Written Answers Nos. 160-185
166. Deputy Richard Bruton asked the Minister for Finance if the banks can extend a mortgage break to borrowers during the present severe restrictions on economic activity; and if he will make a statement on the matter. [8739/21]
View answerThe Central Bank has confirmed that there is no regulatory impediment to lenders offering payment breaks to borrowers, providing they are appropriate for the individual borrower circumstance. The BPFI also reiterated in January that standard payment breaks continue to be part of the wide range of tailored solutions which are being made available to customers upon assessment of their situation.
It is in the best long term interests of both the borrower and lender that engagement takes place in relation to a particular loan difficulty and that the most appropriate solution to the individual case is adopted as soon as possible.
Borrowers have a suite of regulatory protections, such as the Central Bank's Code of Conduct on Mortgage Arrears and the Consumer Protection Code, and lenders have specific obligations to support and work with borrowers who are continuing to experience loan difficulty because of COVID-19. The options could include additional flexibility, and this could be a short term arrangement such as additional periods without payments or interest-only repayments, or if appropriate more long term arrangements.
Through ongoing engagement with the BPFI and lenders, the Central Bank is working to ensure that borrowers affected by COVID-19 continue to be supported through this period of unprecedented stress. The Central Bank recently wrote to all lenders indicating that lenders are to ensure that they have sufficient expert resources to assess individual borrower circumstances, and to offer appropriate and sustainable solutions to affected borrowers in a timely manner in line with regulatory requirements and Central Bank expectations.
I will continue to work with the Central Bank, as regulator, to ensure that the Central Bank consumer protection and other applicable frameworks will be fully available to all borrowers that will still need support.
167. Deputy Michael Healy-Rae asked the Minister for Finance if a person (details supplied) can drive a UK registered car here for longer than 12 months; and if he will make a statement on the matter. [8742/21]
View answerI am informed by Revenue that a temporary exemption in situations outlined by the Deputy normally applies for a period not exceeding twelve months and, in such cases, there is no requirement to make a formal application. Where a longer period is being sought a formal application is required and, evidence of eligibility must be provided.
The person concerned should contact Revenue’s Central Vehicle Office (CVO) to make her application. The preferred means of contact is, online, through Revenue’s MyEnquiries facility and the claim for exemption should be submitted with any supporting documentation. The relevant instructions to be followed in MyEnquiries are:
Location: ‘Per – Central Vehicle Office’
Tax Type: ‘VRT’
Category: ‘TOR and Temp Exemptions Applic’.
Where an online application is not possible, the person concerned can send the application by post (marked FREEPOST) to:
Central Vehicle Office,
Office of the Revenue Commissioners,
Anne Street,
Wexford,
Y35 E29K.
169. Deputy Bríd Smith asked the Minister for Finance the amount of the revenue from excise duty on off-course betting paid into the Exchequer in 2000 in relation to section 12 Part 4 of the Horse and Greyhound and Racing Act 2001 given in Irish pounds and in terms of Euro according to the official conversion rate from punts to euro for 2000; and if he will make a statement on the matter. [8781/21]
View answer170. Deputy Bríd Smith asked the Minister for Finance the amount of the revenue from excise duty on off-course betting paid into the Exchequer in 2001 in relation to section 12 Part 4 of the Horse and Greyhound and Racing Act 2001 given in Irish pounds and in terms of Euro according to the official conversion rate from punts to euro for 2001; and if he will make a statement on the matter. [8782/21]
View answer171. Deputy Bríd Smith asked the Minister for Finance the amount of the revenue from excise duty on off-course betting paid into the Exchequer in relation to section 12, Part 4 of the Horse and Greyhound and Racing Act 2001 for each of the years 2002 to 2019, in tabular form; and if he will make a statement on the matter. [8783/21]
View answer172. Deputy Bríd Smith asked the Minister for Finance the amount that was determined for the years 2002 to 2019 to be equivalent to the revenue from excise duty on off-course betting paid into the Exchequer in 2000 in relation to section 12, Part 4 the Horse and Greyhound and Racing Act 2001 as increased by reference to the consumer price index for each of those years in tabular form; and if he will make a statement on the matter. [8784/21]
View answer173. Deputy Bríd Smith asked the Minister for Finance the amount of the excise duty on off-course betting paid into the Exchequer in 2020 in relation to section 12, Part 4 of the Horse and Greyhound and Racing Act 2001; and if he will make a statement on the matter. [8785/21]
View answer174. Deputy Bríd Smith asked the Minister for Finance if his Department receives information as to the proportion of the revenue from excise duty on off-course betting paid into the Exchequer each year in relation to section 12, Part 4 of the Horse and Greyhound and Racing Act 2001 that is due to betting on the greyhound industry, betting on the horseracing industry and betting on other sports or outcomes; if he will investigate whether such information is collected at the off-course betting sources and could be made available to his Department; and if he will make a statement on the matter. [8786/21]
View answerI propose to take Questions Nos. 169 to 174, inclusive, together.
Section 12 of the 2001 Act provides for the establishment of the Horse and Greyhound Fund. The allocations to the fund is primarily a matter for discussion between the Minister for Agriculture, Food and the Marine and the Minister for Public Expenditure and Reform in the context of the annual estimates campaign. There is no hypothecation of betting duty receipts to the fund.
I am advised by Revenue that the available information is the Betting Duty receipts since 2000, which are shown in the following table. A breakdown of these receipts based on the activity on which the duty was generated is not available.
|
Year |
Betting Duty Receipts (€m)* |
|
2000 |
58.9 |
|
2001 |
68.1 |
|
2002 |
48.0 |
|
2003 |
38.4 |
|
2004 |
45.6 |
|
2005 |
45.9 |
|
2006 |
54.3 |
|
2007 |
36.4 |
|
2008 |
36.7 |
|
2009 |
31.0 |
|
2010 |
30.9 |
|
2011 |
27.1 |
|
2012 |
27.1 |
|
2013 |
25.4 |
|
2014 |
26.2 |
|
2015 |
31.1 |
|
2016 |
50.7 |
|
2017 |
52.2 |
|
2018 |
52.3 |
|
2019 |
95.0 |
|
2020 (Provisional) |
86.8 |
*Converted from Irish pounds to Euro for relevant years.
175. Deputy Catherine Connolly asked the Minister for Finance if he will address a matter regarding the operations of the Revenue Commissioners in a case (details supplied). [8810/21]
View answerI am informed by Revenue that the motor dealer in question was requested to produce the required documentation to show that the vehicles had been imported into Northern Ireland in accordance with the Union Customs Code and the Ireland – Northern Ireland Protocol, including a copy of the import declaration, before they could be registered in the State. The dealer was unable to produce the required documentation and subsequently completed an import declaration to Revenue, following which the vehicles were registered. The dealer has indicated that he will lodge an appeal, this will be processed in the normal manner.
The Deputy will appreciate that with the application of customs duty and VAT at import on used cars imported into the State from Great Britain since 31 December, efforts are being and will continue to be made to route these importations through Northern Ireland to seek to avoid these charges. Given the changes to the UK VAT rules relating to used cars imported into Northern Ireland from Great Britain, which were announced in January and apply with effect from 31 December, Revenue has advised the public that such cars may be re-registered in the State only where they have been declared to Irish customs and customs duty and VAT at import has been paid.
Revenue’s website content is regularly updated based on feedback received from customers and in this instance while the wording was updated on 8 February the requirement that a customs declaration was required for vehicles being imported from Great Britain to the State did not change.
179. Deputy Róisín Shortall asked the Minister for Finance if he will engage with the banks to discuss the matter of mortgage approval expiration dates given that there is a six month expiration on mortgage approvals and currently there are no in-person viewings of properties for sale; if he will request the banks to extend approval periods in cases in which there has been no change of circumstance; and if he will make a statement on the matter. [8848/21]
View answerSince the COVID-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. In relation to the particular issue of new mortgage lending, the main retail banks previously confirmed that they are considering mortgage applications and mortgage drawdowns in relation to their customers who were impacted by COVID-19 on a case by case basis and that they are taking a fair and balanced approach. Lenders continue to process mortgage applications and have supports in place to assist customers impacted by COVID-19. Therefore, if mortgage applicants have any queries or concerns about the impact of COVID-19 on their mortgage application, they should in the first instance contact their lender directly on the matter.
Regarding the particular issue of extending the period of a mortgage approval in principle, the Central Bank has advised that there are no specific regulatory requirements relating to the duration of an approval in principle. That is a commercial and business matter for individual lenders. However, a lender should make the duration of any offer of approval in principle clear to a consumer, in line with the requirement of the Consumer Protection Code 2012 to provide clear information to a consumer and bring their attention to key information.
More generally there are certain consumer protection requirements which govern the provision of mortgage credit to consumers. For example, the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness with a view to verifying the prospect of the consumer being able to meet his or her obligations under the credit agreement. The CMCAR further provide that a lender should only make credit available to a consumer where the result of the creditworthiness assessment indicates that the consumer’s obligations resulting from the credit agreement are likely to be met in the manner required under that agreement. The assessment of creditworthiness must be carried out on the basis of information on the consumer’s income and expenses and other financial and economic circumstances which are necessary, sufficient and proportionate.
In addition, the Central Bank’s Consumer Protection Code 2012 imposes ‘Knowing the Consumer and Suitability’ requirements on lenders. Under these requirements, lenders are required to assess affordability of credit and the suitability of a product or service based on the individual circumstances of each borrower. The Code specifies that the affordability assessment must include consideration of the information gathered on the borrower’s personal circumstances and financial situation. Furthermore, where a lender refuses a mortgage application, the CMCAR requires that the lender must inform the consumer without delay of the refusal. In addition, the Code requires that the lender must clearly outline to the consumer the reasons why the credit was not approved, and provide these reasons on paper if requested.
180. Deputy Neale Richmond asked the Minister for Finance if he has considered implementing a tax incentive scheme on gym memberships or exercise classes when Covid-19 restrictions are lifted; and if he will make a statement on the matter. [8866/21]
View answerTaxation based measures are matters for consideration in the context of my Department's Tax Expenditure Guidelines and the annual Budget and Finance Bill process. I have no plans at present for a measure along the lines proposed by the Deputy.
In relation to fitness based measures more generally, I would point to the Cycle To Work scheme, introduced by Finance (No. 2) Act 2008. The scheme specifies that bicycles and associated safety equipment provided by employers to employees will be treated as a tax exempt benefit-in-kind subject to certain conditions being met. One of the benefits envisaged from the scheme was indeed that more people cycling to and from work would improve health and fitness levels. Further, Finance Act 2018 commenced the Accelerated Capital Allowances scheme for Childcare facilities and Fitness Centres. The scheme was introduced to encourage employers to develop childcare facilities and fitness centres onsite for their employees. The scheme provides accelerated allowances for qualifying buildings or structures over a seven year period and accelerated allowances for related equipment at 100% in year 1.
182. Deputy Sean Sherlock asked the Minister for Finance to outline details of the contracts for public relations advice and consultancy entered into by his Department over the cost of €10,000 since January 2021; the nature of the contract; and the length of the contract in tabular form. [8891/21]
View answerI can advise the Deputy that my Department has no contracts for public relations advice and consultancy over the cost of €10,000 since January 2021.
183. Deputy Sean Sherlock asked the Minister for Finance if there has been any contact with his counterpart in the United States. [8911/21]
View answerOn her appointment as Secretary of the US Treasury, I wrote to congratulate Janet Yellen. I have also written to Brian Deese, Director of the National Economic Council.
In my capacity as President of the Eurogroup, I participated in a meeting of G7 Finance Ministers and Central Bank Governors on 12 February, in which Secretary Yellen and Jerome Powell, Chair of the Federal Reserve, also participated. The focus of that meeting was supporting the economic recovery from the Covid crisis.
I look forward to the opportunity to speak with Secretary Yellen in the near future about our shared challenges.
