Written Answers Nos. 103 -117
103. Deputy Bernard J. Durkan asked the Minister for Finance if provision can be made statutorily or otherwise to ensure that venture capital purchasers of loan books are required to comply with guidelines set down by the Central Bank and the need to ensure the ongoing accommodation of borrowers who continue to make consistent efforts to meet repayment requirements; and if he will make a statement on the matter. [17767/16]
View answerAs the Deputy will be aware, the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted on 8 July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated entity. The 2015 Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. Credit Servicing Firms are now subject to the provisions of Irish financial services law that apply to 'regulated financial service providers'. This ensures that relevant borrowers, whose loans are sold to third parties, maintain the same regulatory protections they had prior to the sale, including under the various statutory codes, such as the Consumer Protection Code, the Code of Conduct on Mortgage Arrears and the Code of Conduct for Business Lending to Small and Medium Enterprises. The Act means that any purchasers of loans books are required either to become regulated themselves by the Central Bank or use a regulated credit servicing firm to service their loans.
The Act also ensures that a regulated credit servicing firm cannot do something, or fail to do something, which would be a prescribed contravention if performed, or not performed, by a retail credit firm. It also prevents the owner of credit from instructing a regulated credit firm to perform such an action, thereby further enhancing the consumer's protections.
The Central Bank is now the competent authority for the authorisation and supervision of credit servicing firms. Credit servicing firms must comply with all relevant requirements of financial services legislation, including the various codes mentioned already and Fitness and Probity Standards (including minimum competency requirements).
In addition to compliance with Central Bank codes of conduct, credit servicing firms will have to demonstrate to the Central Bank that they have:
- Robust governance and adequate resources to ensure compliance;
- Agreements with loan owners that enable the credit servicing firm to fully comply with its obligations under Irish financial services legislation; and
- Adequate and effective control of loan servicing in the State to enable Central Bank oversight.
Furthermore, the Code of Conduct for Mortgage Arrears (CCMA) provides protections for borrowers who endeavour to meet their commitments in relation to their mortgages and the 2015 Act ensures that these protections apply when a loan has been sold.
The CCMA sets out how mortgage lenders must treat borrowers in or facing mortgage arrears, with due regard to the fact that each case of mortgage arrears is unique and needs to be considered on its own merits. All cases must be handled sympathetically and positively by the lender, with the objective at all times of assisting the borrower to meet his/her mortgage obligations. The CCMA sets out the framework that lenders must use when dealing with borrowers in mortgage arrears or pre-arrears.
104. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which he remains satisfied regarding the continued competitiveness of the economy; and if he will make a statement on the matter. [17768/16]
View answerSubstantial progress has been made in improving Ireland's competitiveness in recent years. The latest figures from Eurostat, the statistics arm of the European Commission, estimated that nominal unit labour costs (a widely used measure of competitiveness internationally) in Ireland declined by 4.2 per cent annually in 2015. This is the largest decline across all EU Member States for which data are available.
The decline in unit labour costs in 2015 is a continuation of the trend of significant improvement in Ireland's economy-wide cost competitiveness since 2008 (the peak year for unit labour costs in Ireland). It is estimated that nominal unit labour costs in Ireland fell by 20 percent between 2008 and 2015. This compares with an increase of 9 per cent in the UK and in the euro area over the same period.
In addition, relatively low consumer price inflation in recent years has contributed to the improvement in Ireland's competitiveness as Irish price levels have fallen considerably relative to those of our euro area peers. For instance, annual HICP inflation in Ireland has been below or equal that of the euro area every year since 2008.
The gains in Irish competitiveness achieved since 2008 have been hard-won through productivity improvements and wage and price moderation. It is important that this competitiveness is preserved and continues to support growth. In this regard we must be cognisant that favourable exchange rate movements can reverse, as can be seen for example in the recent strengthening of the euro against sterling. Similarly gains from the fall in oil prices may unwind in the future. This highlights the importance of maintaining competitiveness-oriented policies to help address emerging uncertainties.
105. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which he has evaluated the likely future impact on financial and other markets in the event of a United Kingdom exit from the European Union; if events in the debate to date have been reflected in the markets; and if he will make a statement on the matter. [17769/16]
View answerThe Government's position on developments in relation to British membership of the EU has been clearly articulated, in particular by the Taoiseach and the Minister of Foreign Affairs and Trade: we very much want the UK to remain an integral member of the Union.
This is important for both our economy and the ongoing development of the excellent bilateral relations Ireland and the UK now enjoy; independent research indicates that Ireland is the EU Member State which would be most affected by any change in the EU/UK relationship.
In addition to the important bilateral considerations, we also believe that the EU itself is stronger and more effective with the UK as a member.
The UK's continued membership of the Union is therefore a matter of strategic importance for the Government. In this regard, Government Departments, including my own, have been working on this matter for some time. Under the Department of Finance/Economic and Social Research Institute (ESRI) research programme agreement, my Department commissioned research to be undertaken on scoping the potential economic implications on Ireland of a change in the EU/UK relationship. The research was published on 5 November 2015 and is an important contribution to understanding the potential issues arising.
In relation to financial and other markets it is clear that there has been heightened volatility in recent days and weeks and that this could have implications for the economy. In addition to the economic implications set out in the ESRI research I have outlined an assessment of the risks in the Summer Economic Statement.
My Department, and other Government Departments, are continuing our assessment of all the issues involved in protecting Ireland's interests and we are continuing to explore the potential risks and to plan accordingly.
106. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which variable mortgage interest rate charges can be brought into line with those applicable in adjoining jurisdictions, eurozone and otherwise; and if he will make a statement on the matter. [17770/16]
View answerAs the Deputy will be aware, the issue of variable rates in Ireland is a matter which I have been concerned about for some time. Last year I requested a report on the issue from the Central Bank. The Report entitled, 'Influences on Standard Variable Mortgage Pricing in Ireland' was subsequently published on the Department's website and is available here: http://www.finance.gov.ie/sites/default/files/Influences%20on%20SVR%20Pricing%20in%20Ireland.pdf.
This research identified three main reasons for higher rates in Ireland. First, the pricing of loans needs to reflect credit risks. In Ireland these risks are elevated due to high levels of non-performing loans and the lengthy and uncertain process around collateral recovery. Second, competition is weak. This is not unrelated to credit risks since high credit risk deters new players from entering the market. Third, bank profitability is still constrained by legacy issues. Profitability is essential to ensure banks build up adequate capital buffers to meet increasing regulatory requirements and to withstand future adverse shocks.
I also met with the main mortgage lenders in May last year and outlined my view that the standard variable rate being charged to existing and new Irish mortgage customers was too high. The banks agreed to review their rates and products and to have simple options to reduce monthly mortgage payments for standard variable rate customers. In September 2015 I concluded a series of follow up meetings with these banks and I think that it is fair to say that there have been considerable movements in the mortgage offerings of the Irish banks in the last twelve months. Furthermore, the fact that some of these offers have been announced recently is a vivid illustration of the effectiveness of the Government's policy, that competition is the best way to put pressure on the banks to reduce rates.
In this regard, I am pleased to note that a Central Bank statistical release of 10 June 2016 showed that Principal Dwelling House (PDH) mortgage rates fell across all instrument categories over the 12 month period ending in the first quarter of 2016. The most pronounced fall was observed for standard variable rate mortgages which declined by 49 basis points to 3.64 per cent over the year ending Q1-2016. Fixed rate PDH mortgage rates also declined, with rates fixed for 1-3 years falling by 34 basis points over the same period.
107. Deputy Michael McGrath asked the Minister for Finance the number of life loans in respect of residential properties in issuance here; the total amount owed on these loans, if such loans are still being marketed by banks, if he is satisfied that consumers are being made fully aware of the risk associated with a life loan; and if he will make a statement on the matter. [17790/16]
View answerI have been advised by the Central Bank that Lifetime Loans are regarded as a niche product and they have not been provided in the Irish market for a number of years. Loans of approximately €640 million to around 6,500 customers are currently outstanding.
The Consumer Protection Code 2006 and the Consumer Protection Code 2012 contain a number of provisions regarding the provision of information to consumers in respect of these products.
The Consumer Protection Code 2006 contains requirements relating to:
- advising the consumer of the consequences of the lifetime mortgage including details of total costs involved,
- making consumers aware of the importance of seeking independent legal advice
- inclusion of a warning on any information document, application form etc. that "Purchasing this product may negatively impact on your ability to fund future needs"
The Consumer Protection Code 2012 contains more comprehensive provisions, including informing the customer of:
- the consequences of purchasing a lifetime loan, the circumstances in which the loan will have to be repaid,
- details of the interest rate that will be charged,
- an explanation of the impact of the rolling up of the interest over the duration of the loan,
- an indication of the amount required to repay the loan at maturity, the effect on the existing mortgage, if any; and
- an indication of the likely early redemption costs which would be incurred if the loan was redeemed on the third and fifth anniversary of the loan and at five yearly intervals thereafter.
The Consumer Protection Code 2012 also requires, at least annually, the provision of a statement of account including the opening balance, all transactions, all interest charged, all charges, the outstanding balance and details of the interest rate(s) applied to the account during the period covered by the statement.
108. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Questions Nos. 224 to 227 of 17 February 2015, the status of the enforcement investigation by the Central Bank; the number of relevant customers who will be entitled to refunds; the total loss involved; when appropriate redress for those customers will be made; and if he will make a statement on the matter. [17791/16]
View answerThe Deputy's questions refer to an Enforcement Investigation by the Central Bank of Ireland ("CBI") into permanent tsb ("PTSB"). This Investigation relates to the circumstances in which the bank did not allow certain customers to move to or to return to a tracker rate mortgage at the end of a fixed rate term. I am informed by PTSB that this investigation is continuing.
PTSB has confirmed to me that while that investigation by the CBI is continuing, the bank has implemented a comprehensive Mortgage Redress Programme for relevant account holders. This was announced publicly in July 2015 and is being undertaken with oversight by the CBI.
That Mortgage Redress Programme identified 1,152 accounts with PTSB which were impacted by this issue. To date 1,030 of those accounts (approximately 90%) have been fully redressed. A further 32 are in the process of being redressed or have been partially redressed, 17 will receive redress in the future while the bank is awaiting forms from the relevant account holders in respect of 73 accounts. It is entirely at the discretion of the relevant account holders whether to return a form in this instance or not.
The Mortgage Redress Programme also identified 220 impacted accounts in Springboard Mortgages. In these cases 202 accounts (approximately 92%) have now been fully redressed and in the case of 18 accounts, the process is ongoing.
PTSB has confirmed to me that it is committed to continuing its work in respect of any outstanding cases including the hire of specialist agencies to seek to trace relevant account holders who may no longer be living at the correspondence address on the PTSB system.
To date the bank has redressed impacted accounts to the value of approximately €41 million. The majority of these impacted accounts were redressed before the end of 2015.
There are three elements to the redress referred to above:
- In the first place, redress refers to the process whereby the bank calculates the difference between the amounts actually paid in respect of the mortgage accounts since the bank failure took place and the amount that would have required to be paid had the failure not occurred. In order, any overpayment that is identified is set against any arrears on the account, or repaid to the relevant mortgage account, or where there are excess funds, repaid directly to the relevant account holders. This approach ensures that the mortgage account is correctly restored to the position it would have been in had the failure not occurred.
- Secondly, redress refers to the payment of compensation to relevant account holders.
- Thirdly redress refers to the payment of €400 to account holders for use, at their discretion, for independent financial advice.
Separately PTSB has put in place a comprehensive, independent appeals process to ensure that account holders who are unhappy with the bank's redress in this matter can seek an independent review of that redress.
Following this event last Summer, PTSB publicly announced that it had established a Mortgage Product Review Group (MPRG) to review the banks mortgage book in order to identify any other cases where the contractual terms and conditions attached to mortgage accounts were not being fully honoured by the bank or whether other material issues such as the provision of key information at relevant times require further examination. This work is ongoing.
PTSB is also participating fully in a separate CBI led review of tracker mortgages across all the main Irish banks.
109. Deputy Michael McGrath asked the Minister for Finance the proportion of bank current account customers who have switched current account in each year from 2010 to 2015; and if he will make a statement on the matter. [17792/16]
View answerFirst, I would like to highlight to the Deputy that the Central Bank's Code of Conduct on the Switching of Current Accounts with Credit Institutions provides a robust, time bound process for the switching of a current account from one credit institution to another. In November 2015 the Central Bank published a report, the Consumer Protection Bulletin on Current Accounts, showing the operation of this code under a number of headings. This report is available on the Central Bank's website.
All credit institutions providing current accounts in Ireland are subject to the Switching Code, which was introduced by the Central Bank in October 2010. Its purpose is to make the process of switching current accounts easier and quicker for consumers. In H1-2015, 99% of all current account switches were completed within the timeframes prescribed by the Code (which includes the transfer of all direct debits and standing orders).
The annualised figures for switching under the Code given in the Consumer Protection Bulletin are in the following table:
|
Year |
- |
- |
- |
- |
|
2011 |
4,8612012 |
8,0892013 |
15,0092014 |
32,571 |
The Central Bank do not have figures prior to 2011 and its most recent number is 5,374 for H1 2015.
I understand that there was a spike in numbers using the switching process in H2-2013 and H1-2014 which coincided with the withdrawal of current account providers from the market.
The report shows a total number of current accounts at H2 2013 of 5,429,498 meaning that 0.28% switched accounts using the Code in 2013. The total number of accounts at H2 2014 was 5,423,063 meaning that 0.61% switched using the Code in 2014.
The Deputy may also wish to note that the EU Payment Accounts Directive introduces a number of provisions in relation to payment accounts, including the need to have a clear, quick and safe procedure for consumers who wish to move their payment account from one payment service provider to another. The Directive must be transposed by 18 September 2016 and my Department is working with the Central Bank on how best to give effect to this requirement on switching.
110. Deputy Michael McGrath asked the Minister for Finance the number of credit unions who have applied for an exemption from the €100,000 maximum deposit in respect of individual accounts; the number of applications which have been granted; and if he will make a statement on the matter. [17793/16]
View answerThe Central Bank published the Application Form and Explanatory Note to retain individual members' savings in excess of €100,000, which were held at commencement of the Regulations, on 16 May 2016.
As set out in the application form (Appendix 2 - Additional Notes), the timeline for these applications to be submitted to the Central Bank is between 17 May 2016 and 27 June 2016. The Central Bank stated on the application form that where the application form has been fully completed and contains or includes all of the information requested, the Central Bank will endeavour to issue an approval letter or a letter indicating that the Central Bank is minded to refuse the application within one month of receipt of the complete application. In any event, the Central Bank will provide a response to all applicant credit unions on the outcome of their application by 26 August 2016.
I have been informed by the Central Bank that to date less than 10% of the credit unions who held individual members' savings in excess of €100,000 on 1 January 2016 have submitted applications to retain these individual members' savings.
Applications received to date by the Central Bank are under review in accordance with the process as set out in the application form (which includes the one month timeline referred to above.).
111. Deputy Michael McGrath asked the Minister for Finance the number of persons who were granted a personal increase in the standard fund threshold applying to their pension in 2015; the cumulative increase represented by these cases; the amount of tax foregone as a result; and if he will make a statement on the matter. [17794/16]
View answerI take it that the Deputy is referring to the facility available under the Standard Fund Threshold (SFT) regime whereby individuals can seek a Personal Fund Threshold (PFT) in certain circumstances.
The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes. Its purpose is to discourage over-funding and over-accrual of pension benefits through tax-relieved and tax-subsidised arrangements. The regime achieves this by imposing a significant tax charge on the value of retirement benefits above set limits when they are drawn down.
When the SFT limit was reduced in Budget and Finance Act 2011 to a level of €2.3 million, with effect from 7 December 2010, and was further reduced in Budget and Finance (No. 2) Act 2013 to €2 million, with effect from 1 January 2014, the clear legal advice to the Government (as at the time of the original introduction of the regime in 2005) was that an individual who had pension rights in excess of the SFT limit at the relevant dates was entitled to protect or "grandfather" those rights. Accordingly, the legislation provided that such individuals could protect their higher pension values, subject to certain ceilings and conditions, by applying to Revenue for a PFT certificate.
The Deputy is seeking to establish the cumulative level of protection afforded and the estimated tax foregone resulting from the grandfathering arrangements outlined above. In relation to the tax foregone as a result of the PFT legislation, the Revenue Commissioners are not in a position to compute this figure for a number of reasons such as, the fact that it is not known when exactly the individuals who have PFT's will retire; what tax free lump sums, if any, they may be entitled to take from their pension fund; what the tax rate will be when they retire and the size of their pension fund at retirement.
The concept of "tax foregone" is arguably more applicable in the context of tax reliefs where there is a choice as to whether to pursue the particular policy stance or not. In that regard, it is important to note that these grandfathering arrangements were not considered optional and were provided in the legislation following legal advice to that effect from the Attorney General. In other words, introducing the SFT regime to put an end to the provision of excessive pension pots at the expense of the general body of taxpayers required the simultaneous protection of pension rights that had been built up legitimately by individuals under the tax provisions that applied up to the relevant dates. This was the firm legal advice to the Government when the SFT was introduced and on each subsequent occasion that the SFT limit was reduced. The choice, therefore, was to introduce the SFT regime with grandfathering or not at all.
I am informed by Revenue that in 2015 they issued a total of 501 PFT certificates with a total value of €1,107 million. The combined overall total number and value of PFT certificates issued since 7 December 2010 is 1,584 and €4,387 million, respectively.
The cumulative additional value of pension benefits protected in 2015 as compared with the SFT limits applying amounted to €105 million. The cumulative additional value of pension benefits protected as compared with the SFT limits applying at 7 December 2010 and 1 January 2014, respectively, amounts to €942 million.
112. Deputy Michael McGrath asked the Minister for Finance the yield from excise duty and value added tax on the sale of alcoholic products, in each of the years from 2011 to 2015, broken down by reference to licensed premises and off-licences, in tabular form; and if he will make a statement on the matter. [17800/16]
View answerI am informed by the Revenue Commissioners that the total amount of revenue generated for the Exchequer in each of the past five years from Excise and VAT on Alcohol is as shown in the following table.
Information regarding the sale of alcohol either on or off premises is not available. Excise duty is collected on the release of product from bond rather than at point of sale. In addition, VAT receipts are estimated as VAT returns do not require the yield from a particular product or activity to be identified. The receipts for 2015 are provisional and may be subject to revision.
|
Year |
Excise |
VAT (Estimated) |
|
€m |
€m |
|
|
2011 |
830 |
1,014 |
|
2012 |
846 |
1,089 |
|
2013 |
1,002 |
981 |
|
2014 |
1,140 |
1,101 |
|
2015 |
1,172 |
1,132 |
113. Deputy Michael McGrath asked the Minister for Finance the meetings he or officials of his Department have had with representatives of advocacy groups on behalf of distressed mortgage holders, and persons whose mortgages have been, or may be, sold to third parties in each of the years 2013 to 2016 to date; the meetings in which he was personally in attendance; and if he will make a statement on the matter. [17804/16]
View answerThe Deputy will appreciate that as part of our remit on tackling the issue of mortgage arrears and consumer protection issues my officials and I regularly meet with relevant stakeholders. Based on a reasonable search of the material available in my Department in respect of meetings held with the main consumer advocacy groups, the following list sets out the meetings held.
These meetings do not include informal discussions in the margins of other events/engagements.
In this context the Deputy may wish to note that the Regulation of Lobbying Act 2015 provides for the establishment and maintenance of a publicly accessible register of lobbying. The purpose of the register is to make information available to the public on the identity of those communicating with Designated Public Officials.
Meetings with Representatives of advocacy groups on behalf of distressed mortgage holders and persons whose mortgages have been or may be sold to third parties:
2013
Meeting with Brendan Burgess
Meeting with Brendan Burgess and Seamus Coffey
2014
Meeting with David Hall Irish Mortgage Holders Organisation (IMHO).
Meeting with Free Legal Advice Centre (FLAC)
2015
3 Meetings with StepChange Debt Charity
Meeting with David Hall Irish Mortgage Holders Organisation (IMHO).
Meeting with Brendan Burgess on mortgage arrears
Meeting with Free Legal Advice Centre (FLAC)
Meeting with Brendan Burgess and Fair Mortgage Rate Campaign (Minister for Finance attended)
Meeting with Brendan Burgess, Karl Deeter and Seamus Coffey on mortgage arrears
Meeting with Phoenix Group (meeting hosted by Department of Taoiseach)
2016
Meeting with Brendan Burgess, Karl Deeter and Seamus Coffey.
The Deputy should also note that Carr Communications were selected in autumn 2015, following a public procurement exercise, to co-ordinate communications on the state services and supports available to borrowers in mortgage arrears. As part of this work, Carr Communications met with a wide range of stakeholders including advocacy groups for borrowers in distress.
114. Deputy Michael McGrath asked the Minister for Finance the yield from exit tax paid on life assurance policies, in each year from 2008 to 2015; if the same rate of exit tax applies to all persons, regardless of whether they are a standard or top rate taxpayer; if this represents fair treatment of lower income households; and if he will make a statement on the matter. [17846/16]
View answerThe yield from exit tax paid on life assurance policies, in each year from 2008 to 2015 is as follows:
|
Year |
Amount €m |
|
2008 |
89.9 |
|
2009 |
50.7 |
|
2010 |
31.2 |
|
2011 |
43.0 |
|
2012 |
43.4 |
|
2013 |
58.7 |
|
2014 |
129.9 |
|
2015 |
247.2 |
The tax applies on the happening of a chargeable event. A chargeable event would include the maturity or surrender of a life policy or the ending of each 8-year period beginning with the inception of the policy.
Generally, and subject to very limited exemption provisions, personal incomes from savings and savings products, other than State savings, by way of DIRT or exit taxes are subject to the same rate of tax which currently stands at 41%, irrespective of the individual's marginal income tax rate. I increased the rate to its current level in Budget 2014 as an incentive to spending in the economy which was vital for the creation of jobs. As is the case for all tax policies, issues relating to DIRT and exit taxes will be kept under review as part of normal Budget preparations.
115. Deputy Seamus Healy asked the Minister for Finance if he will recommend that small shareholders be compensated by the State, at least to the extent of the entitlement of depositors under the bank deposit guarantee scheme, given the conviction of two former executives of Anglo-Irish Bank on a charge of conspiring to defraud investors, that Government and his Department, the office of the regulator and the Central Bank were all aware of the relevant transaction in advance of the publication of the misleading accounts of the affairs of the bank and the other evidence and remarks of the judge in court (details supplied); and if he will make a statement on the matter. [17886/16]
View answerAs previously outlined to the Deputy in my answer to Parliamentary Question No. 108 on 16 June 2016, Anglo Irish Bank was nationalised on 15 January 2009 and on that date the Minister for Finance acquired all of the ordinary and preference share capital by virtue of the provisions of the Anglo Irish Bank Act 2009, therefore, as of that date, the ownership of the shares in Anglo Irish Bank would have transferred to the Minister for Finance. If the Government had not nationalised Anglo Irish Bank, the Bank had the potential to collapse and impact on the entire Irish banking system. At that time, shares were valued on the market in the region of €0.22. However in the event of the bank failing, Anglo Irish Bank's shares would have been worthless.
Sections 22-32 of the Anglo Irish Bank Corporation Act 2009 provide that the Minister for Finance shall appoint an Assessor at an appropriate time having regard to the public interest. The job of the Assessor is to independently determine the fair and reasonable aggregate value, if any, of the transferred shares and extinguished rights and the consequent amount of compensation, if any, that may be payable to persons in respect of Anglo Irish Bank shares transferred and rights extinguished under the Act. Since the liquidation of IBRC in February 2013, there has been no timeframe set for the appointment of an Assessor.
An update on the liquidation of IBRC can be found at http://www.finance.gov.ie/sites/default/files/Progress%20update%20report_31%20Dec%202015_0.pdf.
The Deposit Guarantee Scheme ("DGS") was established to protect depositors in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits. The DGS is part of the Central Bank of Ireland's strategy to ensure that the best interests of consumers of financial services are protected. The DGS is administered by the Central Bank of Ireland and is funded by the credit institutions covered by the scheme. The DGS was not established to protect equity investors.
116. Deputy John McGuinness asked the Minister for Finance if the Revenue Commissioners have investigated the reason a P45 was not issued to a person (details supplied). [17905/16]
View answerI am advised by Revenue that, based on the most up to date information available to them, the person concerned was not due to be issued with a P45.
If the person concerned has concerns as regards the accuracy of Revenue's information or about the payment of contributions on her behalf, she should contact her local Revenue District.
117. Deputy Josepha Madigan asked the Minister for Education and Skills if there is a scheme whereby a person who is 21 years of age, whose application is pending for refugee status, can attend college here and receive a grant for the purposes of attending college, if so, the body from which a grant may be obtained; and if he will make a statement on the matter. [17657/16]
View answerThe Deputy will appreciate that, in the absence of all of the relevant details that would be contained in an individual's application form and supporting documentation, it is not possible to say whether or not a particular student would qualify for a grant. However, for the Deputy's convenience I have outlined below the various options open to the student.
1. SUSI (Student Universal Support Ireland)
Under the terms of the statutory based student grant scheme, grant assistance is awarded to students who meet the prescribed conditions of funding, including those relating to nationality, residency, previous academic attainment and means. The eligibility of the individual to which the Deputy refers is a matter for SUSI (Student Universal Support Ireland) to determine; upon receipt of the relevant application form and supporting documentation. The SUSI online application process for 2016/17 is now open. Prospective students are advised to apply to SUSI (www.susi.ie) before the priority closing date of 8 of July.
2. Pilot Support Scheme
The Deputy will also be aware of my Department's Pilot Support Scheme which is targeted at students in the Protection System or at the Leave to Remain (but not deportation order) stage. Students who do not qualify for support under the statutory based scheme may be eligible to apply for this pilot scheme. To qualify for this scheme prospective students have to meet a number of criteria, including a requirement to have:
- 5 years in the Protection system at 31 August 2016;
- 5 years in the Irish school system as at 31 August 2016; and
- have obtained a Leaving Certificate. The closing date for receipt of applications for the 2016/17 academic year is 4 November 2016. Application forms can be accessed at www.education.ie/en/Learners/Services/Pilot-Support-Scheme/.
3. Tax Relief on Tuition Fees
Further information on this tax relief is available from the Revenue Commissioners on www.revenue.ie and
4. The Student Assistance Fund
Students in third-level institutions experiencing exceptional financial need can apply for support under the Student Assistance Fund. This Fund assists students, in a sensitive and compassionate manner, who might otherwise be unable to continue their third level studies due to their financial circumstances. Information on the fund is available through the Access Officer in the third level institution attended. This fund is administered on a confidential, discretionary basis.
