs, Enterprise and Innovation the reason he has not taken steps to promote employee share ownership of companies here; if he envisages an incentive scheme being put in place to this end; and if he will make a statement on the matter. [40816/14]

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Written answers

Minister for Jobs, Enterprise and Innovation

This Government fully supports Employee Financial Involvement and provides several schemes to encourage employees to take a share in their employing companies. Share based employee remuneration can significantly reduce fixed labour costs and capital requirements, thereby providing significant cash-flow benefits to an enterprise, particularly a high potential start-up. The extent to which a company can avail of tax efficient share based employee remuneration relief in Ireland, compared to other countries, plays a significant part in this country’s attractiveness to both entrepreneurs and multinational corporations.

Irish tax legislation allows for many types of schemes which facilitate employers who wish to allocate shares, or grant options to buy shares, to their employees. These include share option schemes, ‘save as you earn’ share option schemes, approved profit sharing schemes, restricted share schemes and employee share ownership trusts. It should be noted that there is no charge to Employer PRSI on share-based remuneration. The Government believes that the aforementioned schemes provide support and encouragement for employees to become involved in Employee Financial Involvement.

The recently published National Policy Statement on Entrepreneurship in Ireland contains an action to create a business environment, in terms of company law, taxation, regulation and licensing, which makes it is easy to start and grow a new business and makes Ireland one of the most attractive environments for entrepreneurship in Europe. My colleagues and I in Government are considering share ownership and other such measures contained in the Report. This discussion will feed into the Action Plan for Jobs process, which underpins the importance of fostering an environment that supports entrepreneurial activities and assists small businesses to expand, create jobs and contribute to national economic growth.

IDA Site Visits

Questions (82, 83, 84)

Peadar Tóibín

Question:

82. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation if he will provide in tabular form the number of site visits to each county by prospective Industrial Development Agency companies year on year between 2009 and to date in 2014. [40882/14]

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Peadar Tóibín

Question:

83. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation if he will provide in tabular form the number of Industrial Development Agency Ireland supported companies year on year in each county between 2009 and to date in 2014. [40883/14]

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Peadar Tóibín

Question:

84. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation if he will provide in tabular form the number of Industrial Development Agency Ireland supported part-time and full-time jobs year on year in each county between 2009 and to date in 2014. [40884/14]

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Written answers

Minister for Jobs, Enterprise and Innovation

I propose to take Questions Nos. 82 to 84, inclusive, together.

I am informed by IDA Ireland that from 2009 to the end of September 2014 there were a total of 2,025 IDA Ireland sponsored site visits by potential investors to various locations across the country. Details of the number of these site visits during this period are set out in the tabular statement (A).

The Forfas Annual Employment Survey reports on the number of jobs created and lost in companies that are supported by the enterprise development agencies. Data is collected on an annualised basis so the latest figures to hand are for 2013. Figures for 2014 will not be available until year end. Details of the total number of IDA Ireland supported full time and part time jobs in each year from 2009 to 2013 on a county by county basis, as well as the number of IDA Ireland client companies in each county in each of the years from 2009 to 2013 inclusive are shown in the attached tabular statement (B).

The Action Plan for Jobs 2014 includes a commitment to develop a framework for a Regional Enterprise Strategy to better integrate the efforts of the enterprise development agencies and other regional stakeholders in supporting enterprises. My intention is that the framework will be developed on a pilot basis initially, focusing on the Midlands region, and involving the agencies under the remit of my own Department – Enterprise Ireland, IDA Ireland and the Local Enterprise Offices. The objective is to enhance synergies between the agencies and their client companies and build on the competitive strengths of the region to maximise the potential for job creation. The role which other public bodies in the region can play in working towards this objective will also be examined as the project develops. The aim is that this framework will serve as a model for other regions of the country.

TABLE A

Table showing the number of IDA Ireland sponsored site visits by potential investors on a county by county basis from 2009 to the end of September 2014

County	2009	2010	2011	2012	2013	Jan-Sept 2014
Carlow	1	3	2	4	1	1
Cavan	0	3	0	3	2	1
Clare	9	7	15	14	5	9
Cork	29	44	27	38	31	26
Donegal	3	4	2	1	7	2
Dublin	90	197	150	196	180	184
Galway	22	41	35	18	15	16
Kerry	3	2	2	1	1	1
Kildare	1	2	3	1	1	1
Kilkenny	2	0	0	3	3	3
Laois	1	0	2	0	2	0
Leitrim	0	0	0	0	1	2
Limerick	18	38	40	30	23	21
Longford	0	0	0	0	0	0
Louth	28	25	26	12	4	10
Mayo	1	1	0	1	3	1
Meath	2	0	2	0	1	2
Monaghan	0	0	1	0	1	0
Offaly	6	7	1	3	1	0
Roscommon	0	0	0	0	4	0
Sligo	5	12	3	6	10	6
Tipperary	1	1	1	5	4	2
Waterford	8	11	11	26	14	8
Westmeath	14	22	15	7	9	8
Wexford	0	1	0	3	2	0
Wicklow	2	5	3	6	1	4
Total	246	426	341	378	326	308

TABLE B

Table shows the total number of IDA Ireland supported full time/part time jobs by county along with the number of IDA Ireland client companies from 2009 to 2013

Statistics

2009

2010

2011

2012

2013

Carlow

No. of Companies

Full Time Jobs

Part-Time/Other

431

316

391

123

506

139

578

157

Cavan

No. of Companies

Full Time Jobs

Part-Time/Other

1,074

100

1,078

117

1,066

106

1,080

1,101

Clare

No. of Companies

Full Time Jobs

Part-Time/Other

1,222

1,230

1,251

105

1,263

138

1,238

102

Cork

No. of Companies

Full Time Jobs

Part-Time/Other

135

19,872

2,584

134

20,298

3,650

132

21,428

3,510

137

22,584

3,629

144

23,537

3,817

Donegal

No. of Companies

Full Time Jobs

Part-Time/Other

1,697

128

1,633

221

1,882

224

2,050

178

2,207

174

Dublin

No. of Companies

Full Time Jobs

Part-Time/Other

505

49,417

4,339

503

49,222

4,497

519

52,536

5,127

545

55,929

5,909

565

58,603

7,720

Galway

No. of Companies

Full Time Jobs

Part-Time/Other

9,168

851

9,457

952

10,341

1,875

10,902

2,008

11,422

2,193

Kerry

No. of Companies

Full Time Jobs

Part-Time/Other

1,407

181

1,313

200

1,294

203

1,361

244

1,438

200

Kildare

No. of Companies

Full Time Jobs

Part-Time/Other

9,127

454

9,937

735

9,828

565

9,663

701

9,641

531

Kilkenny

No. of Companies

Full Time Jobs

Part-Time/Other

356

371

399

554

534

Laois

No. of Companies

Full Time Jobs

Part-Time/Other

115

124

100

Leitrim

No. of Companies

Full Time Jobs

Part-Time/Other

988

972

104

780

123

629

645

Limerick

No. of Companies

Full Time Jobs

Part-Time/Other

6,280

280

5,971

421

6,072

431

6,373

622

6,498

786

Longford

No. of Companies

Full Time Jobs

Part-Time/Other

781

658

608

644

649

Louth

No. of Companies

Full Time Jobs

Part-Time/Other

1,317

217

1,024

262

1,075

378

1,413

382

1,802

497

Mayo

No. of Companies

Full Time Jobs

Part-Time/Other

2,948

468

3,112

356

3,094

420

3,164

373

3,356

372

Meath

No. of Companies

Full Time Jobs

Part-Time/Other

1,116

114

1,075

139

1,100

170

1,065

139

1,077

137

Monaghan

No. of Companies

Full Time Jobs

Part-Time/Other

353

367

282

275

256

109

Offaly

No. of Companies

Full Time Jobs

Part-Time/Other

1,087

113

828

772

802

845

Roscommon

No. of Companies

Full Time Jobs

Part-Time/Other

765

709

748

785

786

120

Sligo

No. of Companies

Full Time Jobs

Part-Time/Other

2,190

166

1,999

184

2,041

268

2,052

205

1,828

262

Tipperary North

No. of Companies

Full Time Jobs

Part-Time/Other

362

277

296

290

308

Tipperary South

No. of Companies

Full Time Jobs

Part-Time/Other

3,376

397

3,255

416

3,060

335

2,915

478

2,697

358

Waterford

No. of Companies

Full Time Jobs

Part-Time/Other

5,622

699

5,329

783

4,631

559

4,518

505

4,657

418

Westmeath

No. of Companies

Full Time Jobs

Part-Time/Other

1,779

1,868

170

2,008

124

2,157

113

2,148

Wexford

No. of Companies

Full Time Jobs

Part-Time/Other

2,106

2,202

183

2,225

161

2,228

122

2,246

191

Wicklow

No. of Companies

Full Time Jobs

Part-Time/Other

2,353

263

2,323

255

2,142

255

2,067

331

2,102

341

Shannon Transfers 2013

No. of Companies

Full Time Jobs

Part-Time/Other

5,341

369

5,013

455

4,810

527

4,602

501

4,592

480