Written Answers Nos. 256-269
256. Deputy Michael McGrath asked the Minister for Finance to list in tabular form the tribunals established under the Tribunals of Inquiry (Evidence) Acts 1921 to 2011; the number of days each tribunal sat for; the gross cost of each tribunal; and if he will make a statement on the matter. [10382/17]
Amharc ar fhreagraOver 30 Tribunals of Inquiry have been established under the Tribunals of Inquiry (Evidence) Acts 1921 to 2011. These are set out in the following table, which does not include the forthcoming Charleton Tribunal.
In the time available, it was not possible to collate the details requested regarding the number of days each Tribunal sat for and the gross cost of each Tribunal. In any case, in 2011, any files relating to the costs of Tribunals which were held by this Department would have transferred to the Department of Public Expenditure and Reform and are no longer held by this Department.
|
Name |
Year |
|
Food Prices |
1926 |
|
Ports and Harbours |
1926 |
|
Shooting of Timmy Coughlan |
1928 |
|
Grain Inquiry |
1929 |
|
Marketing of Butter |
1930 |
|
Pig Industries |
1933 |
|
Fruit and Vegetables |
1935 |
|
Town Tenants (Occupation Tenancies) |
1936 |
|
Pearse Street Fire |
1937 |
|
Public Transport |
1938 |
|
Fire at St. Joseph's Orphanage, Cavan |
1943 |
|
Dealings in Great Southern Railways Stocks between 1/1/1943 and 18/11/1943 |
1943 |
|
Supply of milk for the Dublin sale district |
1945 |
|
Ward Tribunal |
1946 |
|
Disposal of Locke's Distillery, Kilbeggan |
1947 |
|
Cross Channel Freight Rates |
1957 |
|
Pay of clerical-grade public servants |
1965 |
|
Death of Liam O'Mahony in Garda custody |
1967 |
|
Tribunal on Teacher's Salaries |
1967 |
|
"Seven Days" Television programme on Illegal Moneylending |
1969 |
|
Allegations made in the Dáil by Bobby Molloy and Brendan Crinion against James Tully, the Minister For Local Government |
1975 |
|
Costello Inquiry |
1979 |
|
Stardust |
1981 |
|
Kerry Babies Tribunal |
1984 |
|
Beef Tribunal |
1991 |
|
Finlay Tribunal |
1996 |
|
McCracken Tribunal |
1997 |
|
Moriarty Tribunal |
1997 |
|
Mahon Tribunal |
1997 |
|
Lindsay Tribunal |
1999 |
|
Barr Tribunal |
2002 |
|
Morris Tribunal |
2002 |
|
Smithwick Tribunal |
2005 |
257. Deputy Michael McGrath asked the Minister for Finance to set down the tax expenditure associated with the employment and investment incentive in 2016; the number of jobs supported; and if he will make a statement on the matter. [10383/17]
Amharc ar fhreagraI am advised by Revenue that it is currently not possible to provide a definitive figure for the cost of the Employment Investment Incentive (EII) scheme to the Exchequer for 2016, as all of the relevant returns for that year have not yet been collected. However, based on uptake to date, Revenue estimate the cost of the scheme for 2016 to be in the region of €32.5 million. This cost relates to capital raised of approximately €108 million by qualifying SMEs and does not take into account any payments of additional relief in respect of investments made in 2013.
In order to qualify for the additional relief, the company must have increased the numbers employed over the four year holding period or have spent the capital raised on research and development. Returns outlining the employment created over a four year period have only been made to Revenue in respect of the companies who availed of EII relief in 2012. In respect of those companies, it is estimated that approximately 230 additional employments have been created. Information for 2013 onwards will only be available in subsequent years.
258. Deputy Michael McGrath asked the Minister for Finance when the first claims will be eligible to be made for an exemption from capital gains tax under section 604A of the Taxes Consolidation Act 1997 for properties held for seven years; if his Department has made an initial estimate of the tax expenditure that will be associated with the relief; and if he will make a statement on the matter. [10384/17]
Amharc ar fhreagraI am advised by Revenue that the exemption from capital gains tax referred to by the Deputy applies to properties acquired in the period commencing on 7 December 2011 and ending on 31 December 2014 which are held for a minimum period of seven years. Accordingly, the earliest date that properties acquired in the relevant period can qualify for the exemption will be 7 December 2018.
It is not possible to estimate how many properties will be disposed and be eligible for this scheme or the amount of the resulting chargeable capital gain, if any, that may arise on such disposals. Accordingly, it is not possible to estimate the likely cost of the exemption.
259. Deputy Michael McGrath asked the Minister for Finance to set down in tabular form the yield in each year from 2007 to 2016 from stamp duty on share transactions on the Irish Stock Exchange; and if he will make a statement on the matter. [10385/17]
Amharc ar fhreagraI am advised by Revenue that the available data from 2007 to 2016 in respect of Stamp Duty on share transactions are in respect of all share transactions (separate information on receipts from Irish Stock Exchange transactions is not available) and the data can be found on the statistics webpage of the Revenue website at http://www.revenue.ie/en/about/statistics/receipts-stamp-duty.html.
260. Deputy Michael McGrath asked the Minister for Finance to set down the yield from betting duty in 2016; the breakdown between licensed betting offices and online; and if he will make a statement on the matter. [10386/17]
Amharc ar fhreagraI am informed by Revenue that the 2016 receipts from Traditional Betting (instore), Remote Betting (online) and Betting Intermediary Duty on Commissions are as follows. It should be noted that these figures are provisional in nature and may be subject to revision.
|
- |
Traditional Betting |
Remote Betting |
Betting Intermediary Commissions |
Total |
|
- |
€m |
€m |
€m |
€m |
|
2016 (Prov.) |
28.1 |
20.7 |
1.9 |
50.7 |
261. Deputy Michael McGrath asked the Minister for Finance to set out the total exemption from corporation tax on qualifying income and gains from rental property claimed by real estate investment trusts in each year from 2013 to 2015; and if he will make a statement on the matter. [10387/17]
Amharc ar fhreagraI am informed by Revenue that due to their obligation to observe the confidentiality of taxpayers' information and the low number of REITS currently operating here, it is not possible to provide the information requested by the Deputy.
262. Deputy Michael McGrath asked the Minister for Finance to provide details on the last occasion when a profession was added to the list that can claim rate expenses system for tax relief; and if he will make a statement on the matter. [10388/17]
Amharc ar fhreagraI assume the Deputy is referring to what is known as the flat rate expense regime. Under that regime, representatives of different categories of workers negotiate with Revenue for an entitlement to an expense deduction where the expense is wholly, exclusively and necessarily incurred in the performance of the duties of an office or employment. The regime has been developed over many years in order to reduce the costs and administrative burden for both taxpayers and Revenue.
I am advised by the Revenue Commissioners that the most recent addition to the list of flat rate expenses was in respect of defence force personnel, specifically all enlisted personnel not in receipt of a uniform replenishment allowance. The deduction granted is €150 per annum and it commenced with effect from 2015. The deduction was granted in respect of the expense associated with specialist cleaning of ceremonial uniforms.
263. Deputy Michael McGrath asked the Minister for Finance to set down in tabular form the proceeds from the disposal of investments in the State-supported banks, by institution, in each year since 2010; and if he will make a statement on the matter. [10389/17]
Amharc ar fhreagra264. Deputy Michael McGrath asked the Minister for Finance to set down in tabular form the dividends the State received from investments in the State-supported banks, including interest on contingent capital notes, by institution, in each year since 2010; and if he will make a statement on the matter. [10390/17]
Amharc ar fhreagraI propose to take Questions Nos. 263 and 264 together.
As requested by the Deputy the following tables set out the proceeds from the disposal/redemption of bank investments, and income received from bank investments, since 2010.
Table 1: Proceeds from disposal/redemption of investments in the banks:
|
Year |
Transaction |
AIB |
BOI |
PTSB |
Total |
|
2010 |
Cancellation of preference share warrants |
€52m |
€491m |
||
|
2011 |
No transactions |
||||
|
2012 |
No Transactions |
||||
|
2013 |
Sale of contingent capital notes |
€1,056m |
|||
|
Sale/redemption of preference shares |
€2,050m |
||||
|
Sale of Irish Life |
€1,340m |
||||
|
2014 |
No transactions |
||||
|
2015 |
Redemption of preference shares |
€1,641m |
|||
|
Redemption of contingent capital notes |
€442m |
||||
|
Sale of equity |
€97m |
||||
|
Residual amount re sale of Irish Life |
€12m |
||||
|
2016 |
Redemption of contingent capital notes |
€1,760m |
- |
- |
- |
|
Total |
€3,453m |
€3,597m |
€1,891m |
€8,941m |
Note 1: Disposal/redemption amounts in the Table 1 include accrued interest/dividend at the date of the transaction.
Note 2: The amount of the redemption of the AIB preference shares in 2015 is net of the amount paid to redeem the EBS promissory notes of €225m.
Note 3: In the addition to the transactions above, the State received €1,017m from the sale of shares in BOI to a consortium of North American investors in 2011. This was shortly after the State had exercised its rights to purchase a block of shares at a cost of €1,229m. The net cost of these transaction was €212m for the State.
Table 2: Income received from bank investments:
|
Year |
Transaction |
AIB |
BOI |
PTSB |
Total |
|
2010 |
Preference share conversion fee income |
€52m |
|||
|
2011 |
Preference share coupon |
€215m |
|||
|
2012 |
Preference share coupon |
€188m |
|||
|
Contingent capital notes |
€160m |
€100m |
€40m |
||
|
2013 |
Preference share coupon |
€188m |
|||
|
Contingent capital notes |
€160m |
€40m |
|||
|
2014 |
Contingent capital notes |
€160m |
€40m |
||
|
2015 |
Preference share coupon |
€280m |
|||
|
Contingent capital notes |
€160m |
||||
|
Total |
€920m |
€743m |
€120m |
€1,783m |
Note 1: Accrued interest received at the date of disposal/redemption is included in Table 1 above, including €160m received when the AIB contingent capital notes redeemed in 2016. The AIB contingent capital instrument was the final debt instrument to be held by the State.
266. Deputy Bernard J. Durkan asked the Minister for Finance to set down the number of family home repossessions by lending institutions to date in 2017; the extent to which action can be taken to discourage such repossessions when the borrowers are meeting their commitments to the best of their ability; and if he will make a statement on the matter. [10427/17]
Amharc ar fhreagraThe Central Bank publishes mortgage arrears data on a quarterly basis. The next release is due in mid-March 2017 and will cover Quarter 4 of 2016. In the normal course of events it is expected that the Quarter 1 2017 data for 2017 will be published in June 2017.
The most up to date information on repossessions published by the Central Bank is contained in the Residential Mortgage Arrears and Repossessions Statistics: Quarter 3 2016 available at: http://www.centralbank.ie/polstats/stats/mortgagearrears/Documents/2016q3_ie_mortgage_arrears_statistics.pdf.
This publication notes that there were 1,678 Principal Dwelling Houses (PDH) properties in the banks' possession at the beginning of the third quarter of 2016. A total of 421 properties were taken into possession by lenders during the quarter, of which 141 were repossessed on foot of a Court Order, while the remaining 280 were voluntary surrendered or abandoned. During the quarter 400 properties were disposed of.
My colleague the Tánaiste and Minister for Justice and Equality may be able to provide additional information from data collected by the Courts Service.
267. Deputy Bernard J. Durkan asked the Minister for Finance if family home repossessions over the past 12 months have been in accordance with the Central Bank regulations, with particular reference to the impact such repossessions have on the housing crisis and the activities of unregulated third parties that have purchased distressed loan books; and if he will make a statement on the matter. [10428/17]
Amharc ar fhreagra269. Deputy Bernard J. Durkan asked the Minister for Finance if he will introduce regulations to dissuade lending institutions from repossessing family homes when the borrowers are making substantial efforts to meet their commitments to the lenders; his views on introducing a protocol to regulate such events; and if he will make a statement on the matter. [10430/17]
Amharc ar fhreagraI propose to take Questions Nos. 267 and 269 together.
The Deputy will be aware that Regulated financial services providers are subject to the Central Bank Code of Conduct on Mortgage Arrears (CCMA).
The CCMA provides a strong consumer protection framework to ensure that each borrower who is struggling to keep up mortgage repayments is treated in a timely, transparent and fair manner by lenders.
As part of the Mortgage Arrears Resolution Process (MARP) framework the completion of affordability assessments is a key step. In this regard a lender must examine each case on its individual merits and it must base its assessment on the full circumstances of the borrower, including, inter alia, the borrower's current repayment capacity. In order to determine which options for alternative repayment arrangements are viable in each particular case, a lender must explore all of the options for alternative repayment arrangements that they offer. The Code of Conduct on Mortgage Arrears (CCMA) also requires lenders to review an alternative repayment arrangement at appropriate intervals for the type and duration of the arrangement.
The CCMA is a key part of the Central Bank's mortgage arrears framework. It is a statutory code issued under Section 117 of the Central Bank Act, 1989 and applies to all regulated mortgage lenders operating in the State when dealing with borrowers facing or in mortgage arrears on their primary residence, including any mortgage lending activities outsourced by these lenders. Non-compliance with the CCMA is enforceable against regulated entities by the Central Bank.
The recent Central Bank report on Mortgage Arrears, published on the Department of Finance website on 16th December 2016, found that overall, there is strong evidence that banks and non-banks are looking to exhaust available options before moving into the legal process with regard to mortgage arrears on family homes. I would therefore urge those with mortgage debt to engage with their lender by completing a standard financial statement of their income and expenditure or contact their local Money Advice and Budgeting Service (MABS) office for independent professional and confidential advice.
268. Deputy Bernard J. Durkan asked the Minister for Finance to set out the number of repossessions by lending agencies in the buy-to-let market that have resulted in an increase in homelessness; and if he will make a statement on the matter. [10429/17]
Amharc ar fhreagraThe most up to date information on repossessions published by the Central Bank is contained in their publication for quarter 3 of 2016 on Residential Mortgage Arrears and Repossessions Statistics http://www.centralbank.ie/polstats/stats/mortgagearrears/Documents/2016q3_ie_mortgage_arrears_statistics.pdf.
There were 640 Buy-to-Let (BTL) properties in the banks' possession at the beginning of Quarter 3 of 2016. A total of 288 properties were taken into possession by lenders during the quarter. Of the total BTL repossessions in the quarter, 148 were repossessed on foot of a Court Order, while the remaining 140 were voluntarily surrendered or abandoned. During Quarter 3 of 2016, 298 properties were disposed of. As a result, lenders were in possession of 631 BTL properties at end-September 2016.
In addition please see Central Bank Mortgage Arrears data for the period Q3 2015 to Q3 2016: http://www.centralbank.ie/polstats/stats/mortgagearrears/Pages/Data.aspx.
