Written Answers Nos. 129-142
129. Deputy John McGuinness asked the Minister for Finance the process within his Department for dealing with protected disclosures under the 2014 Act; if the examinations of such disclosures are carried out by an independent authority or persons other than those within the organisation to which the disclosure refers; the number of disclosures received by his Department; and if he will make a statement on the matter. [15075/17]
Amharc ar fhreagraI can advise the Deputy that my Department promotes a culture where members of staff are encouraged and supported in 'speaking up' on any issue that may impact adversely on the Department's ability to properly and fully carry out all its roles and responsibilities.
The Department's Protected Disclosures Policy and Procedures document of May 2015 was recently reviewed and updated following the issuing of guidance from the Department of Public Expenditure and Reform and the revised Policy document was circulated to all Department staff last month.
Those officials who have been designated as a potential recipient of a Protected Disclosure under the Department's Policy Document recently received in-depth training from an external legal expert with experience in protected disclosures on the Protected Disclosures Act and the associated processes of dealing with a Protected Disclosure. In the past month, three information sessions have also been held for staff on the legislation and the process of making a disclosure.
Under the Department's Policy, a disclosure can be made to the Department's Head of Compliance, Head of Legal Unit, to a Principal Officer, a member of the Executive Board or the Secretary General. The Policy provides that the appropriate contact for any disclosures outside the normal reporting channels is the Head of Internal Audit in the Department of Public Expenditure and Reform. A disclosure however can also be made outside of these normal reporting channels; for example to: a legal advisor, a Minister of the Government, and a 'prescribed person' under SI 339 of 2014 and SI 448 of 2015.
The Deputy may wish to note that I understand that the Department of Public Expenditure & Reform is in the process of establishing a multi-supplier framework agreement for third parties to provide services to public bodies related to the Protected Disclosures Act.
Under the Department's Protected Disclosures Policy, when a recipient receives a Protected Disclosure they must undertake an initial assessment within 14 days of receipt of the disclosure. If the recipient determines that an investigation is required, the Secretary General will then nominate a senior official to investigate the matter. The fact of such an investigation will be reported to the Head of Internal Audit. Both the Secretary General and the Head of Internal Audit will also be advised of the outcome and any recommendations arising. The individual making a disclosure will be advised of the progress and outcome of the investigation as appropriate having regard to the nature of the matters investigated, of the outcome of the investigation. Some matters, however, may be of such seriousness that the investigation will more appropriately be carried out externally or by professional experts and in some cases may need to be reported to An Garda Síochána or another body with the statutory power and function of investigation of particular matters.
As provided for under Section 22 of the Act, a report will also be prepared and published on an annual basis setting out the number of disclosures made to the Department in the previous year, the actions taken in response to those disclosures and any other information as may be requested by the Minister for Public Expenditure and Reform under the Act. In 2015, there were no Protected Disclosures made to the Department. Details concerning 2016 will be published on the Department's website shortly.
My Department is strongly committed that any appropriate issue raised by a member of staff relating to a matter connected to the conduct of the business of the Department will be dealt with professionally and appropriately.
130. Deputy Tony McLoughlin asked the Minister for Finance the detail of all NAMA properties in County Sligo which are currently available for purchase; and if he will make a statement on the matter. [15093/17]
Amharc ar fhreagraThe Deputy will be aware that NAMA does not own property. NAMA acquired loans and its role is, like a bank, that of a secured lender. NAMA holds security over properties that are owned by its debtors or, in the case of enforcement, which are managed on behalf of those debtors by duly appointed insolvency practitioners. As a result, where properties which secure NAMA loans are brought forward for sale, such sales processes are managed by the relevant debtor or insolvency practitioner.
The NAMA website (https://www.nama.ie/property/) includes a list of properties to which receivers have been appointed and which are either for sale or are likely to be offered for sale through receivers in the near future. The NAMA website does not include properties being sold by NAMA debtors or their agents, as to do so would identify NAMA debtors and NAMA is legally precluded from doing so. Properties for sale by NAMA debtors, their agents or receivers are sold on the open market and are advertised through the usual sales channels and property websites.
I am advised by NAMA that its debtors and receivers control only a small number of properties in County Sligo and that these are either being prepared for sale or are the subject of court actions. I am further advised by NAMA that there are currently no properties securing NAMA loans for sale in County Sligo.
131. Deputy Michael McGrath asked the Minister for Finance his plans and those of the agencies under the aegis of his Department to respond to the new investment environment faced by US multinationals with a presence here under the new US Administration; his particular plans to respond to these new challenges to Ireland's successful inward investment strategy; and if he will make a statement on the matter. [15152/17]
Amharc ar fhreagraI assume that the Question is referring to the potential for tax reform under the new US administration. While a number of proposals are being openly discussed in the context of the debate on US tax reform, the new US administration has yet to set-out its own proposals, though it is clear that tax reform is a priority.
The implications for Ireland and other jurisdictions will depend on the exact nature of any changes which are ultimately proposed. Agreement between the House of Representatives, the Senate and the President is needed for any changes to be enacted.
Global business, from the US or elsewhere, will always need to have operations in the EU, as a major market, and Ireland will remain very competitive and attractive as an EU location to invest in and do business from. While we will remain responsive to changing demands, it is also important that we offer certainty to international business.
My Department is tracking the debate closely and we continue to engage across the Government system and with business and others to ensure Ireland is well placed to continue to compete in this environment.
132. Deputy Michael McGrath asked the Minister for Finance the cost of insurance under different insurance headings such as public liability, buildings cover, employer liability and so on for his Department and each body under its aegis; the name of the insurance provider for each year since 2010, in tabular form; the number of current outstanding insurance claims against his Department or the body under its aegis; the estimated cost of those claims if available; and if he will make a statement on the matter. [15180/17]
Amharc ar fhreagraI wish to advise the Deputy that my Department operates under State Indemnity, a self-insurance model whereby the State bears the financial risk associated with the cost of claims. The National Treasury Management Agency (NTMA) is designated as the State Claims Agency (SCA) when performing the claims and risk management functions delegated to it under the National Treasury Management Agency (Amendment) Act 2000.
Since the establishment of the SCA, the management of claims functions has been delegated to the Agency. It currently manages claims and risks on behalf of 139 delegated State Authorities.
I also wish to advise the Deputy that of the 18 bodies under the aegis of my Department, 15 have provided the information sought and this is set out in the following table. It was not possible for the Disabled Drivers Medical Board of Appeal, Irish Financial Services Appeal Tribunal and the Irish Bank Resolution Corporation to provide the information sought in the time available and therefore I will make arrangements to provide the outstanding information in line with Standing Orders.
|
Body |
Insurance cover |
Insurance provider |
Outstanding claims & Estimated cost |
|
Strategic Banking Corporation of Ireland |
2010-2015 2016: Professional Liability €78,750
Public Liability & Employer's Liability €12,968 |
Nil
AIG
Aviva & Chubb Insurance
|
Nil |
|
Irish Fiscal Advisory Council
|
Established in 2011: €875 all-in insurance
2012: €1,1750 all-in insurance from the ESRI 2013: €1,1750 all-in insurance from the ESRI IFAC was delegated to the SCA in April 2014 for the purposes of all-in insurance, save for Travel Insurance as set out below. 2014: €819.55 travel insurance
2015: €860.52 travel insurance
2016: €900.51 travel insurance |
ESRI
ESRI
ESRI RSA
RSA
RSA
|
Nil |
|
Office of the Revenue Commissioners |
Revenue is a State authority covered under State indemnity managed by the SCA, save for the provisions below. 2010: Hull & Machinery €23,057 Protection & Indemnity €11,982 2011: Hull & Machinery €23,450 Protection & Indemnity €12,180 2012: Hull & Machinery €24,625 Protection & Indemnity €14,616 2013: Hull & Machinery €24,625 Protection & Indemnity €15,492
2014: Hull & Machinery €21,000 Protection & Indemnity €11,000 Hull & Machinery on Seized Vessels €6,000
2015: Hull & Machinery €21,000 Protection & Indemnity €8,500 Hull & Machinery on Seized Vessels €11,000
2016: Hull & Machinery €20,200 Protection & Indemnity €3,600 Hull & Machinery on Seized Vessels €12,000 |
British Marine
British Marine
British Marine
British Marine
Allianz Lodestar Insurance Arthur J. Gallagher Int.
Allianz Lodestar Insurance Arthur J. Gallagher Int.
Allianz British Marine Arthur J. Gallagher Int. |
Nil |
|
Tax Appeals Commission |
The Tax Appeals Commission is a State authority covered under State indemnity managed by the SCA. |
N/A |
|
|
Central Bank |
2010/11 Combined Liability €82,140 Commercial Combined €53,906 Excess E/ers Liability €2,575 Computer €4,949 Engineering €10,593 Motor Fleet €5,388 Travel Insurance €5,665 Cargo €550 Money €5,150
2011/12 Combined Liability €108,799 Commercial Combined €55,327 Excess E/ers Liability €4,017 Computer €5,643 Engineering €10,593 Motor Fleet €4,977 Travel Insurance €5,304 Cargo €2,200 Money €10,000
2012/13 Combined Liability €53,585 Commercial Combined €58,000 Excess E/ers Liability €6,150 Computer €4,933 Engineering €9,262 Motor Fleet €4,300 Travel Insurance €4,677 Cargo €1,750 Money €10,000
2013/14 Combined Liability €58,000 Commercial Combined €65,600 Excess E/ers Liability €6,150 Computer €4,193 Engineering €10,887 Motor Fleet €4,300 Travel Insurance €5,395 Cargo €2,900 Money €10,000
2014/15 Combined Liability €55,356 Commercial Combined €64,657 Excess E/ers Liability €6,150 Computer €2,870 Engineering €11,956 Motor Fleet €12,688 Travel Insurance €5,381 Cargo €2,900 Money €9,250
2015/16 Combined Liability €59,683 Commercial Combined €55,681 Excess E/ers Liability €6,150 Computer €2,726 Engineering Inspection €14,638 Motor Fleet €11,738 Travel Insurance €5,650 Cargo €2,750 Money €10,800
2016/17 Combined Liability €90,000 Commercial Combined €72,783 Excess E/ers Liability €6,150 Computer €2,590 Engineering €2,804 Engineering Inspection €15,000 Motor Fleet €13,635 Travel Insurance €6,295 Cargo €2,300 Money €7,869.32
|
2010/11 Liberty Insurance AIG Europe ACE European Group RSA Insurance Ire Ltd RSA Insurance Ire Ltd Zurich Insurance Plc AIG Europe Northern Marine Underwriters Ltd Lloyd's UK Market
2011/12 Liberty Insurance AIG Europe ACE European Group RSA Insurance Ire Ltd RSA Insurance Ire Ltd Zurich Insurance Plc AIG Europe Northern Marine Underwriters Ltd Lloyd's UK Market
2012/13 Liberty Insurance AIG Europe ACE European Group RSA Insurance Ire Ltd RSA Insurance Ire Ltd Zurich Insurance Plc AIG Europe Northern Marine Underwriters Ltd Lloyd's UK Market
2013/14 Travelers AIG Europe ACE European Group RSA Insurance Ire Ltd RSA Insurance Ltd Zurich Insurance Plc AIG Europe Northern Marine Underwriters Ltd Lloyd's UK Market
2014/15 Liberty Insurance AIG Europe ACE European Group RSA Insurance Ire Ltd RSA Insurance Ire Ltd Zurich Insurance Plc AIG Europe Northern Marine Underwriters Ltd Lloyd's UK Market
2015/16 Liberty Insurance AIG Europe ACE European Group RSA Insurance Ire Ltd RSA Insurance Ire Ltd Zurich Insurance Plc AIG Europe Northern Marine Underwriters Ltd Lloyd's UK Market
2016//17 Travelers Insurance AIG Europe ACE European Group RSA Insurance Ire Ltd RSA Insurance Ire Ltd Vertigo Inspection Ltd Zurich Insurance Plc AIG Europe Northern Marine Underwriters Ltd Lloyd's UK Market
|
Nil
Nil
Nil
2014: 2 claims €48,057.85 (Paid €47,557.85/ Reserve €500)
Reserve €78,000
2015: 3 claims €435,330 (Reserve €330/€400,000/€35,000)
2016: 1 claim Reserve €701
Nil |
|
Investor Compensation Company Ltd |
ICCL are covered under Central Bank of Ireland insurance policies for the risks specified.
ICCL has arranged specie insurance to cover the cost of statutory compensation claims in circumstances where the annual cost of claims to the ICCL would exceed €15m. |
N/A |
|
|
Credit Union Advisory Committee |
CUAC is covered under the State Claims Agency therefore no direct insurance costs are incurred.
|
N/A |
|
|
Credit Union Restructuring Board |
REBO is covered under the State Claims Agency therefore no direct insurance costs are incurred.
|
N/A |
|
|
Credit Reviewer |
The Credit Reviewer is covered under Enterprise Ireland. Enterprise Ireland provides full business services to the CRO, therefore no direct insurance costs are incurred. |
N/A |
|
|
Comptroller and Auditor General |
C&AG is a State authority covered under State indemnity managed by the SCA. |
N/A |
|
|
National Asset Management Agency |
NAMA is a State authority covered under State indemnity managed by the SCA, save for the provisions below covering property managed by the Agency. 2011: Buildings €3,600 Buildings €4,579 Public Liability €6,356
2012: Buildings €4,813 Public Liability €6,563 Buildings €4,160 Public Liability €788
2013: Buildings €9,639 Public Liability €6,563 Buildings €4,005 Public Liability €261
2014: Buildings €26,570 Buildings €10,253 Public Liability €79 2015: Buildings €71,030
2016: Buildings €115,229
2017: Buildings €6,300 |
Contess IPB Mutual IPB Mutual
IPB Mutual IPB Mutual AIG Europe AIG Europe
IPB Mutual IPB Mutual AIG Europe AIG Europe
IPB Mutual AIG Europe AIG Europe IPB Mutual
IPB Mutual
IPB Mutual
|
Nil |
|
National Treasury Management Agency |
NTMA (including NAMA) is a State authority covered under State indemnity managed by the SCA, save for the provisions below. Contents and computers cover: 2010 €6,585 2011 - €6,578 2012 - €6,489 2013 - €7,332 2014 - €8,945 2015 - €9,595 2016 - €10,095 2017 - €10,128 |
Aviva Northern Marine Underwriters |
Nil |
|
Social Finance Foundation |
2010: Public Liability €2,641.95 Buildings €473.44
2011: Public Liability €2,111.50 Buildings €473.44
2012: Public Liability €2,152.50 Buildings €482.63
2013: Public Liability €2,152.50 Buildings €505.97
2014: Public Liability €2,152.50 Buildings €531.97
2015: Public Liability €2,152.50 Buildings €566
2016: Public Liability €2,158.80 Buildings €649.13 |
JLT Ireland
JLT Ireland
JLT Ireland
JLT Ireland
JLT Ireland
JLT Ireland
JLT Ireland |
Nil |
|
Financial Services Ombudsman Bureau
Financial Services Ombudsman Council
|
2010/2011 Management Liability €17,200 Crime €2,800 Employment Practices Liability €3,000 Data Guard €2,400 PA/Travel €1,000 Office combined €3,579.95 Motor Contingency €960
2011/2012: Management Liability €17,200 Crime €2,800 Employment Practices Liability €3,000 Data Guard €2,400 PA/Travel €1,000 Office combined €3,331.77 Motor Contingency €900
2012/2013 Management Liability €17,200 Crime €2,800 Employment Practices Liability €3,000 Data Guard €2,100 PA/Travel €1,000 Office combined €3,276.72 Motor Contingency €900 Computer €250
2013/2014 Management Liability €17,200 Crime €2,800 Employment Practices Liability €3,000 Data Guard €2,050 PA/Travel €1,000 Office combined €3,276.72 Motor Contingency €900 Computer €250
2014/2015 Management Liability €17,200 Crime €2,800 Employment Practices Liability €3,000 Data Guard €2,050 PA/Travel €1,000 Office combined €3,441.22 Motor Contingency €900 Computer €250
2015/2016 Management Liability €17,200 Crime €2,800 Employment Practices Liability €3,000 Data Guard €2,050 PA/Travel €950 Office combined €3,673.22 Motor Contingency €900 Computer €250
2016/2017: Management Liability €17,200 Crime €2,800 Employment Practices Liability €3,000 Data Guard €2,050 PA/Travel €902.50 Office combined €2,700 Motor Contingency €963 Computer €250 Excess Employers Liability €940 |
Chartis Ireland ACE Group Chartis Ireland ACE Group Chartis Ireland RSA Group RSA Group
Chartis Ireland ACE Group Chartis Ireland ACE Group Chartis Ireland RSA Group RSA Group
Chartis Ireland ACE Group Chartis Ireland ACE Group Chartis Ireland RSA Group RSA Group RSA Group
AIG Europe Ltd ACE Group AIG Europe Ltd ACE Group AIG Europe Ltd RSA Group RSA Group RSA Group
AIG Europe Ltd ACE Group AIG Europe Ltd ACE Group AIG Europe Ltd RSA Group RSA Group RSA Group
AIG Europe Ltd ACE Group AIG Europe Ltd ACE Group AIG Europe Ltd RSA Group RSA Group RSA Group
AIG Europe Ltd. ACE/Chubb AIG Europe Ltd. ACE/Chubb AIG Europe Ltd. Hiscox Insurance Co. RSA Group RSA Group ACE/Chubb |
Nil |
The referred reply under Standing Order 42A was forwarded to the Deputy.
133. Deputy James Lawless asked the Minister for Finance when the Central Bank tracker mortgage review will inform affected customers of the reinstatement of their tracker mortgages; when the associated refunds will be issued; if he will be recommending a level of compensation for persons who have had their tracker mortgages reinstated before the Central Bank tracker review was initiated; and if he will make a statement on the matter. [15286/17]
Amharc ar fhreagraThe Deputy may wish to note that the Central Bank of Ireland published a further update report on the Examination of Tracker Mortgage Related Issues on 23 March 2017 and that this is available on its website at: http://www.centralbank.ie/press-area/press-releases/Pages/updatereportoncontinuingExaminationofTrackerMortgageIssues.aspx.
The report is the latest in a series of status updates since the Examination commenced and sets out the progress being made by lenders in completing the review. The Examination Framework, the Principles for Redress and the Appeals Process set out by the Central Bank have also been published, in conjunction with the report. The report also sets out information on the Central Bank's enforcement powers and activity in response to the tracker mortgage issues identified to date. In addition to this Central Bank mandated process, it should be noted that if impacted customers are still not happy with the outcome of the process (including in relation to the level of compensation and redress), they will have the option of bringing a complaint to the independent statutory Financial Services Ombudsman or initiating court proceedings.
134. Deputy Declan Breathnach asked the Minister for Finance his plans to regulate for insurance for hobby drone users; if his attention has been drawn to the fact that the two insurance companies here underwritten by UK companies that offer insurance cover for drones will not cover drones used by amateurs and hobbyists; if his attention has been further drawn to the fact that there have been a number of accidents and damage to property caused by drones operated by amateurs; and if he will make a statement on the matter. [15299/17]
Amharc ar fhreagraThe Deputy's question seems to refer to the issue of whether the State should make it a requirement for drone users to have insurance cover before drones can be used, because of the risk of third party damage. In this regard, it should be noted that insurance for activities is not generally a compulsory requirement, with the obvious exception of motor insurance. Any decision to make it compulsory would have to be made by those more familiar with the risks associated with the use of drones. In this regard, I understand that the Irish Aviation Authority (IAA) requires all drones weighing more than 1 kg or more to be registered. I also understand that the IAA encourages all drone users (recreational and commercial) to familiarise themselves with all rules and regulations relating to drone safety prior to use. In addition the IAA provides information on the safe use of drones at www.iaa.ie/general-aviation/drones.
As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation including insurance. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is reinforced by the EU framework for insurance which expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing or terms and conditions of insurance products. Therefore the question of whether an insurance provider is willing to cover the risk of drones used by amateurs and hobbyists will be based on an assessment of the risks they are willing to accept.
135. Deputy Róisín Shortall asked the Minister for Finance the options open to persons that wish to purchase motor insurance in another EU state to avail of lower premiums for a vehicle registered and based here with regard to the free movement of goods and services across the European Union; and if he will make a statement on the matter. [15385/17]
Amharc ar fhreagraThe issue of persons being able to purchase motor insurance in another EU Member to avail of lower premiums for a vehicle registered and based in Ireland was considered by the Cost of Insurance Working Group in its recent Report. Its conclusion was that it is not possible under the current legislative framework to provide for individuals to source motor insurance for Irish registered vehicles from insurers in other Member States.
In coming to this conclusion, it examined the existing legal and regulatory framework for the provision of insurance in the European Union (EU), as well as Irish law. The EU framework allows for the freedom to provide services from one Member State into another throughout the Union. This is a key principle of the European Union and is availed of by a number of insurance firms established in Ireland in order to conduct business into other EU Member States, and also by companies authorised elsewhere conducting business into the Irish market. This can be done either through:
- establishing a branch operation in the host country and thus conducting business on a 'freedom of establishment' (FOE) basis; or
- writing business from the home country (i.e. where authorised) into the host country on a 'freedom of services' (FOS) basis.
In both situations for companies wishing to do business in Ireland, there is a requirement to become a member of the national bureau ( Motor Insurers' Bureau of Ireland (MIBI)) under Section 78 of the Road Traffic Act. This is an important requirement as the MIBI is the body in Ireland tasked with meeting the EU requirement of compensating victims of accidents caused by uninsured and unidentified vehicles. This position has been upheld in the case of DPP v Lepina and Suhanovs where one of the conclusions was that a vehicle registered in the State must be insured by a vehicle insurer that is a member of the national bureau (MIBI).
In summary, therefore a vehicle registered and based in Ireland can legally only take out insurance with a company who is a member of MIBI which means that by definition they cannot purchase motor insurance in another Member State where such companies will be members only of their own national bureau.
This is a complex issue which would require a solution at EU level. The Working Group therefore recommended that my Department support efforts and raise awareness of the need to improve cross-border motor insurance provision at the European level. This work is ongoing and my officials continue to monitor the issue and raise it in the relevant forums.
136. Deputy Peter Burke asked the Minister for Finance the amount of money that has been paid into the Credit Institutions Resolution Fund since its establishment in 2012; the names of the credit institutions that have contributed; the amount they have contributed for each of the years since 2012; the amounts that have been paid out and to whom; the amount in the fund presently; and if he will make a statement on the matter. [15461/17]
Amharc ar fhreagraThe Government put €250 million into the Credit Institutions Resolution Fund which was established by section 10(1) of the Central Bank and Credit Institutions (Resolution) Act 2011 (as amended) (2011 Act). The Central Bank manages and administers the Resolution Fund. The purpose of the Resolution Fund under the 2011 Act is to provide a source of funding for the resolution of financial instability in, or an imminent serious threat to the financial stability of, an authorised credit institution. In particular the Resolution Fund may be used for:
- the payment of financial incentives for transfers;
- providing capital for a bridge bank (details of a bridge bank are set out in Part 4 of the 2011 Act);
- meeting the expenses of the Central Bank incurred when discharging functions under the Act, and
- making certain payments under the Act, for example, the payment of expenses to an assessor appointed under the Act.
To date, the resources of the Resolution Fund have been utilised to fund the resolution of 5 credit unions. In the case of 3 of those credit unions, the resolution action taken was a directed transfer under the 2011 Act, and the Resolution Fund funded a financial incentive for the transferee. The 2 remaining cases were liquidation cases, where no incentive was paid from the Resolution Fund in respect of those resolutions. In each of the 5 cases, the Central Bank discharged its third party resolution-related costs against the Resolution Fund.
The amount paid or payable to date in relation to resolution cases from the Resolution Fund is circa €31.3 million. This was for incentives paid in each of the 3 outlined credit union transfer resolution cases as follows:
- Newbridge Credit Union Limited: c €27 million
- Howth Sutton Credit Union Limited: €2.15 million
- Killorglin Credit Union Limited: €2.15 million
The Resolution Fund is administered by the Central Bank and I have been informed that the names of the individual institutions that have contributed to the fund cannot be provided due to confidentiality reasons. Under section 12(2) of the Resolution Act 2011, the Minister for Finance is entitled to be reimbursed from the Resolution Fund for all contributions to the fund and for any financial incentive provided.
All credit institutions as defined in the 2011 Act excluding those exempted under section 3(2) paid into the Resolution Fund in 2012, 2013 and 2014. In 2015 the Bank Recovery and Resolution Directive (BRRD) was adopted and Member States banks were required to pay into a separate domestic BRRD fund. In 2016 Irish banks came under the remit of the Single Resolution Mechanism (SRM) and all BRRD contributions were transferred to that fund. As credit unions do not come within the scope of the BRRD they have remained within the Resolution Fund. As per the financial statements for the Resolution Fund the following levies have been collected to date:
- Period 28 October 2011 to 31 December 2012 - €2.445 million
- Year ended 31 December 2013 - €9.621 million
- Year ended 31 December 2014 - €9.299 million
- Year ended 31 December 2015 - €7.310 million
- Year ended 31 December 2016 - €7.659 million
I have been informed by the Central Bank that to date, as per the financial statements, net resolution costs of circa €30 million have been expensed through the Resolution Fund with the fund currently holding €255 million with another €2 million due in outstanding levies.
137. Deputy Niall Collins asked the Minister for Finance the actions he is taking to increase the rate of credit lending to businesses via the Strategic Banking Corporation of Ireland; the level of take up from the fund by businesses at 31 December 2016; and if he will make a statement on the matter. [15474/17]
Amharc ar fhreagraThe Strategic Banking Corporation of Ireland (SBCI) is Ireland's national promotional institution for SMEs. Its aim is make sustainable and appropriately priced finance available to viable Irish SMEs and support investment by them that encourages growth and facilitates employment across the whole country. The SBCI does not lend directly, rather it lends its funds to SMEs through lending partners, known as on-lenders. The SBCI currently has eight on-lending partners, three bank and five non-bank. The SBCI is seeking to broaden its distribution capability and market coverage by adding new on-lenders and working to develop innovative products, thereby serving to drive competition in the SME finance market.
I am pleased to note that, to the end of December 2016, the SBCI has lent circa €544 million to 12,589 SMEs supporting an estimated 67,150 jobs. These figures represent a significant increase in lending by the SBCI during 2016. The SMEs who received SBCI finance are from a variety of business and economic sectors and are spread across every region of the country. More than 80% of loans are for investment purposes and the average loan size is €43,000. There is a broad geographical spread of the SMEs supported with approximately 85% of them based outside Dublin. The SBCI is using its significant funding capacity, of over €1 billion, to support Irish SMEs investing in and growing their businesses.
139. Deputy Jonathan O'Brien asked the Minister for Education and Skills if he will provide a comprehensive overview of the Government's financial obligations to University College Cork; and if he will make a statement on the matter. [15009/17]
Amharc ar fhreagraMy Department allocates recurrent funding to the Higher Education Authority (HEA) for direct disbursement to the HEA designated higher education institutions, including the Universities. The funding allocated by the HEA is not for a specific purpose but is allocated as a block grant to cover teaching, research and supporting activities. The internal disbursement of that funding is then a matter for the individual institution.
Universities are autonomous bodies as set out in the Universities Act 1997 and are responsible for their own day to day affairs, including the allocation of all of its income (both public and private) and in relation to its own financial affairs.
In 2017 UCC has been allocated a core grant of €36.3m by the HEA which represents an increase of 4.3% over the 2016 allocation. UCC also receives earmarked funding for a number of initiatives such as increased student intake to medicine and skills courses as well as funding in respect of students eligible for free fees under the Free Fees Initiative. In addition, since 2012 UCC has received over €8m in additional funding in respect of its dentistry programme in recognition of the significant costs associated with such provision.
140. Deputy Thomas Byrne asked the Minister for Education and Skills if his attention has been drawn to the shortage and the need for shuttering carpenters in the construction sector; and if he will make a statement on the matter. [15329/17]
Amharc ar fhreagraAs levels of activity in the construction sector continues to increase, demand for skilled and semi-skilled occupations is forecast to increase over the coming years. The planning of education and training provision is taking account of this forecast growth in demand in both the apprenticeship system and across broader Further Education and Training programmes.
While there is no dedicated apprenticeship for form shuttering in Ireland, aspects of the skills required to carry out formwork are covered in the statutory carpentry and joinery apprenticeship. There has been strong growth in the numbers of registrations in the carpentry and joinery apprenticeship with 399 apprentices registering in 2016, a 37% increase on the 2015 figure.
Further Education and Training providers deliver a range of specific skills programmes for the construction sector outside of the apprenticeship system. SOLAS, in consultation with Industry and Education and Training Boards continue to expand provision to meet the needs of the construction sector in a number of semi-skilled areas. I understand that formwork skills will be covered in a new Construction Operative Programme which will be rolled out in 2017 with approximately 100 places.
141. Deputy Fiona O'Loughlin asked the Minister for Education and Skills the way in which his Department is currently allocating guidance counselling hours; and if he will make a statement on the matter. [14785/17]
Amharc ar fhreagraMeasures announced by my Department as part of Budget 2016 and 2017 mean that 400 guidance posts, or two thirds of the guidance allocation that was withdrawn in Budget 2012, will be restored to schools from September 2017. The restoration of the remaining 200 posts will be considered in future Budgets.
I have made it clear that all these 400 posts are allocated separately and transparently and outside of the quota on the normal schedule of posts.
This means that there is now an obligation on schools to ensure that these hours are used for guidance activities. Schools can decide to allocate more hours to guidance than the amount allocated on the schedule. They cannot allocate fewer.
The guidance plan will outline the school’s approach to guidance generally and how students can be supported and assisted in making choices and successful transitions in the personal and social, educational and career areas. However, my Department has made it clear that schools’ guidance plans should include specified time allocation for guidance counsellors to be available for one-to-one guidance counselling and time allocation for the role in supporting the organisation and work of the Student Support Team.
In line with best practice, and in line with practice in the Irish education system for almost 20 years, the allocation of these hours within the school take place in accordance with the Whole School Guidance Plan.
The guidance counsellor will form a central part of the plan, which sets out how the entire resources of the school will work towards achieving the best possible outcomes for the students in the guidance area. It is likely that the vast majority of these activities will be delivered by guidance counsellors; however, in many schools it will be decided that some activities may be delivered by other staff members – eg year heads. These decisions will depend on the specific needs of the student population.
142. Deputy Eamon Ryan asked the Minister for Education and Skills if a full-time employee with a third level college who is due to reach the age of 65 years in March 2017 and therefore faces mandatory retirement in September 2017 will be able to agree an extension of their employment contract for an additional period; and the flexibility which exists for the extension of such public sector employment contracts in advance of the expected change of the rules regarding mandatory retirement ages. [14786/17]
Amharc ar fhreagraThe position with regard to employees in a third level college is that in accordance with the terms of their superannuation scheme, it is not possible to remain in pensionable service beyond the age of 65. The person would at that point immediately qualify for pension and lump-sum based on the service they have accrued.
With reference to how the vacant post should be subsequently be filled, it is a matter for the third level institution as an autonomous body to deal with that process.
As the Deputy will be aware, since the introduction of the moratorium on public sector recruitment, an Employment Control Framework (ECF) has been in place for the higher education sector which provides institutions with considerable flexibility to fill vacancies, through recruitment or promotions on the basis of meeting an overall ceiling of posts.
Under this Framework the re-employment of retired staff should only occur in very limited exceptional circumstances and in these cases the salaries offered may not exceed 20% of the full-time salary of the post of the individual at the time of their retirement, adjusted to reflect the application of Government pay policy in the period since their date of retirement – including in particular the application of salary adjustments imposed under the Financial Emergency Measures in the Public Interest (No. 2) Act 2009.
In Budget 2015, the Minister for Public Expenditure and Reform announced that the existing ECFs and associated moratoriums would be lifted and replaced with a system of delegated sanction for recruiting and promoting up to Principal Officer level, subject to adherence by Departments to binding pay ceilings and ongoing compliance with Workforce Planning requirements. In light of this announcement a new Delegated Sanction Agreement for the higher education sector will be put in place shortly.
