Finian McGrath
Ceist:78. Deputy Finian McGrath asked the Minister for Finance the cost of increasing group B of capital acquisitions tax from €30,175 to €33,000 per year; and if he will make a statement on the matter. [42016/15]
Amharc ar fhreagraTax Code
Ceisteanna (78)
Freagraí scríofa
I assume that the Deputy is referring to the annual cost of increasing the Capital Acquisitions Tax category B threshold, which applies to gifts and inheritances from brother, sister, niece, nephew or grandchild, from the existing threshold of €30,150 to €33,000.
I am advised by the Revenue Commissioners that the cost of increasing the category B threshold to €33,000 would be approximately €7 million on a full year basis and €6 million on a first year basis.
Tax Reliefs Availability
Ceisteanna (79)
Robert Dowds
Ceist:79. Deputy Robert Dowds asked the Minister for Finance if there are any tax arrangements in place to assist the Gaelic Players Association through the elite athletics sports scheme; if there is a record of the numbers of beneficiaries, and of the cost to the Exchequer; and if he will make a statement on the matter. [42040/15]
Amharc ar fhreagraFreagraí scríofa
There are no special tax arrangements in place to assist the Gaelic Players Association along the lines indicated by the Deputy. However, section 193 of the Taxes Consolidation Act 1997 contains a general provision whereby income arising from a scholarship held by a person receiving full-time instruction at a university, college, school or other educational establishment is exempt from income tax and is disregarded in computing that person's income for tax purposes.
Where a scholarship funded by the Gaelic Players Association meets the requirements of that section, the income arising to the recipient of such a scholarship is exempt from income tax. I am informed by the Revenue Commissioners that there is no specific information available in relation to beneficiaries of scholarships from the Gaelic Players Association.
NAMA Social Housing Provision
Ceisteanna (80)
Michael Creed
Ceist:80. Deputy Michael Creed asked the Minister for Finance if he has issued a communication to the National Asset Management Agency regarding its portfolio and the requirement that it would significantly contribute to a resolution of the social housing crisis; and if he will make a statement on the matter. [42047/15]
Amharc ar fhreagraFreagraí scríofa
I and my officials engage regularly with NAMA on issues such as social housing and residential supply more generally to benefit from their understanding and activity in the market; to better understand how their activity may have an impact on the market and to challenge them to evaluate opportunities in line with their objectives that may make a difference in the market.
However, I have not issued any formal direction regarding NAMA's activities in housing as decisions related to NAMA's portfolio are, ultimately, a commercial consideration for the NAMA Board in the context of the Agency's independent mandate to obtain maximum return to the State.
In this regard and completely in line with their objectives, NAMA has made, and is making, a very substantial contribution to the supply of properties for social housing.
Under an initiative agreed between NAMA and the then Minister for the Environment, Community and Local Government in 2012, NAMA has made over 6,500 residential properties available for social housing. This represents the entirety of vacant residential property within NAMA's portfolio that was available and potentially suitable for social housing. There is extensive detail on this initiative on NAMA's website, www.nama.ie/social-initiatives/. Under this initiative, NAMA identified the properties to the Housing Agency under a Non-Disclosure Agreement (NDA) which in turn has engaged with local authorities to ascertain demand and with local authorities and approved bodies to determine the allocation of properties for which demand was confirmed. NAMA has no role in determining which properties or the number of properties that are required for social housing or in decisions relating to the location or allocation of properties by the Housing Agency.
Of the 6,500 properties made available by NAMA, demand has been confirmed by local authorities for just over 2,500 and more than 1,600 of these have already been delivered. The 4,000 residential properties not taken up for social housing have been either sold or rented in the private housing market by NAMA debtors and receivers and in that way have contributed to increased market supply. In determining demand, local authorities based their decisions on criteria such as location and wider planning and housing policy considerations. There were also cases where the related properties were sold or rented by their owners or appointed receivers in the time taken by local authorities to assess and confirm demand.
Where demand is confirmed for a property, NAMA makes whatever funding is needed, more than €50m to date, to ensure that previously unfinished properties are completed and comply fully with all building standards. In addition to facilitating the sale or lease of properties through its debtors and receivers, NAMA has established a social housing SPV, NARPS, which directly leases properties to approved housing bodies. NAMA has developed standardised long-term leasing arrangements and attractive lease terms to facilitate this process.
I am advised that there has been extensive engagement between NAMA and the Department of the Environment, Community and Local Government and all the other stakeholders, including the Housing Agency, local authorities and approved housing bodies, on this initiative and all of the parties have worked extremely hard to ensure that properties for which demand has been confirmed are delivered as quickly as possible, notwithstanding the substantial construction and wider compliance work that is required in many cases.
As the NAMA Chair recently pointed out to the Public Accounts Committee, following this initiative, there are now very few unoccupied houses across NAMA's entire portfolio.
The issue of social housing is, as the Deputy is aware, directly impacted by the level of housing output generally in the economy. NAMA is, in this respect, making a very substantial contribution to increased housing supply. It funded close to 50% of new housing output in Dublin last year despite having an exposure to less than one-third of all Dublin residential development land. The NAMA Board has also indicated that it could fund up to 20,000 additional new homes on a commercial basis in the five years to end-2020, approximately 90% of which could be in Dublin and the greater Dublin area where demand is greatest. NAMA-funded residential developments are subject to the same planning and social housing provisions, including Part V of the Planning and Development Act 2000 (as amended), as all other residential development projects in the State. Therefore, NAMA's major contribution over the coming years will be in funding vitally needed new residential supply and will contribute to future delivery of social housing through Part V of the Planning and Development Act 2000 (as amended) as part of this funding.
Public Sector Pensions Levy
Ceisteanna (81, 82, 83)
Robert Troy
Ceist:81. Deputy Robert Troy asked the Minister for Public Expenditure and Reform to consider measures to ensure parity in the pension restorations of public servants who retired on reduced pensions, as per those who retired on full pensions. [41919/15]
Amharc ar fhreagraRobert Troy
Ceist:82. Deputy Robert Troy asked the Minister for Public Expenditure and Reform if he will engage with the Alliance of Retired Public Servants regarding the potential discontinuation of parity. [41920/15]
Amharc ar fhreagraRobert Troy
Ceist:83. Deputy Robert Troy asked the Minister for Public Expenditure and Reform if he has considered reducing the timeframe for the restoration of public service pensions, considering the projected growth in the economy. [41921/15]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 81 to 83, inclusive, together.
I and my officials have met with representatives of the Alliance of Retired Public Servants (ARPS) on a regular basis. My proposals to Government earlier this year in respect of the amelioration of the Public Service Pension Reduction (PSPR) burden on pensioners, and which now form part of the Financial Emergency Measures in the Public Interest (FEMPI) Bill 2015, were welcomed at that time by representatives of the Alliance. These proposals deliver on my commitment to ease the burden of the PSPR as early as economic and fiscal circumstances allowed me to do so, with a focus on benefiting impacted lower-income pensions proportionately more.
The proposed ameliorative measures for public service pensions in the 2015 Bill will deliver the part-restoration of the PSPR cuts in three stages effective from 1 January 2016, 1 January 2017 and 1 January 2018. When fully rolled-out from 1 January 2018, this means that all public service pensions in payment with pre-PSPR values of up to €34,132 will be fully exempt from PSPR, while those pensioners not fully removed from the reach of PSPR will, in general, benefit by €1,680 per year. The cost of these changes is estimated at about €90 million on a full-year basis from 2018.
The issue of post retirement pension increases will have to be addressed in the medium term, as we move beyond the FEMPI era towards a more normal environment for pay and pension setting, while continuing to ensure the affordability of the cost of the public service over the long term. However at this juncture, I believe that the current PSPR ameliorative measures represent a fair and sound basis on which, in the improved but still constrained fiscal space, public service pension reductions may be restored in a phased, moderate and progressive fashion, with those on lower PSPR impacted pensions benefiting to a greater extent.
Departmental Properties
Ceisteanna (84)
Pádraig MacLochlainn
Ceist:84. Deputy Pádraig Mac Lochlainn asked the Minister for Public Expenditure and Reform if he is aware of the application from a respected community development organisation based in Inishowen to utilise the old Garda station at St. Oran's Road, Buncrana, County Donegal as an amenity for the local community in Inishowen; if he will give this matter his full consideration. [41978/15]
Amharc ar fhreagraFreagraí scríofa
The Commissioners have received an expression of interest from a group, for use of the old Garda Station at Saint Oran's Road, Buncrana, Co. Donegal. They have been advised that, in the first instance, the property is under consideration for other State use.
Departmental Bodies Establishment
Ceisteanna (85)
Seán Fleming
Ceist:85. Deputy Sean Fleming asked the Minister for Public Expenditure and Reform if he will list all new State agencies or bodies established under the aegis of his Department since March 2011; and if he will make a statement on the matter. [41882/15]
Amharc ar fhreagraFreagraí scríofa
In response to the Deputy's question, I can confirm that no new State Body or agency has been established by my Department since February 2011.