Written Answers Nos. 56-62
56. Deputy Michael McGrath asked the Minister for Finance the current number of vacancies at board level in agencies under the remit of his Department; and if he will make a statement on the matter. [51275/13]
Amharc ar fhreagraIn response to the Deputy's question the following table give details of the number of current vacancies on bodies under the remit my Department.
Board Vacancies
|
Name of Body |
No of current vacancies |
|
National Treasury Management Agency Advisory Committee |
2 |
|
National Pensions Reserve Fund Commission |
1 |
|
State Claims Agency Policy Committee (* It is proposed that this vacancy will be filled by a Department of Health nominee - A Department of Health representative has, by convention, been appointed to the SCA policy advisory committee) |
1* |
|
National Development Agency |
3 |
|
National Asset Management Agency |
1 |
57. Deputy Michael McGrath asked the Minister for Finance if logistical planning or consideration has been given to the Revenue Commissioners taking responsibility for collection of the new broadcasting charge or other payments including Health Service Executive charges, commercial rates, local government charges and court fines; and if he will make a statement on the matter. [51276/13]
Amharc ar fhreagraI understand that a Debt Management Review project is underway, under the auspices of the Department of Public Expenditure and Reform, to consider issues in relation to the collection of non-tax revenue. This review includes many of the items listed by the Deputy. Revenue is a member of the Project Team and is contributing its expertise to the project. A report of findings will be presented for consideration by Government in due course.
58. Deputy Michael McGrath asked the Minister for Finance if he plans to issue a formal response to the Irish Fiscal Advisory Council’s recent assessment of Government policy decisions; and if he will make a statement on the matter. [51277/13]
Amharc ar fhreagraAs the Deputy is aware, the most recent Fiscal Assessment Report from the Irish Fiscal Advisory Council was published last week. This report is currently being analysed by my Department and I intend to respond to the Irish Fiscal Advisory Council directly, in due course. As per commitments I have made before, there will be a comprehensive response to any Fiscal Assessment Report published by the Fiscal Council in either the Budget or the Stability Programme Update.
59. Deputy Michael McGrath asked the Minister for Finance if he is still considering changing the pay and file deadline from 2015 for self-assessed taxpayers; and if he will make a statement on the matter. [51278/13]
Amharc ar fhreagraThe Deputy will be aware that, following a consultation process in relation to changes required to the Pay & File dates, I have decided not to introduce any changes for 2014. However it remains my intention to bring the annual Pay & File dates forward. This is required in order to provide increased certainty around the annual tax take and forecasting process following the move to an earlier Budget Day necessitated by the adoption of the Two-Pack.
As I have previously noted, the scope for unanticipated events which would lead to either a higher or lower than projected outturn is considerably increased in the context of an October Budget. In addition the ability to project future yield is compromised. Consequently, measures which would result in improvements in the availability of information or increases in the proportion of total yield already available prior to the Budget have to be considered. In this regard, I would refer to the following comments from the recently published Fiscal Assessment Report of the Irish Fiscal Advisory Council;
"In summary, the movement of the Budget to October increases the risk that tax-forecasting and fiscal-deficit errors will be larger. This might warrant extra caution in setting the fiscal stance so as to ensure budgetary targets are met and fiscal rules are complied with. Moreover, this analysis takes no account of additional difficulties associated with preparing macroeconomic forecasts with two months fewer data. Recognising the issues arising from the existing structure of the Irish tax system, the Department of Finance has initiated a consultation process to bring forward the payment of taxes currently due in November."
However, given the results of the consultation process, I believe that it would be more appropriate to make any necessary changes next year, i.e. by means of Finance Bill 2014. These would then take effect, at the earliest, from 2015.
60. Deputy Michael McGrath asked the Minister for Finance if he will set out in tabular form the yield from the carbon tax levy in each year since its inception; if he will break down the annual yield by category of fossil fuel; and if he will make a statement on the matter. [51279/13]
Amharc ar fhreagraI am informed by the Revenue Commissioners that the yield from the Carbon Tax levy in each year since its inception is shown in the following table. It should be noted that the receipts shown for Carbon Tax for 2013 are provisional and subject to revision.
|
Carbon Tax |
2010 (€m) |
2011 (€m) |
2012 (€m) |
2013 (€m) – to end October |
|
Auto Diesel |
98.41 |
97.53 |
130.78 |
113.05 |
|
Petrol |
65.09 |
60.11 |
74.62 |
58.03 |
|
Aviation Gasoline |
0.04 |
0.04 |
0.05 |
0.02 |
|
Kerosene |
16.99 |
40.52 |
40.41 |
36.26 |
|
MGO |
27.03 |
48.95 |
54.72 |
51.20 |
|
Fuel Oil |
1.57 |
2.33 |
2.32 |
1.85 |
|
LPG (other) |
2.59 |
5.43 |
6.52 |
6.30 |
|
Auto LPG |
0.04 |
0.20 |
0.03 |
0.05 |
|
Natural Gas |
11.32 |
43.13 |
44.51 |
51.37 |
|
Coal* |
- |
- |
- |
3.03 |
|
Peat* |
- |
- |
- |
0.49 |
|
Total |
223.08 |
298.23 |
353.95 |
321.65 |
*commenced 1 May 2013
61. Deputy Michael McGrath asked the Minister for Finance when he will be in a position to confirm if a payment by the State to the National Asset Management Agency is required on foot of the liquidation of Irish Bank Resolution Corporation; and if he will make a statement on the matter. [51280/13]
Amharc ar fhreagraThe requirement for a payment from the State to NAMA, if any, will only be known once the liquidation process is completed. I have been informed by the Special Liquidators that they fully expect to comply with the time lines set out by me, as Minister, namely that the valuation of IBRC’s loan assets be completed by 30 November 2013 and that the sale of IBRC assets is agreed or completed by 31 December 2013 or as soon as practicable thereafter. In October 2013, I approved the on-going redemptions of NAMA Senior Notes issued to Central Bank of Ireland to provide consideration for the acquisition of bank assets from the Central Bank of Ireland in accordance with the Irish Bank Resolution Corporation Act 2013. To the 15 November 2013, €425m had been redeemed.
62. Deputy Michael McGrath asked the Minister for Finance if he is continuing to pursue with European authorities specific funding measures to address the impact of loss-making tracker mortgages on Irish banks; and if he will make a statement on the matter. [51281/13]
Amharc ar fhreagraAs the deputy will be aware, during recent Review Missions of the Troika the Irish authorities have discussed the issues relating to the high cost of funding banks’ tracker mortgage books and the related impact of the negative carry, relative to the interest rate received on the mortgages, on net interest margin and profitability. We are continuing to explore all possible options in lowering the funding costs associated with these assets. It should be pointed out that the impact of low yielding trackers has reduced considerably as a result of the tighter market spreads now being achieved by the Irish Banks when accessing the funding markets.
