Written Answers Nos. 81-96
81. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 238 of 18 February 2014, the number of jobs lost in the banking sector since 2011; and if he will make a statement on the matter. [3585/16]
View answerSince 2011 a number of banks have ceased operating in Ireland or have been merged into another institution (Anglo Irish Bank, Irish National Building Society, ACC, Bank of Ireland Scotland, Postbank, EBS and First Active). That said, a number of new entities have also become regulated providers of financial services in that time.
My Department has the following data available in relation to staff numbers at Irish banks in 2011 and the most recent figures available:
|
Bank |
Full Time Equivalent Staff Dec. 2011 |
Latest Figures for Full Time Equivalent Staff |
|
Bank of Ireland |
13,234 |
11,384 (30 June 2015) |
|
AIB |
14,501 |
10,204 (Dec. 2015) |
|
PTSB* |
2,305 ( as of Dec. 2012) |
2,449 (June 2015) |
* Permanent TSB staff numbers have fluctuated due to its separation from Irish Life in 2012, as a result the employee numbers presented in the 2011 accounts are not representative of the current Bank structure.
In relation to IBRC (in Special Liquidation), there are currently 25 staff remaining in IBRC, all of which are employed in the Republic of Ireland. 1,186 staff were employed by IBRC as at 31/12/2011 including staff in UK, USA and the rest of the world. 895 of these were employed in the Republic of Ireland.
In relation to Ulster Bank, as published in the Ulster Bank Limited Report of the Directors and Financial Statements of 31 December 2014, the number of staff employed by the Group excluding temporary staff was 5,007.
It is worth noting in relation to all the above figures that whilst staff numbers have reduced in certain institutions, some of these jobs have been outsourced and overall numbers employed have not suffered the full reduction.
The Quarterly National Household Survey shows the seasonally adjusted figures for those in employment in the "Financial, Insurance and Real Estate" sector. In Q4 2011 the figure was 104,100, while in Q3 2015, the figure is 98,800, a decrease of 5,300 in the space of four years.
82. Deputy Michael McGrath asked the Minister for Finance the number of certificates the Revenue Commissioners issued to sheriffs, the total value of the certificates and the amount of tax and interest collected in each of the past three years; and if he will make a statement on the matter. [3586/16]
View answerI am advised by Revenue that the total number and value of certificates issued to Sheriffs and the amount of tax/interest collected in each of the years 2013 to 2015 is set out in the following table.
|
Year |
No. of certificates |
Value €million |
Tax/Interest collected €million |
|
2013 |
28,795 |
€312 |
€150 |
|
2014 |
30,927 |
€284 |
€149 |
|
2015 |
28,477 |
€242 |
€143 |
83. Deputy Michael McGrath asked the Minister for Finance if he has examined the feasibility of having a specific inheritance tax allowance for the family home; the cost of introducing a €500,000 threshold in respect of the inheritance of family homes; and if he will make a statement on the matter. [3587/16]
View answerI have no plans to introduce a specific allowance for capital acquisitions tax (CAT) purposes in respect of the inheritance of the family home. It is already the case that an individual or individuals who are gifted or inherit the residence which is their home can, subject to conditions, be completely exempt from CAT in respect of that gift or inheritance. Otherwise, the values of assets transferred, including residential properties, are subject to relief from CAT by reference to a number of life-time tax-free thresholds based on the nature of the relationship between the disponer and the beneficiary and below which CAT does not arise.
Broadly, the Group A threshold deals with transfers between parents and their children and currently stands at €280,000, having been increased by me in Budget 2016 from a previous level of €225,000. It is within this category that I would expect that many of the transfers of what is generally being referred to as the family home would arise. The Group B threshold is €30,150 and deals broadly with transfers between other relatives while the Group C threshold deals with transfers in other cases and stands at €15,075. The values of gifts or inheritances received above the various thresholds are subject to CAT at the rate of 33%.
I have already indicated that I see the change to the Group A tax- free threshold in this year's Budget as the start of a process. Provided, among other factors, that our economic recovery continues, I would intend to examine the scope for further improvements in the tax-free thresholds in the future.
As regards the cost of a specific tax-free threshold for CAT purposes in respect of the family home, I am informed by the Revenue Commissioners that there is no reliable basis on which to provide such a costing using the data available as no distinction is made between a family home and a non-principal private residence in CAT returns. I have been previously informed by Revenue, however, that a further increase in the Group A tax-free threshold to €500,000 would cost about €74 million in a full year.
84. Deputy Jack Wall asked the Minister for Finance why local property tax in respect of a person (details supplied) in County Kildare is not being deducted from the person's State pension; and if he will make a statement on the matter. [3614/16]
View answerI am advised by Revenue that according to its records the person in question opted to pay his 2016 Local Property Tax (LPT) liability using the Payment Service Provider (PSP) method.
On foot of the Deputy's Question, Revenue made direct contact with the person who confirmed that he selected the PSP option in error and wished to meet his 2016 LPT liability via weekly deductions from his Department of Social Protection (DSP) pension payment.
The Revenue official explained to the person that the payment would be deducted in equal amounts over the remaining payment periods available over the course of the year. The person was satisfied with the arrangement and the Revenue official assisted him in setting up the required mandate.
Revenue has confirmed that the issue is now resolved to the person's satisfaction.
85. Deputy Tom Fleming asked the Minister for Finance to examine the excessive vehicle registration tax charge of €3,256 imposed on persons (details supplied) in County Kerry for the importation of a car; and if he will make a statement on the matter. [3615/16]
View answerI am advised by Revenue that the car in question does not appear to have been presented for registration. If the person concerned wishes to query the value they should contact Revenue's Central Vehicle Office at 053-9161200.
86. Deputy Fergus O'Dowd asked the Minister for Finance to note the report regarding a person (details supplied); to make urgent regulations to allow the person to benefit from the new scheme; and if he will make a statement on the matter. [3642/16]
View answerAs the Deputy is aware, the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, a fuel grant, and an exemption from Motor Tax.
I note the comments in the letter attached by the Deputy. I understand that the Secretary General of my Department has recently received a letter from the Ombudsman for Children outlining a number of concerns regarding the Scheme.
To qualify for the Scheme, an applicant must have a permanent and severe physical disability within the terms of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations (S.I. 353 of 1994) and satisfy one of the six medical criteria outlined in the Regulations. These are that a person must:
- be wholly or almost wholly without the use of both legs;
- be wholly without the use of one leg and almost wholly without the use of the other leg such that the applicant is severely restricted as to movement of the lower limbs;
- be without both hands or without both arms;
- be without one or both legs;
- be wholly or almost wholly without the use of both hands or arms and wholly or almost wholly without the use of one leg;
- have the medical condition of dwarfism and have serious difficulties of movement of the lower limbs.
The Scheme represents a significant tax expenditure. Between the Vehicle Registration Tax and VAT foregone, and the repayment of excise on fuel used by members of the Scheme represented a cost of €50.3 million to the Exchequer in 2015, an increase of 3.5% on the 2014 cost. This figure does not include the revenue foregone to the Local Government Fund in the respect of the relief from Motor Tax provided to members of the Scheme. In terms of the numbers of claims to the Scheme in 2015, there were 5,263 claims for relief from Vehicle Registration Tax and VAT, and 12,107 claims in respect of the repayment of excise on the fuel element of the Scheme.
I recognise the important role that the Scheme plays in expanding the mobility of citizens with disabilities, and I have managed to maintain the relief at current levels throughout the crisis despite the requirement for significant fiscal consolidation.
I frequently receive correspondence from applicants who do not meet the qualifying criteria but feel that they could benefit from the Scheme, such as is the case in the letter attached. While I am sympathetic to those, such as the person concerned, who do not qualify for Scheme, I cannot, at this time, in the still challenging fiscal environment and given the scale and scope of the Scheme, expand the medical criteria beyond the six currently provided for in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994.
87. Deputy Joan Collins asked the Minister for Finance if the Government is accepting the €2 billion offer from the Irish League of Credit Unions to build social housing; and if he will make a statement on the matter. [3644/16]
View answerAs I previously advised the Deputy, the credit union sector is aware of the need to consider ways of increasing its income and developing its business model. I am pleased that this topic is being seriously considered and that various options are being explored by the sector. My Department has received a number of proposals in relation to social housing. While the Department of the Environment, Community and Local Government is the Department primarily responsible for the formulation and implementation of policy and for the preparation of legislation in relation to housing, Department of Finance officials are working closely with them. While these proposals are at an early stage of development, a number of meetings were held with officials from both Departments to examine how credit unions can assist in the area of social housing.
I should point out that any such proposals are subject to the approval of the Registrar of Credit Unions at the Central Bank of Ireland who is the independent regulator for the credit union sector.
Section 44 of the Credit Union Act, 1997 provides that a credit union may establish a special fund to be used by the credit union for, social, cultural or charitable purposes by a resolution passed by a majority of its members present and voting at a general meeting. Where individual credit unions intend to establish such a fund the Central Bank would expect the credit union to take account of the need to ensure the protection of the funds of its members.
Commencement of the remaining sections of the Credit Union and Co-operation with Overseas Regulators Act 2012 on 1 January 2016 provides the Registrar of Credit Unions with the power to make regulations in relation to investments in projects of a public nature. This is specifically referenced in legislation and therefore such investments could be facilitated by future regulations, where appropriate, when there are specific proposals put forward by the credit union sector.
Prior to commencement of the legislation, following consultation between the Department of Finance and the Central Bank during the course of discussion on CP88, the Central Bank agreed to a modification in relation to this matter. Regulation 25(2) makes reference to the fact that the Central Bank may prescribe, in accordance with section 43 of the Credit Union Act 1997, further classes of investments for credit unions which may include investments in projects of a public nature. The regulation provides that investment in projects of a public nature include, but are not limited to, investments in social housing projects.
While the Government recognises the important role of credit unions as a volunteer co-operative movement in this country, the Government's priorities remain the protection of members' savings, the financial stability of credit unions and the sector overall and it is absolutely determined to support a strengthened and growing credit union movement.
88. Deputy Jerry Buttimer asked the Minister for Finance if he will review the take-liability for a person (details supplied) in County Cork; and if he will make a statement on the matter. [3685/16]
View answerI am advised by Revenue that an appeal has been lodged by the person concerned against assessments raised by Revenue. These assessments were raised in the absence of agreement on the quantum of tax due by the person concerned. The matter will be progressed further in light of the outcome of that appeal.
89. Deputy Michael McGrath asked the Minister for Finance the number of successful applications to date in each relevant area under the living city initiative; and if he will make a statement on the matter. [3702/16]
View answerI am advised by the Revenue Commissioners that, in relation to the Living City Initiative, applications are only required to be made to the relevant local authority under the residential element of the scheme. Applications are not required to be made under the commercial element of the scheme. Based on information received from the City and County Councils to date, the numbers of applications received under the residential element of the Living City Initiative, which meet the conditions of the scheme, per eligible city are as follows:
|
City |
Applications Received |
|
Dublin |
12 |
|
Cork |
2 |
|
Limerick |
0 |
|
Waterford |
7 |
|
Kilkenny |
2 |
|
Galway |
2 |
Dublin City Council and Cork City Council have both received, in error, two applications under the commercial element of the scheme, which are not reflected in the above numbers. Details of the numbers participating in the commercial element of the scheme will become available when the tax returns for 2015 are processed.
90. Deputy Michael McGrath asked the Minister for Finance the licence structure for licensed premises and off-licence premises; if he will link the licence fee paid by off-licence owners to the square footage of their premises; and if he will make a statement on the matter. [3703/16]
View answerI am informed by the Revenue Commissioners that the structure of licences for pubs and off-licences is provided for under the liquor licensing laws. With regard to off-licences, a separate licence is required to sell spirits, wine, beer, cider or sweets for consumption off the premises. The duty for each licence is €500 and is charged on a flat rate basis. Therefore, the annual licensing cost for a retailer selling wine only is €500 and the costs for a typical off-licence selling wine, spirits and beer is €1,500.
A spirit retailer's on-licence, i.e. a pub licence, allows the sale of any type of alcoholic beverage for consumption on or off the premises. As with an off-licence, a pub licence must be renewed annually. Licence duty is based on the annual turnover of the premises, less excluded turnover. Excluded turnover is turnover which is not related to the sale of alcoholic beverages, or turnover arising from the provision of meals. Different rates of licence duty apply depending on the band of turnover applicable to the premises. The following table sets out the pub licence duty rates currently applying to each band of turnover.
|
Turnover Band |
Licence Duty |
|
0-€190,499 |
€250 |
|
€190,500-€380,999 |
€505 |
|
€381,000-€634,999 |
€1,140 |
|
€635,000-€952,499 |
€1,775 |
|
€952,500-€1,269,999 |
€2,535 |
|
€1,270,000 + |
€3,805 |
Approximately half of all pub licences qualify for the €250 rate of duty.
I am not convinced that the Deputy's proposal of linking the licence fee to square footage would be practical to implement and I would have concerns that such a proposal may be open to inconsistent application.
91. Deputy Michael McGrath asked the Minister for Finance the amount of money that has been obtained in terms of the Revenue Commissioners' audit and investigation programmes in each of the years 2012 to 2015; and if he will make a statement on the matter. [3704/16]
View answerI am advised by the Revenue Commissioners that their Headline Results, which they publish each year on their website, provide details of the compliance yield arising from the various compliance programmes conducted by Revenue. These are available on Revenue's website at http://www.revenue.ie/en/about/publications/annual-reports.html and are shown on Page 3 of the annual Headline Results reports.
92. Deputy Michael McGrath asked the Minister for Finance the reports, reviews and studies he commissioned or agencies under the aegis of his Department commissioned since 9 March 2011, by date of commission, by date of completion, by date of publication, by cost in tabular form; and if he will make a statement on the matter. [3705/16]
View answerIn response to the Deputy's question please see in tabular form, the reports, reviews and studies commissioned by my Department (table 1), or agencies under the aegis of my Department (table 2) commissioned, since 9 March 2011, by date of commission, by date of completion, by date of publication and by cost.
Table 1 Department of Finance
|
Name |
External Consultant Report |
Cost |
Year |
Published |
|
Dr Don Thornhill |
Review of Local Property Tax |
Nil |
2015 |
Published - October 2015 |
|
ESRI |
Tax breaks and the residential property market |
€30,677.43 |
2015 |
Published - October 2015 |
|
IBFD |
Spillover analysis of the effects of the Irish tax system on the economies of developing countries |
€94,678.00 |
2015 |
Published - October 2015 |
|
Indecon |
Review of marine taxation |
€106,887.00 |
2015 |
Published - October 2015 |
|
Red C |
SME Lending Survey May 2015 - October 2015 |
€58,979.00 |
2015 |
Published September 2015** |
|
John Martin |
Assessment of special regeneration areas for the Living City Initiative |
€2,500.00 |
2015 |
Not published. Used as input to the decisions made on the special regeneration areas. The details of these areas were published when the Living City Initiative was launched |
|
Antaris Consulting |
The provision of a review of the current Health and Safety Arrangements within the Department of Finance and the Department of Public Expenditure and Reform. The final objectives are to update the Health and Safety Management Systems within both Departments in order to build on existing Health and Safety culture and practices within both Departments |
€16,113.00 |
2015 |
Not published. Internal Health & Safety report only. While the Department of Finance is the client the service is being provided to both the Department of Finance and the Department of Public Sector and Reform |
|
Red C Research & Marketing Ltd |
SME Lending Survey November 2014 - April 2015 |
€58,978.50 |
2015 |
Published - April 2015** |
|
Indecon |
Cost benefit analysis of Irish Agri-taxation measures and international benchmark against other Agri-taxation incentives |
€103,689.00 |
2014 |
Published - October 2014 |
|
Seamus Coffey |
Effective rates of corporation tax in Ireland |
€4,900.00 |
2014 |
Published - April 2014 |
|
ESRI |
Importance of tax policy in the location choices of multi-nationals |
€30,750.00 |
2014 |
Published - October 2014 |
|
ESRI |
Research Programme on funding for Small, Medium Enterprises |
€122,833.96 |
2014 |
Published - October 2014 |
|
Ernst & Young |
The historical development and international context of the Irish corporate tax system |
€6,150.00 |
2014 |
Published - October 2014 |
|
Red C Research & Marketing Limited |
SME Lending Survey April-October 2014 |
€58,978.50 |
2014 |
Published - November 2014** |
|
Red C Research & Marketing Limited |
SME Lending Survey October-March 2014 |
€58,978.50 |
2014 |
Published - June 2014** |
|
MKF Property Services |
Review of existing facilities management processes |
€28,720.50 |
2014 |
Published - June 2014 |
|
PMCA Economic Consulting |
Assistance and Analysis in the Preparation of the Medium-Term Economic Strategy 2014-2020 |
€49,043.00 |
2013 |
Final report submitted to the Department of Finance on 6 December 2013. It was not published because it was commissioned to provide evidence-based economic analysis as an input to the MTES. This analysis is reflected in the text of the MTES. |
|
ESRI |
Spatial Development Patterns - Implications for the Medium Term Economic Strategy (MTES) |
€4,624 |
2013 |
Not published. Used as input to MTES and analysis is reflected there. |
|
Crowe Horwath |
Report to Department in respect of a survey of R&D Active Companies 2013 |
€36,850.80 |
2013 |
Published |
|
Indecon |
Ex ante cost benefit analysis of proposed Living City Initiative |
€28,290.00 |
2013 |
Published |
|
Red C Research & Marketing Limited |
SME Lending Survey October-March 2013 |
€59,593.50 |
2013 |
Published** |
|
Red C Research & Marketing Limited |
SME Lending Survey April-September 2013 |
€58,978.50 |
2013 |
Published** |
|
Mercer (Ireland) Limited |
Remuneration Review of Covered Institutions |
€146,370.00 |
2013 |
Published |
|
Deloitte & Touche |
External Review of the Compilation of General Government Debt Statistics |
€ 61,553.00 |
2012 |
Published |
|
BDO and Amarach |
(a) Survey of audio-visual producers (b) Review on international review of audio-visual state supports |
€64,575.00 |
2012 |
Published |
|
Grant Thornton |
Assessment of Credit Review Office |
€31,807.80 |
2012 |
Published |
|
Mazars |
SME Lending Survey October-March 2012 |
€60,885.00 |
2012 |
Published** |
|
Citi |
Certain Banking Related Matters |
€25,000 |
2014 |
Ongoing - Not yet published |
|
Mazars |
SME Lending Survey April-September 2011 |
€52,453.50 |
2011 |
Published** |
|
Red C Research & Marketing Limited |
SME Lending Survey April-September 2012 |
€61,438.50 |
2012 |
Published** |
|
Charles River Associates |
Acquisition by AIB of EBS Building Society |
€50,000.00 |
2011 |
Published |
Note: This list does not include research outputs under the joint Macroeconomy and Taxation research programme between the Department of Finance and the Economic and Social Research Institute (ESRI).
Note*: Reimbursed by AIB & Bank of Ireland
Table 2 Bodies under the aegis of the Department of Finance
|
Body |
Reports, Reviews, Studies |
Date of Commission |
Date of Completion |
Date of Publication |
Cost |
|
Office of the Appeals Commissioners |
Nil |
Nil |
Nil |
Nil |
Nil |
|
C&AGs1 |
Information will be provided at a later date |
||||
|
Central Bank1 |
Information will be provided at a later date |
||||
|
Credit Reviewer |
Internal Audit review of control systems |
Oct 2014 |
Jan 2015 |
n/a |
€2,826 ex VAT |
|
Credit Union Advisory Committee |
Report by the Credit Union Advisory Committee on Credit Union Shared Branching |
Nov 2012 |
May 2013 |
June 2013 |
Nil |
|
|
Review of the Implementation of Recommendations in the Commission on Credit Unions Report |
27 November 2015 |
To present the Report of those findings including any recommendations to the Minister for Finance by 30 June 2016 |
To be published following presenting the report to the Minister for Finance |
Nil |
|
Credit Union Restructuring Board (ReBo) |
Credit Union Restructuring Board ReBo, Section 43 Review |
The Department of Finance carried out this Report at the request of the Minister for Finance to assist in the fulfilment of his obligations under Section 43 of the Credit Union and Co-Operation with Overseas Regulators Act 2012 to assess the extent to which ReBo completed the performance of its functions |
October 2015 |
21 October 2015 |
Nil |
|
Disabled Drivers Medical Board of Appeal |
Nil |
Nil |
Nil |
Nil |
Nil |
|
Financial Services Ombudsman Bureau |
Cold Case Review |
Commissioned March 2015 |
Completion Date August 2015 |
Date of Publication September 2015 |
€20,000 (Vat not applicable) |
|
|
Strategic and Operational Review |
August 2015 |
December 2015 |
TBC |
€90,290 Including Vat |
|
Financial Services Ombudsman Council |
Nil |
Nil |
Nil |
Nil |
Nil |
|
Investor Compensation Company Limited |
Nil |
Nil |
Nil |
Nil |
Nil |
|
Irish Bank Resolution Corporation |
Nil |
Nil |
Nil |
Nil |
Nil |
|
Irish Financial Services Appeals Tribunal |
Nil |
Nil |
Nil |
Nil |
Nil |
|
Irish Fiscal Advisory Council |
Fiscal Rules for Ireland, Hagemann, R. |
August 2011 |
January 2012 |
January 2012 |
15,750.07 |
|
|
Independent Review of IFAC, (Jonung, Begg and Tutty) |
December 2014 |
June 2015 |
June 2015 |
13755.62 |
|
National Asset Management Agency |
Projected Population Change and Housing Demand: A County Level Analysis - Edgar Morgenroth Published as part of the ESRI Quarterly Economic Commentary Summer 2014 |
June 2013
|
July 2014 |
July 2014 |
Papers were prepared by the ESRI as part of a two year research programme jointly funded by NAMA and the Banking and Payments Federation Ireland (BPFI). NAMA contributed €200,000 towards the research programme |
|
|
Alternative Scenarios for New Household Formation in Ireland David Duffy, David Byrne, John Fitzgerald Published as part of the ESRI Quarterly Economic Commentary Spring 2014 |
June 2013
|
April 2014 |
April 2014 |
|
|
|
The role of credit in the housing market Petra Gerlach-Kristen and Niall McInerney Working paper No.495 Census 2011 Micro-data (Demographic drivers of the housing market) |
June 2013
|
23rd December 2014 |
23rd December 2014 |
|
|
|
Household Formation and Tenure Choice David Byrne, David Duffy and John Fitzgerald Published as part of the ESRI Quarterly Economic Commentary Summer 2014 |
June 2013
|
7th August 2014 |
7th August 2014 |
|
|
|
A Review of Housing Supply Policies - Ciara Morley, David Duffy and Kieran McQuinn |
July 2014 |
December 18th 2015 |
December 18th 2015 |
|
|
|
Housing and Ireland's Older Population Alan Barrett, Elish Kelly and Kieran McQuinn |
July 2014 |
Not yet Finalised |
Not Yet Published |
|
|
|
From Planning to Completion: A County Level Analysis of Housing Supply - Edgar Morgenroth |
July 2014 |
Not Yet Finalised |
Not Yet Published |
|
|
|
Supply response in a turbulent market: A micro-level analysis of the Irish residential construction sector - Ciara Morley, David Duffy and Kieran |
July 2014 |
Not Yet Finalised |
Not Yet Published |
|
|
National Treasury Management Agency (The Board) 2 |
Report on Pay Disclosures Practices in Ireland |
January 2013 |
April 2013 |
N/a |
€10,031 |
|
|
Report on Employee Notice Periods and Post-Termination of Employment Obligations |
February 2013 |
March 2013 |
N/a |
€18,450
|
|
|
Economic Framework for Ireland Strategic Investment Fund |
September 2013 |
February 2014 |
N/a |
€133,578 |
|
|
High Level Review of NTMA Management and Organisational Structure |
November 2013 |
January 2014 |
N/a |
€243,540
|
|
|
NTMA Finance Function Review |
December 2013 |
February 2014 |
N/a |
€43,050 |
|
|
NTMA IT Function Review |
December 2013 |
February 2014 |
N/a |
€43,050 |
|
|
Benchmarking Methodologies for National Debt |
February 2014 |
July 2014 |
N/a |
€3000 |
|
|
Best Practice Corporate Governance Practices from a Shareholder Perspective |
February 2015 |
November 2015 |
N/a |
€19,680 |
|
|
SCA Resource Review |
June 2015 |
December 2015 |
N/a |
€86,063 |
|
|
Caps on Indemnity for Private Practice Consultants. |
June 2015 |
December 2015 |
N/a |
€47,355 |
|
|
Caps on Indemnity for Private Practice Consultants. |
October 2015 |
December 2015 |
N/a |
€10,626 |
|
Office of the Revenue Commissioners |
Cigarette Survey 2011* |
September 2011 |
June 2012 |
September 2012 |
€28,105 (inc VAT) |
|
|
Cigarette Survey 2012* |
September 2012 |
April 2013 |
November 2013 |
€28,105 (inc VAT) |
|
|
Cigarette Survey 2013* |
October 2013 |
April 2014 |
September 2014 |
€28,105 (inc VAT) |
|
|
Roll Your Own Tobacco Survey 2013 |
November 2013 |
April 2014 |
September 2014 |
€22,996 (inc VAT) |
|
|
Cigarette Survey 2014* |
October 2014 |
March 2014 |
August 2015 |
€28,105 (inc VAT) |
|
|
Roll Your Own Tobacco Survey 2014 |
October 2014 |
March 2014 |
August 2015 |
€22,996 (inc VAT) |
|
|
Cigarette Survey 2015* |
October 2015 |
In progress |
|
€28,105 (inc VAT) |
|
|
Roll Your Own Tobacco Survey 2015 |
October 2015 |
In progress |
|
€22,996 (inc VAT) |
|
|
Study of valuations of properties to support the introduction of Local Property Tax |
January 2013 |
February 2013 |
No report produced |
€56,653 (inc VAT) |
|
|
Revenue contribution to Department of Finance and Economic & Social Research Institute joint research programme |
January 2015 |
In progress |
|
€25,000 (to date) |
|
Social Finance Foundation |
A research report into a personal microloan scheme in Ireland |
May 2013
|
Oct 2014
|
May 2015 |
Total cost of €53,524 shared 50/50 with Central Bank of Ireland |
|
|
Mazars 'Micro SME Credit Patterns in Ireland' Incurred on behalf of Microfinance Ireland |
Feb 2014 |
April 2014 |
|
Total cost of €7,380 |
|
Strategic Banking Corporation of Ireland |
Amárach Research- SME market research |
January 2015 |
February 2015 |
N/A |
€10,762.50 |
|
|
Amárach Research- SME market research |
June 2015 |
July 2015 |
N/A |
€14,303.36 |
Note1: Information sought from the Office of the Comptroller and Auditor General and the Central Bank of Ireland is currently being collated and will be provided by separate correspondence to the Deputy in due course.
Note 2: Reports/reviews/studies commissioned by the National Treasury Management Agency are listed in table 2. The information recorded is for the period 9 March 2011 to date available at this time. For clarification purposes please note that "reports" in this regard does not include annual reports, reports undertaken pursuant to other statutory obligations or reports undertaken in the ordinary course of the NTMA's functions e.g. due diligence and similar reports.
note*: Cost of the cigarette surveys are split equally between Revenue and the HSE.
93. Deputy Michael McGrath asked the Minister for Finance the investment the German bank KfW has made here through the Strategic Banking Corporation of Ireland to date; and if he will make a statement on the matter. [3706/16]
View answerThe Strategic Banking Corporation of Ireland (SBCI) was created to ensure increased lending, at a lower cost, to Irish SME's by channelling lower cost financing from European Investment Bank (EIB) and KfW though lending partners known as on-lenders. The SBCI was launched in February 2015, and commenced lending via its initial on-lending partners, Bank of Ireland and AIB, in March 2015. KfW, the German State promotional bank, provided the SBCI with a funding facility of €150m for the purposes of providing lower-cost longer-term funding to Irish SMEs. The SBCI also has a funding agreement with the EIB for a finance facility of €400m.
The SBCI has made significant progress since its launch and to the end of December 2015 almost €172 million has been lent to c.4,600 SMEs across Ireland. The loans have been taken up by SMEs for a variety of purposes and across a range of sectors in the economy. More than 80% of loans were for investment purposes and the average loan size is approximately €37,000.
94. Deputy Michael McGrath asked the Minister for Finance the number of taxpayers within the high earner restriction analysed within the €125,000 to €250,000, €250,001 to €500,000, €500,001 to €750,000, €750,001 to €1,000,000, and €1000,000 plus bands, the estimated extra yield arising because of the restrictions in each of the years 2009 to 2012; and the estimated yield because of the restrictions in 2014 and 2015. [3707/16]
View answerA comprehensive analysis of the high earners restriction is published on an annual basis. These reports are available at my Department's website, http://www.finance.gov.ie and the website of the Revenue Commissioners at http://www.revenue.ie/en/about/publications/other.html#reports. At the time of publication, I also sent a copy of the reports to each of the main opposition Finance spokespersons.
The latest full year for which information is available is 2013 and the relevant analysis published is available at: http://www.revenue.ie/en/about/publications/ror-2013-report.pdf, or at: http://www.finance.gov.ie/what-we-do/tax-policy/publications/reports-research/restriction-reliefs/restriction-reliefs-report-3. Updates for 2014 and 2015 will be published in due course. The annual reports show the estimated yield arising and the distribution of taxpayers affected by income range. However, because of the Revenue Commissioners' obligation to observe confidentiality in relation to the taxation affairs of individual taxpayers and small groups of taxpayers, the specific breakdown by income bands requested by the Deputy is not provided in relation to certain incomes.
I am informed by the Revenue Commissioners that they are not in a position to estimate the yield in respect of the 2014 or 2015 tax years.
95. Deputy Michael McGrath asked the Minister for Finance the fees and costs of the administrators of Quinn Insurance in each year since the firm was placed in administration; and if he will make a statement on the matter. [3708/16]
View answerIn 2010, Joint Administrators were appointed by the High Court, at the request of the Central Bank of Ireland, because of concerns about the solvency position of Quinn Insurance Limited (QIL).
The following table sets out the total fees and costs inclusive of VAT incurred by Grant Thornton as Administrators of QIL for the period 2010 to end-September 2015.
All fees paid to Grant Thornton are submitted to and approved by the President of the High Court.
Fees and costs incurred by the Joint Administrators of QIL from 2010 to end-September 2015
|
2010 |
2011 |
2012 |
2013 |
2014 |
2015 Q1-Q3 |
|
|
€'000 |
5,637 |
7,533 |
2,668 |
2,852 |
1,105 |
460 |
96. Deputy Michael McGrath asked the Minister for Finance his estimate of the size of the economy's output gap; the implications of this for the Government’s taxation and spending plans; and if he will make a statement on the matter. [3709/16]
View answerEstimates of the output gap set out in Table 11 of the Budgetary documentation point to a positive output gap in the region of 2-2 ½ percent of potential GDP in 2015-2016, with this gap gradually closing over the forecast horizon to 2021. These estimates are based on the harmonised methodology for calculating output gaps commonly agreed at EU level. It is important to stress that this methodology has several shortcomings when applied to a small open economy and my Department has highlighted these in the past.
Estimates of the output gap are used in the calculation of the structural budget balance.
To comply with the balanced budget rule, the fiscal rules require that Ireland must achieve a 0.6pp improvement in the structural balance until the Medium Term budgetary Objective (MTO) is met. Specifically, the minimum annual improvement in the structural balance must be consistent with what is set out in the Commission's matrix of adjustment based on the cyclical position of the economy. Currently the MTO equates to a 0% of GDP structural balance for Ireland, with the possibility this may shortly be loosened to -0.5% of GDP. Further clarification from the European Commission is expected on this in the coming weeks.
Importantly, estimates of the output gap will vary depending on both the level and composition of budgetary packages pursued by the next government. Changes to the annual estimate of the output gap, which are widely recognised as being particularly volatile in an Irish context, will in turn affect the annual pace of structural budgetary adjustment.
Future taxation and spending plans will need to be framed in the context of achieving a balanced budget in structural terms and accordingly, compliance with spending ceilings imposed by the expenditure benchmark rule.
As set out in Tables A.8-A.9 of the Budget book, compliance with the expenditure benchmark suggests the availability of fiscal space of €10.9 billion in gross terms over 2017 to 2021. A decision by the next government to pursue a less stringent MTO (of up to -0.5% of GDP) would add an estimated €1-€1.5 billion to this gross fiscal space. However, anticipated spending obligations such as the cost of demographics, the Public Capital Programme and the Lansdowne Road Agreement will have to be met from within this gross spending envelope.
