Written Answers Nos. 166-186
166. Deputy Catherine Murphy asked the Minister for Finance if it is still his policy to seek retrospective recapitalisation of formerly guaranteed institutions; the progress made to date; his views on comments made last month (details supplied) that the health of such banks now points towards a partial selling off of Government stakes; if this course of action is being considered; and if he will make a statement on the matter. [1648/15]
View answer172. Deputy Catherine Murphy asked the Minister for Finance if an application under the direct recapitalisation instrument of the European Stability Mechanism treaty to attain a retrospective recapitalisation of certain Irish financial institutions since the treaty has been constituted; if not, his plans to do so; when it will happen; if this option has been ruled out; and if he will make a statement on the matter. [1717/15]
View answer181. Deputy Catherine Murphy asked the Minister for Finance the discussions and or meetings he has held in the past six months with the European Central Bank and eurozone Ministers for Finance regarding the stated Government policy of seeking retrospective recapitalisation of formerly covered financial institutions; if he has conveyed any change in policy in this regard to them; and if he will make a statement on the matter. [1780/15]
View answerI propose to take Questions Nos. 166, 172 and 181 together.
As you will be aware, the 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 (ESM) could recapitalize banks directly.
As Minister for Finance, I attend regular meetings of the ECOFIN, the Eurogroup, and the Board of Governors of the European Stability Mechanism. The introduction of the ESM's Direct Recapitalisation Instrument (DRI), has been discussed on a number of occasions at those meetings.
On 8 December 2014, the ESM Board of Governors approved the creation of the DRI in accordance with Article 19 of the ESM. The operational framework for the DRI, approved on the same date, includes a specific provision in relation to the retroactive application of the instrument. The guideline states that the potential application of the instrument for this purpose should be decided on a case-by-case basis and by mutual agreement.
However, unlike back in 2012, the ESM is no longer the only option open to us to recover the money provided to recapitalise our banks. Investors are now willing to support Irish banks again and the market value of our investments has improved accordingly.
My overall objective in relation to the State's investment in the banks is to maximise the return to the Irish taxpayer over time. In line with this objective my Department is working with AIB, the institution where €20.8 billion has been invested, on reconfiguring the capital structure. I have also appointed Goldman Sachs International to provide financial advice. The focus will be on ensuring that the best decisions are made regarding potential capital restructuring options and sequencing in order to maximise the return of cash to the State from our AIB investments over time. While this is just the start of the process, it is an essential first step on the road to recovering value for the taxpayer.
All options remain on the table and it is too early to specify what steps will be taken next or indeed to put a timeline on decisions.
167. Deputy Tom Fleming asked the Minister for Finance if he will facilitate an initiative enabling an alliance of post offices and credit unions to grant loans to the general public, as together they could provide special social and community focused banking and this would be of mutual benefit to the existence of both services and it would help revitalise rural towns and villages; and if he will make a statement on the matter. [1656/15]
View answerThe credit union sector plays an important role in providing financial services nationally, but in doing so must retain the responsibility of ensuring members' funds are not put at undue risk.
While the Department receives many proposals on various issues, my Department received a proposal in August 2014 outlining a plan to establish and operate joint initiatives between participating Limerick County Credit Unions and An Post. This plan involves a Pilot Project that would see the channelling of some of An Post services through credit unions and also looks at the prospect of An Post providing some credit union services.
I am always open to considering proposals in relation to credit unions, particularly those that would see the development of the credit union business model and an increase in income for the sector. Having read this proposal I believe there is some merit in it. However, it must be stressed that the proposal is at a very early stage of development and would require additional work, as identified in the paper by the proposers, before it can be progressed further.
While officials from my Department met with one of the proposers of this plan on the 29 August 2014 to discuss its merits, such a proposal would require agreement from all stakeholders before a pilot project could be rolled out. A further meeting is scheduled with the proposer in the coming weeks to further discuss the matter.
The proposal was also forwarded to the Central Bank, the Irish League of Credit Unions, the Credit Union Development Association and the Credit Union Restructuring Board (ReBo). I have been informed by the Central Bank that they met with credit union representatives involved in the proposal in October 2014 and have provided feedback on the proposal. The feedback covered matters for consideration in further developing the proposal, including areas of the financial services legislation that apply to credit unions, such as requirements whereby individual credit unions can only provide services to their members rather than to the general public. The Central Bank have also indicated that they are available for further meetings with the relevant parties as appropriate.
The Registrar of Credit Unions at the Central Bank is responsible for the regulation of credit unions and as such, any proposal in relation to credit unions would be subject to regulatory approval by the Regulator.
168. Deputy Tom Fleming asked the Minister for Finance if he will provide details of all consultancy firms engaged by his Department during 2014; if he will also provide details of all the relevant fees paid to those firms during the period; and if he will make a statement on the matter. [1667/15]
View answerThe information requested by the Deputy is set out in the table below.
|
Consultancy Firm |
Amount |
|
Strata3 |
€25,392 |
|
Carlos Matos Chaves |
€759 |
|
Red C |
€117,958 |
|
Deloitte LLP |
€97,935 |
|
ESRI |
€141,262 |
|
Seamus Coffey |
€4,900 |
|
Tandem Consulting |
€10,000 |
|
MKF property |
€28,721 |
|
VMForensics |
€14,804 |
|
Central Bank |
€144,498 |
|
Storm Technology |
€75,122 |
|
Ronald Brandon Davies |
€2,775 |
|
Indecon |
€103,689 |
|
Ernst & Young |
€6,150 |
|
Agency Assessments |
€1,230 |
*Reimbursed by AIB and Bank of Ireland
For clarity - this table sets out consulting costs only. It does not include costs associated with legal services.
169. Deputy Pearse Doherty asked the Minister for Finance when the amendment to section 92 of Finance Act 1989, tax concessions for disabled drivers and so on in the Finance Act recently passed will come into effect; and if he will make a statement on the matter. [1676/15]
View answerSection 61 of the Finance Act 2014 amended section 92 of the Finance Act 1989 by removing the requirement, in the Disabled Drivers and Disabled Passengers Scheme, in respect of a disabled passenger, that the cost of vehicle adaptation should be more than 10% of the value of the vehicle excluding tax and duty. This amendment came into effect on 23 December 2014, the day the Finance Act 2014 was signed into law by the President.
170. Deputy Seamus Kirk asked the Minister for Finance the position regarding the announcement of a DIRT refund for first-time buyers, announced in budget 2015; and if he will make a statement on the matter. [1709/15]
View answerRelief from DIRT on savings used by first time buyers towards the deposit on a home was introduced from 14 October 2014. The estimated cost of the relief at the time of the Budget was €2.8m per year based on an estimate of 9,500 first time buyers.
I am advised by the Revenue Commissioners that they are currently planning the development of an online system to allow taxpayers claim their refund. It is envisaged that the claim system and relevant guidance will be made available in the first half of this year.
171. Deputy Jack Wall asked the Minister for Finance the reason a person (details supplied) has had an increase in their PAYE; and if he will make a statement on the matter. [1712/15]
View answerI am advised by the Revenue Commissioners that they have been in contact with the person's pension provider, which indicated that the person's tax credits were incorrectly applied for the initial pension payments in 2015. The pension provider has confirmed that they have now amended their records and the tax over deducted will be repaid directly to the person concerned.
Separately, the Revenue Commissioners have also advised me that following a review of the tax credits to which the person is entitled for 2015, they have arranged for the issue of a new tax credit certificate to the person and to the pension provider. This will result in a net increase in the tax credits to which the person is entitled for the 2015 tax year. When that certificate is received by the pension provider, less income tax will be deducted and any income tax already deducted over and above that due in 2015 will also be repaid.
173. Deputy Michael McGrath asked the Minister for Finance if he will provide a breakdown by company of the €475 million in dividends received from the State companies in 2014; and if he will make a statement on the matter. [1732/15]
View answerThe information requested by the Deputy is published as part of the Exchequer returns process and is displayed on the second page of the Exchequer Statement under non-tax revenue.
For convenience the requested information is reproduced in the table below. The figure of €10.701 million under the heading of "Other Dividends" has also been expanded to show the source of the dividends.
|
E.S.B. |
€269,117,188 |
|
Bord Na Mona |
€10,612,450 |
|
Dublin Port Company |
€8,000,000 |
|
IAA |
€4,833,000 |
|
Aer Lingus |
€5,364,361 |
|
Port of Cork |
€503,861 |
|
Coillte Teoranta |
€6,000,000 |
|
Ervia |
€171,000,000 |
|
Total |
€475,430,860 |
174. Deputy Michael McGrath asked the Minister for Finance if he will provide a breakdown by property of the €407 million received from the sale of State properties in 2014; and if he will make a statement on the matter. [1733/15]
View answerThe End December 2014 Exchequer Statement included capital receipts of €405 million under the heading "National Lottery License payment". This amount was paid by Premier Lotteries Ireland Limited for the licence to operate the National Lottery.
Further capital receipts of €1.86 million were received under the heading "Sale of State Property". These receipts are broken down as follows:
|
Proceeds of Sale of Land Navan Rd, Cabra |
€1,702,800.73 |
|
Sale of Coastguard Cottage no 12 Crosshaven Cork |
€130,000.00 |
|
Sale of plot of land adjacent to Skibbereen Garda Station |
€10,000.00 |
|
Return of Deposit for Decentralisation Carlow Co Council |
€25,000.00 |
|
€1,867,800.73 |
The alternative Exchequer Statement, which is published alongside the Exchequer statement, has both of these receipts combined under heading of "Sale of State Property".
175. Deputy Michael McGrath asked the Minister for Finance the reason local property tax receipts were 10.8% below target in 2014; and if he will make a statement on the matter. [1735/15]
View answer€491 million was collected in Local Property Tax (LPT) receipts in 2014 against a Budget 2014 forecast target of €550 million. The Budget 2014 forecast assumed that prepayments in 2014 of 2015 LPT liabilities would be similar to the significant pre-payments for 2014 liabilities of c. €75 million that were made in November and December 2013. However, there has been a significant behavioural change with a shift towards phased payments for 2015 LPT and pre-payments received in 2014 for 2015 are some €35 million lower than expected. In addition, fourteen of the thirty-one local authorities reduced the LPT rate that will apply for 2015, which has also impacted on the pre-payments received. Furthermore, following a review carried out by the Revenue Commissioners on payment methods and patterns, the Commissioners extended the payment deadline of the 1st of January 2015 to 7 January to take account of the holiday period and to avoid property owners having to pay their LPT before Christmas.
Finally, the target for 2014 LPT included an indicative estimate of additional Household Charge monies to be collected by Revenue. I am advised that, over the course of the year, as Revenue worked these cases, it became clear that a significant number of properties were exempt or not liable for Household Charge and so additional payments did not arise for these properties.
176. Deputy Michael McGrath asked the Minister for Finance the total amount of taxation raised from motorists in 2013 and 2014 from mineral oil tax, VRT, VAT, carbon tax and driver licensing receipts; and if he will make a statement on the matter. [1736/15]
View answer177. Deputy Michael McGrath asked the Minister for Finance the excise per litre charged on different categories of petrol, auto-diesel, kerosene, residual fuel oil for the manufacture of alumina, residual fuel oil for generation of electricity and for other purposes; and the revenue generated from each category. [1737/15]
View answerI propose to take Questions Nos. 176 and 177 together.
I am informed by the Revenue Commissioners that the total amount of taxation raised from motorists in 2013 and 2014 from Mineral Oil Tax (MOT), VRT, VAT, carbon tax is shown in the following table. It should be noted that the VAT figure is partially estimated and that all 2014 receipts are provisional at this time and may be subject to revision.
|
|
MOT |
Carbon Tax |
VAT (Estimated) |
Total |
|
|
€m |
€m |
€m |
€m |
|
Petrol |
|
|
|
|
|
2013 |
849.6 |
69.6 |
463.0 |
1,382.2 |
|
2014 |
800.0 |
65.7 |
440.0 |
1,305.7 |
|
Auto Diesel |
|
|
|
|
|
2013 |
1,133.5 |
137.2 |
75.0 |
1,345.7 |
|
2014 |
1,184.0 |
144.8 |
79.5 |
1,408.3 |
|
VRT |
€m |
|||
|
2013 |
437.3 |
|||
|
2014 |
541.4 |
|||
|
VAT on Cars (Estimated) |
€m |
|||
|
2013 |
269.0 |
|||
|
2014 |
355.0 |
The issue of driver licensing receipts is matter for the Department of Transport, Tourism and Sport and the Deputy should contact that Department directly.
In relation to Question 1737/15 , the reference to "residual fuel oil" is taken to refer to "fuel oil", a heavy oil suitable for industrial use, including electricity generation and for commercial heating purposes. Section 100 of the Finance Act 1999 provides a relief from excise duty on any mineral oil (including fuel oil) used for electricity generation, or in metallurgical processes, including the production of alumina. Consequently, no excise is generated from the consumption of mineral oils for these purposes.
The following table sets out the current excise rate per category of mineral oil and a summary of the excise receipts from each category in 2014. It should be noted that all 2014 receipts are provisional at this time and may be subject to revision. I am informed by the Revenue Commissioners that finalised data for 2013 and earlier years, on the annual amount of excise yielded by each category of mineral oil, is available on the Commissioners' statistics website at the following link under the "Excise Receipts" heading: http://www.revenue.ie/en/about/statistics/index.html.
|
Fuel |
Excise Rate* |
2014 Provisional Receipts* |
|
€ per 1,000 litres |
€m |
|
|
Petrol |
€587.71 |
865.7 |
|
Auto-diesel |
€479.02 |
1,328.8 |
|
Marked gas oil |
€102.28 |
92.5 |
|
Kerosene |
€479.02 |
Nil ** |
|
Marked kerosene |
€50.73 |
42.2 |
|
Fuel oil |
€76.53 |
2.7 |
*Includes carbon charge
** unmarked kerosene yielded no receipts in 2013 as it was used solely for tax exempt purposes, mainly as commercial aviation fuel.
178. Deputy Michael McGrath asked the Minister for Finance the cost to the State of reducing excise duty on petrol and diesel by 10% in each case; the impact per litre, including VAT, this would have on the retail selling price ceteris paribus; and if he will make a statement on the matter. [1742/15]
View answerI am informed by the Revenue Commissioners that the estimated annual Exchequer cost of reducing the excise duty on petrol and diesel by 10% is around €96m and €127m respectively. The impact per litre is shown in the following table:
|
|
Current |
Total Excise & Carbon |
Average Price |
|
|
Average Price |
Reduction |
Less Reduction |
|
|
Per Litre |
(VAT inclusive) |
Per Litre |
|
|
Cent |
Cent |
Cent |
|
Petrol |
129.9 |
7.2 |
122.7 |
|
Auto-diesel |
121.9 |
5.9 |
116.0 |
179. Deputy Catherine Murphy asked the Minister for Finance if he will provide details of all transfers which have taken place from the local government fund to the Central Fund in 2014 by date and amount concerned; all transfers which took place in the reverse by date and amount; and if he will make a statement on the matter. [1750/15]
View answerSection 157 of the Finance (Local Property Tax) Act 2012, as amended, provides that, in each financial year commencing with 2014, the Minister shall pay from the Central Fund or the growing produce thereof into the Local Government Fund an amount equivalent to the Local Property Tax (LPT), including any interest paid thereon, paid into the Central Fund during that year.
During 2014, the Exchequer received €491,351,000 in tax receipts in respect of LPT. By year end €483,580,000 was transferred from the Exchequer to the Local Government Fund, as detailed in the table below. The balance of €7,771,000, which relates to LPT receipts from 30 and 31 December 2014, will be transferred from the Exchequer to the Local Government Fund during January 2015.
|
Transfers to the Local Government Fund from the Exchequer during 2014 |
|
|
30th July |
€309,970,000 |
|
8th December |
€138,637,000 |
|
23rd December |
€26,733,000 |
|
31st December |
€8,240,000 |
|
Total |
€483,580,000 |
Regarding specific transfers from the Local Government Fund to the Exchequer during 2014, the Local Government Act 1998, as amended by the Local Government Reform Act 2014, provided for a transfer of up to €600 million from the Local Government Fund to the Exchequer upon a request from the Minister for Finance made before the end of 2014.
€520 million was requested by the Minister for Finance to be transferred to the Exchequer on 24 December 2014. The €520 million amount includes receipts from motor tax measures introduced in Budgets 2012 and 2013 to assist with deficit reduction.
180. Deputy Catherine Murphy asked the Minister for Finance in view of the proceeds from the sale of the combined portfolio off floating rate notes and fixed rate bonds which had been acquired by the Central Bank of Ireland following the liquidation of IBRC, the amount of these proceeds which were destroyed in 2014; the dates this occurred; the amount of interest which was paid in 2014 on the elements of the bond portfolio; and if he will make a statement on the matter. [1778/15]
View answerAs part of the liquidation of the Irish Bank Resolution Corporation (IBRC) on 6 February 2013, the Central Bank of Ireland acquired €25.034 billion long-dated Irish Government Floating Rate Notes (FRNs) and €3.461 billion of the Irish Government 2025 Fixed Rate Bond. The table below sets out the various notes, the applicable interest rate, the maturity date for each bond and the nominal amounts originally acquired by the Central Bank. Reported subsequent movements in the Central Bank's holdings are reflected in the notes below.
Full details of the bonds including the offering circulars can be found on the NTMA website at http://www.ntma.ie/business-areas/funding-and-debt-management/government-bonds/
|
Note Type |
Rate |
Maturity |
Nominal |
|
Floating Rate Note |
Euribor+268bps |
06/18/53 |
5,034 |
|
Floating Rate Note |
Euribor+267bps |
06/18/51 |
5,000 |
|
Floating Rate Note |
Euribor+265bps |
06/18/49 |
3,000 |
|
Floating Rate Note |
Euribor+262bps |
06/18/47 |
3,000 |
|
Floating Rate Note |
Euribor+260bps |
06/18/45 |
3,000 |
|
Floating Rate Note |
Euribor+257bps |
06/18/43 |
2,000 |
|
Floating Rate Note |
Euribor+253bps |
06/18/41 |
2,000 |
|
Floating Rate Note |
Euribor+250bps |
06/18/38 |
2,000* |
|
Fixed Rate |
5.40% |
03/13/25 |
3,461** |
*On 22 December 2014, the NTMA announced the cancellation of €500m of the Irish Floating Rate Treasury Bond due to mature on 18 June 2038, following their purchase from the Central Bank of Ireland. Following the cancellation, the total nominal outstanding for this bond has declined from €2bn to €1.5bn thus reducing the Central Bank of Ireland's overall holding of Irish Government Floating Rate Notes relating to the liquidation of IBRC from €25.034bn to €24.534bn.
** By end December 2013 the Central Bank had sold €350 million of the Fixed Rate 5.4% 2025 Irish Government Bond. As of 8 January 2015, the total nominal outstanding of the 5.4% 2025 Irish Government Bond was €11,745m.
In its 2013 Annual Report the Central Bank stated that it intends to sell the combined portfolio of the FRNs and the fixed rate bond as soon as possible, provided conditions of financial stability permit. The Bank stated it will sell a minimum of these securities in accordance with the following schedule: to end 2014 (€0.5 billion), 2015-2018 (€0.5 billion per annum), 2019-2023 (€1 billion per annum), and 2024 on (€2 billion per annum until all bonds are sold). As part of these minimum sales, the Bank sold €350 million of the 5.4% Irish 2025 Government Bond by end December 2013. There were no sales, purchases or transfers of FRNs in the year 2013.
I have been advised by the NTMA that total cash interest payable on the floating rate bonds in 2013 was €638 million and total cash interest payable in 2014 was €755 million. The increase in interest payable in 2014 compared to 2013 largely reflects the fact that a full year's interest was payable in 2014.
As per its 2013 Annual Report the CBI sold €350 million of its holdings of this bond in 2013. However, as the CBI's holdings of this bond during 2014 are not known, it is not possible to state the level of interest the CBI received on its holdings in 2014.
The next Central Bank of Ireland annual report will contain the updated overview of their holdings of these bonds as at YE2014 and is expected to be published in April 2015.
182. Deputy Brendan Smith asked the Minister for Finance if he will provide in tabular form the number of EU directives which remain to be implemented within his Department; the name of these directives; the timeframe for the implementation of these directives; and if he will make a statement on the matter. [1793/15]
View answerI am setting out, in tabular format, the EU Directives which remain to be implemented by my Department.
|
Directive |
Transposition Deadline |
Additional Comments |
|
|
2009/138 |
Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance
|
31/03/2015 |
|
|
2013/50 |
Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 amending Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and Commission Directive 2007/14/EC laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC
|
11/11/2015 |
|
|
2014/17 |
Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010
|
21/03/2016 |
|
|
2014/49 |
Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes
|
03/07/2015 |
|
|
2014/51 |
Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority)
|
31/03/2015 |
|
|
2014/57 |
Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse
|
03/07/2016 |
|
|
2014/59 |
Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council
|
31/12/2014 |
Expected completion by end Q1 2015. |
|
2014/65 |
Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU
|
03/07/2016 |
|
|
2014/86 |
Council Directive 2014/86/EU of 8 July 2014 amending Directive 2011/96/EU on the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States. Subsequent amendments have been made to Article 1 by Interinstitutional Agreement , Ref No 16633/14, with the same implementation date.
|
31/12/2015 |
|
|
2014/91 |
Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions
|
18/03/2016 |
|
|
2014/92 |
Directive 2014/92/EU of the European Parliament and of the Council on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features
|
18/09/2016 |
|
183. Deputy Barry Cowen asked the Minister for Finance the number of secondments from the Office of the Revenue Commissioners and his Department respectively to external accountancy firms and consultancy firms in 2010, 2011, 2012, 2013, 2014 and to date in 2015; the firms involved; and if he will make a statement on the matter. [1804/15]
View answerI wish to inform the Deputy that 1 member of staff of my Department was seconded to PWC during the years 2010 to date in 2015.
I am advised by the Revenue Commissioners that there have been no such secondment arrangements in respect of the periods referred to.
184. Deputy Barry Cowen asked the Minister for Finance the number of secondments from external accountancy firms and consultancy firms currently on secondment within the Office of the Revenue Commissioners and his Department respectively; the firms involved; and if he will make a statement on the matter. [1805/15]
View answerI wish to advise the Deputy that currently there are 6 people on secondment to my Department from external accountancy firms and consultancy firms. The firms involved are AIB, PWC, A&L Goodbody, Dillon Eustace, Matheson and the Irish Funds Industry.
These secondments supplement the skills and numbers in key/critical areas of my Department.
I am advised by the Revenue Commissioners that there are no secondments from external accountancy firms and consultancy firms within the Office of the Revenue Commissioners.
185. Deputy Micheál Martin asked the Minister for Finance if he will provide in tabular form the number, name and date of Bills initiated in his Department that have been subject to the pre-legislative scrutiny procedure in the Oireachtas. [1814/15]
View answerFollowing changes to Standing Orders (agreed by the Dáil on 17 October 2013), Ministers are now required, except in exceptional circumstances, to bring the general scheme or draft heads of a Bill to a Select Committee for consideration.
Committees are empowered to consider the draft Heads of Bills but they are not required to do so it is the Committee's prerogative to decide on a case by case basis whether it wishes to engage in pre-legislative scrutiny on any particular Bill.
The table below provides details of the bills initiated by the Department of Finance on which the Committee held a pre-legislative scrutiny hearing.
|
Number of Bill |
Name of Bill |
Date initiated |
|
27 of 2014 |
Central Bank Bill 2014 |
7 April 2014 |
|
87 of 2014 |
European Stability Mechanism (Amendment) Bill 2014 |
26 September 2014 |
The Central Bank Bill 2014 underwent Pre-legislative Scrutiny on 26 March 2014. The European Stability Mechanism (Amendment) Bill 2014 underwent Pre-legislative Scrutiny on 24 September 2014.
A pre-legislative scrutiny hearing was also held on 3 December 2014 in relation to the Consumer Protection (Regulation of Credit Servicing Firms) legislation which received Government approval to publish on 8 January 2015.
186. Deputy Micheál Martin asked the Minister for Finance if he will provide in tabular form the number, name and date of Bills initiated in his Department since September 2013. [1829/15]
View answerA total of nine bills have been initiated by the Department of Finance since September 2013. The table below provides details of the number, name and date initiated of each Bill.
|
Number of Bill |
Name of Bill |
Date initiated |
|
102 of 2013 |
Finance (No. 2) Bill 2013 |
24 October 2013 |
|
27 of 2014 |
Central Bank Bill 2014 |
7 April 2014 |
|
44 of 2014 |
National Treasury Management Agency (Amendment) Bill 2014 |
16 May 2014 |
|
66 of 2014 |
Strategic Banking Corporation of Ireland Bill 2014 |
4 July 2014 |
|
78 of 2014 |
Irish Collective Asset-management Vehicles Bill 2014 |
29 July 2014 |
|
87 of 2014 |
European Stability Mechanism (Amendment) Bill 2014 |
26 September 2014 |
|
92 of 2014 |
Customs Bill 2014 |
3 October 2014 |
|
95 of 2014 |
Finance Bill 2014 |
23 October 2014 |
|
108 of 2014 |
Central Bank (Amendment) Bill 2014 |
5 December 2014 |
