Irish Aid

Ceisteanna (153)

Clare Daly

Ceist:

153. Deputy Clare Daly asked the Tánaiste and Minister for Foreign Affairs and Trade the arrangements Irish Aid has in place for volunteers with a disability; the protocols Irish Aid follow when conducting public competitions for volunteers; the provisions for the public sector equality and human rights duty; and if he will make a statement on the matter. [5632/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Foreign)

The Development Cooperation Division of the Department of Foreign Affairs and Trade facilitates participation in a range of volunteering opportunities overseas. Typically these involve placement with third party organisations. Depending on the role and local context, volunteers may need to be able to operate in challenging circumstances.

Where prospective volunteers with a disability request that a reasonable accommodation, arrangement be made, including to enable equal participation in a selection process, my Department will endeavour to do so in liaison with the individual concerned and in keeping with the advice and guidance in this area developed by the National Disability Authority, and with due regard to the Public Sector Duty.  

My Department also engages with third party organisations with whom volunteers could be placed such that prospective volunteers with a disability could be made aware of positions - if available - matched to their skills and abilities and to local circumstances.

VAT Rate Application

Ceisteanna (154)

Jackie Cahill

Ceist:

154. Deputy Jackie Cahill asked the Minister for Finance if the full consequences have been considered in the proposal to apply VAT or to increase the rate on products such as lutein and MacuShield which are recommended by doctors and consultants following surgery for macular degeneration (details supplied); and if he will make a statement on the matter. [5119/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Under the VAT Consolidation Act, the standard rate of VAT applies to all food supplements, which are not foods in the ordinary and everyday meaning of the word. However, a longstanding concession provided through Revenue guidance permitted the zero rating of certain types of food supplements (vitamins, minerals and fish oils). Revenue published new guidance on 27 December 2018 concerning the rate of VAT that applies to food supplements. The new guidance withdraws the concessionary application of the zero rate to certain food supplements provided for in previous guidance and these products will be liable at the standard rate from 1 March 2019. Food supplement products that did not fall within the withdrawn concession were already liable at the standard rate and this remains unchanged.

Human oral medicines and other health products, including folic acid and vitamin products, that are licensed by the Health Products Regulatory Agency (HPRA) are liable at the zero rate.

Mortgage Data

Ceisteanna (155)

Pearse Doherty

Ceist:

155. Deputy Pearse Doherty asked the Minister for Finance the number of mortgages affected by the overcharging carried out by a company (details supplied) on mortgages previously owned by a bank; the average amount overcharged; when the overcharging commenced; if property that was being overcharged at the time was repossessed; and if he will make a statement on the matter. [4945/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The Central Bank of Ireland advises that it is not aware of an overcharging issue in relation to the entity referred to by the Deputy. However, the Bank has also indicated that if the Deputy has any relevant information which he wishes to bring directly to its attention, it will consider such information in the context of its supervisory activity.

On the other hand, if the Deputy is referring to the practice of automatic arrears capitalisation (which is the methodology used by some lenders to recalculate a borrower's contracted monthly instalment on a mortgage following a trigger event such as an interest rate change), the Central Bank has indicated that:-

- such a matter is not an overcharging issue;

- the issue is not systemic in Ireland;

- the Central Bank has checked to see if any lender operating in the Irish market had been applying the practice of automatic arrears capitalisation (and where the practice was identified, the Central Bank intervened to ensure that it ceases);

- the Central Bank found no evidence that repossessions had occurred as a result of the practice of automatic arrears capitalisation.

Tax Code

Ceisteanna (156, 162)

Brendan Griffin

Ceist:

156. Deputy Brendan Griffin asked the Minister for Finance his views on a matter (details supplied); and if he will make a statement on the matter. [4969/19]

Amharc ar fhreagra

Michael Healy-Rae

Ceist:

162. Deputy Michael Healy-Rae asked the Minister for Finance if he will address a matter (details supplied) regarding the betting tax rate; and if he will make a statement on the matter. [5087/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 156 and 162 together.

The increase in the betting duty rate from 1% to 2%, and the betting intermediary duty rate from 15% to 25%, came into effect on 1 January 2019. It is too early to draw any conclusions on the impact of these increases.

Receipts from betting duty represented less than 1% of all excise receipts in 2017 and this is also likely to be the case in for 2018. In addition, unlike other excisable commodities, there is no VAT applied on betting transactions. I have outlined why I consider the betting sector needs to make a fair contribution to the Exchequer.

In any discussion on betting duty, we must acknowledge the raised public consciousness of the problem of gambling in society. While problem gambling can result in the problem gambler, and their family, bearing the severest of economic and of course personal costs, the social costs of problem gambling can extend to their employers and to public institutions in the health, welfare and justice systems, such costs ultimately borne by taxpayers. I have outlined my view that this needs to be better reflected within the betting duty regime.

During the course of the Finance Bill process I agreed to review an alternative proposal put forward by the betting sector following the announcement of increases in betting duty in Budget 2019, and I acknowledge that small independent bookmakers may have difficulty competing with larger bookmakers with retail and/or online operations. My officials are currently considering this proposal, including the compatibility of a core element with EU rules, and will set out analysis and options in relation to betting duty at the Tax Strategy Group (TSG) meeting in July. The TSG Papers will be published on the Department's website shortly afterwards.

Tax Deduction Systems

Ceisteanna (157, 159, 175)

Pearse Doherty

Ceist:

157. Deputy Pearse Doherty asked the Minister for Finance if some or all substitute teachers are being treated in their tax affairs by the Revenue Commissioners as being on a cumulative basis instead of a week-one basis; the reason this is the case in view of the average loss in tax on a monthly basis; when the matter will be resolved; when teachers will be refunded; and if he will make a statement on the matter. [4976/19]

Amharc ar fhreagra

Willie O'Dea

Ceist:

159. Deputy Willie O'Dea asked the Minister for Finance if he is aware that as a result of IT changes in the PAYE system many persons, including a number of public servants, are paying emergency tax at a higher rate than they should be paying; the steps he is taking in view of the financial hardship caused; and if he will make a statement on the matter. [4983/19]

Amharc ar fhreagra

Michael McGrath

Ceist:

175. Deputy Michael McGrath asked the Minister for Finance if his attention has been drawn to the difficulties being experienced by substitute teachers whose payments are subject to emergency tax (details supplied); if he has been in contact with the Department of Education and Skills with a view to putting a resolution in place; and if he will make a statement on the matter. [5560/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 157, 159 and 175 together.

The Deputies will be aware that new administrative arrangements for PAYE (PAYE Modernisation) commenced on 1 January this year. These new arrangements do not affect the way income tax and other statutory deductions are calculated under the PAYE system, but do change the way employers report payroll information to Revenue. In most cases, there has been a seamless integration of the new real-time reporting arrangements into employers’ payroll systems without any impact on employees.

Revenue is aware that when DES reported pay and statutory deductions details for some substitute teachers and other staff during January, it inadvertently included a ‘cessation of employment’ date in the payroll submissions. This had the impact of stopping or reallocating those employees’ tax credits and rate-band entitlements, which in turn resulted in them suffering over-deductions of tax from their DES salaries.

Revenue understands that the issue has now been resolved by DES for all newly engaged substitute teachers and other staff and it (DES) is working to resolve the problem as quickly as possible for those who were impacted on in the earlier pay run/s. Revenue has assured me that it is in daily contact with DES and has offered every assistance, including technical expertise, to ensure the issue is rectified and any over-deductions refunded as quickly as possible.

VAT Payments

Question No. 159 answered with Question No. 157.

Ceisteanna (158)

Pearse Doherty

Ceist:

158. Deputy Pearse Doherty asked the Minister for Finance his plans to waive the requirement for a VAT guarantee for SMEs importing from the UK post-Brexit; and if he will make a statement on the matter. [4982/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Following the departure of the United Kingdom from the EU, VAT and customs duty will become chargeable at the point of importation for UK imports.

In Ireland, approved importers can use the deferred payment system allowing them to defer payment of certain charges, including customs and VAT at import, until the 15th of the month following importation. The deferred payment system requires that the importer has a comprehensive guarantee in place. The requirement for a guarantee is set out in EU legislation and is not a requirement that can be waived by a Member State.

However, Article 211 of the VAT Directive provides for the introduction of postponed accounting by Member States for certain categories of taxable persons or goods. Postponed accounting enables importers to account for import VAT through their VAT return, so that it is reclaimed at the same time it is declared. Whilst some Member States provide for postponed accounting, the option is currently not legislated for in Ireland.

The implications for business cash flow as a result of VAT and customs duty being chargeable at the point of importation have been identified as a consequence of Brexit and are being considered as part of the ‘whole of Government’ planning currently being undertaken.

Question No. 159 answered with Question No. 157.

Brexit Preparations

Ceisteanna (160)

Lisa Chambers

Ceist:

160. Deputy Lisa Chambers asked the Minister for Finance if sensitivity analysis was conducted on the impact of a hard or no-deal Brexit on budget 2019; if in the event of a no-deal Brexit changes to measures announced in budget 2019 are envisaged; and if he will make a statement on the matter. [5045/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

My Department’s Budget 2019 forecasts incorporate, as a central scenario, that the UK will make an ‘orderly’ exit from the EU. This would involve a transition period being agreed that extends or replicates existing frameworks until end-2020, i.e. the UK is assumed to remain in the single market and customs union during this period. From 2021 onwards, the baseline forecasts assume that the EU and UK will conclude a free trade agreement.

The impact of this scenario is to lower the level of GDP by almost 2 percentage points over the 2021-2023 period relative to a no-Brexit baseline. This feeds through to the fiscal projections underlying the Budget. The macroeconomic forecasts underpinning the Budget were endorsed by the Irish Fiscal Advisory Council as is legally required.

The section on policy strategy in the Economic and Fiscal Outlook, published as part of Budget 2019, identifies the risk of a disorderly exit and outlines that the policy response should be to enhance the resilience of the economy. Chapter 6 of the same document, on Risk and Sensitivity Analysis, includes Box 5 on alterative Brexit scenarios. This shows that over the medium-term (i.e. after five years) the impact of a disorderly Brexit would be to reduce the level of GDP by around 3¼ percentage points compared with a no-Brexit baseline. It explicitly states that this should be seen as a minimum not a maximum effect.

The Budget 2019 Economic and Fiscal Outlook includes a sensitivity analysis, using the ESRI’s COSMO model, on the impact of a 1% deterioration in global demand on our public finances, as measured through the general government balance. This specific external shock could arise through a number of channels, including through Brexit.

A number of UK studies on the economic impact of Brexit on the UK, published in November last year, subsequent to Budget 2019, have found that it will be more negative than previously assumed. Among these studies was one by the UK National Institute of Economic and Social Research (NIESR), whose previous work on the issue was a key input to the joint Department of Finance ESRI research published in 2016.

My Department is therefore working with the ESRI on a new assessment of the economic and fiscal impact of Brexit on Ireland. This will update the 2016 exercise which has formed the basis of my Department’s forecasts since then. The results will also inform my Department’s next set of macroeconomic forecasts in the Stability Programme Update in April. This is being treated as a priority and the output is expected later this quarter.

Pending completion of the more detailed work currently underway, my Department prepared a preliminary ‘holding’ assessment based on an initial application of the latest UK NIESR estimates, which were made public on the 29 January. The update shows that, over the medium-term, by 2023 the economy would be of the order of 4.25% smaller than the Budget 2019 forecasts, and of the order of 6% lower than a no Brexit baseline.

Further, the preliminary analysis suggests that there would be a sharp deterioration in the public finances, as measured by the general government balance. In 2019 the currently projected broad balance would turn to a deficit of 0.2% of GDP, with a further decline in 2020 – from a surplus of 0.3% of GDP to a deficit of 0.5% of GDP. In the short-term, the appropriate fiscal strategy would be to allow the public finances absorb the shock – the in-built automatic stabilisers will provide the first line of defence for our economy thereby allowing a deficit to occur

Clearly the impact of Brexit upon the economy and the public finances remains highly uncertain. The timing and nature of the UK’s exit remains unclear; calibrating a model to simulate the impact of what is an unprecedented shock is challenging and the phasing-in of the economic impact is uncertain.

As more information becomes available, the Department will update and publish its assessment in the Stability Programme , which will be submitted to the European Commission in April. Additional information will be available at the time of Budget 2020, which will be introduced in October of this year, and this will enable Government to design the appropriate budgetary policy response.

Customs and Excise Staff

Question No. 162 answered with Question No. 156.

Ceisteanna (161)

Caoimhghín Ó Caoláin

Ceist:

161. Deputy Caoimhghín Ó Caoláin asked the Minister for Finance the identified number of customs posts to be filled in advance of Brexit following the advertisement of 600 posts in 2018, by county and region in tabular form; if additional posts to the already advertised 600 posts will be required; and if he will make a statement on the matter. [5075/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

In September 2018, the Government granted approval in principle for the phased recruitment of an additional 600 Revenue staff to meet the challenges posed by Brexit.

Revenue appointed over 150 staff to customs roles in the period September 2018 to 4 February 2019. Over 130 have been appointed to trade facilitation roles and 20 have been appointed to control officer duties.

Revenue has accelerated its recruitment and training plans and will appoint over 250 additional staff to Brexit related roles between now and 29 March 2019 in anticipation of a no-deal Brexit.

These posts are being filled by the recruitment of new staff from the Public Appointments Service, and from internal and interdepartmental competitions. As serving staff are taking up their new Brexit related positions, Revenue is backfilling the vacancies created through panels of candidates established from its general recruitment activity.

Revenue are on track to have appointed over 400 additional staff to customs and related roles for Brexit during the period September 2018 to 29 March 2019.

The following table provides a broad outline of the planned additional 400 staff:

Location

Number

Munster

49

BMW

48

Dublin

238

Wexford

30

Rest of Leinster

35

Total

400

Resources will be deployed based on the evolving business needs and to tackle any risks as they emerge.

In the event of a no-deal Brexit, Revenue plans to appoint a further 200 staff during the rest of 2019. This would bring the total additional staff recruited to the 600 staff required to deal with the UK withdrawal from the EU.

Question No. 162 answered with Question No. 156.

Mortgage Applications Approvals

Ceisteanna (163)

Michael McGrath

Ceist:

163. Deputy Michael McGrath asked the Minister for Finance if a lender can issue a mortgage to a person immediately after they have been discharged from bankruptcy assuming all other macroprudential requirements have been fulfilled; if there is a time limit from the date of discharge within which a lender is prohibited from offering a mortgage; if so, the time limits used by each bank operating here with regard to mortgage loans; and if he will make a statement on the matter. [5160/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

There are a number of consumer protection and other financial services regulatory provisions in place which govern the provision of new mortgage credit to consumers. For example, there are measures in the Central Bank Consumer Protection Code and the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 which, inter alia, require mortgage lenders, in the context of considering an application for mortgage credit, to carry out a credit worthiness assessment of the mortgage applicant and which also provide that a lender should only make mortgage credit available to the consumer where the result of that assessment indicates that the borrower’s obligations are likely to be met in the manner required by the proposed credit agreement.

In addition, the Central Bank’s macro prudential mortgage lending rules set out, subject to certain limited discretions, the maximum amount of a mortgage loan which can be provided to a consumer having regard to his/her income and the value of the residential property which will act as security for the loan.

However, there is no financial services regulatory measure which restricts or prevents a lender from providing a mortgage to a person who has been discharged from bankruptcy. (Bankruptcy law, however, provides that in respect of credit for more than €650, a person in bankruptcy is required to disclose his/her bankruptcy). Subject to compliance with all the relevant legal and regulatory provisions governing the provision of mortgage credit, it will be a commercial matter for each lender to decide in any particular case whether or not (or how much) credit to provide to a person who is making an application for credit.

EU Investigations

Ceisteanna (164)

Pearse Doherty

Ceist:

164. Deputy Pearse Doherty asked the Minister for Finance if other countries have made a claim on the money collected from a company (details supplied) in an escrow account following the EU Commission state aid decision; and if he will make a statement on the matter. [5197/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Notwithstanding the appeal that the Government has lodged in the Apple State aid case, Ireland is required to comply with the binding articles of the Commission’s Final Decision and to recover the alleged aid from Apple. As such the collection of the alleged State aid has been completed, with the funds having being transferred to an Escrow Fund in which they will be held until the conclusion of the legal process.

The Commission has said publicly that the recovery amount may be reduced if other countries were to require Apple to pay more taxes.

The Commission’s Decision does not change the taxing rights in other countries and what the Commission is referring to here forms part of the regular private tax process for any global company, whereby they are responsible for managing their global tax affairs in the various jurisdictions in which they are located.It is therefore a matter between the company in question and the tax authorities in the various locations where they do business as to whether there are any taxation issues to be addressed and I am not in a position to comment on that engagement due to the necessity to respect taxpayer confidentiality.

Tax Code

Ceisteanna (165)

Michael McGrath

Ceist:

165. Deputy Michael McGrath asked the Minister for Finance the position regarding the review of betting duty; when he expects it to be completed; and if he will make a statement on the matter. [5345/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The increase in the betting duty rate from 1% to 2%, and the betting intermediary duty rate from 15% to 25%, came into effect on 1 January 2019. It is too early to draw any conclusions on the impact of these increases.

Receipts from betting duty represented less than 1% of all excise receipts in 2017 and this is also likely to be the case in for 2018. In addition, unlike other excisable commodities, there is no VAT applied on betting transactions. I have outlined why I consider the betting sector needs to make a fair contribution to the Exchequer.

In any discussion on betting duty, we must acknowledge the raised public consciousness of the problem of gambling in society. While problem gambling can result in the problem gambler, and their family, bearing the severest of economic and of course personal costs, the social costs of problem gambling can extend to their employers and to public institutions in the health, welfare and justice systems, such costs ultimately borne by taxpayers. I have outlined my view that this needs to be better reflected within the betting duty regime.

During the course of the Finance Bill process I agreed to review an alternative proposal put forward by the betting sector following the announcement of increases in betting duty in Budget 2019, and I acknowledge that small independent bookmakers may have difficulty competing with larger bookmakers with retail and/or online operations. My officials are currently considering this proposal, including the compatibility of a core element with EU rules, and will set out analysis and options in relation to betting duty at the Tax Strategy Group (TSG) meeting in July. The TSG Papers will be published on the Department's website shortly afterwards.

Tax Code

Ceisteanna (166)

Pearse Doherty

Ceist:

166. Deputy Pearse Doherty asked the Minister for Finance the scope that exists to allow foster children who have been fostered for a long term by foster parents to avail of group A status under capital acquisitions tax, CAT, rules; and if he will make a statement on the matter. [5364/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am informed by Revenue that, for capital acquisitions tax purposes, the relationship between the deceased person (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which capital acquisitions tax does not arise. The Group A threshold (currently €320,000) applies, inter alia, where the beneficiary is a child (including adopted child, stepchild and certain foster children) of the disponer.

A foster child is treated as a child of the disponer and can avail of the Group A threshold in the following circumstances:

- in respect of a gift or an inheritance from a foster parent with whom he or she has lived, and who has cared for and maintained the child at his or her own expense, for a cumulative period of at least 5 years before the child’s 18th birthday, or

- in respect of an inheritance from a foster parent where, prior to the inheritance, the child had been placed in the care of the foster parent under the Child Care (Placement of Children in Foster Care) Regulations 1995, or the Child Care (Placement of Children with Relatives) Regulations 1995.

Therefore, the current position is that certain children in informal long-term foster care arrangements can avail of the Group A tax-free threshold as can children who are the subject of short-term formal fostering arrangements.

General Government Debt

Ceisteanna (167, 172, 173)

Pearse Doherty

Ceist:

167. Deputy Pearse Doherty asked the Minister for Finance the impact of a no-deal Brexit based on existing departmental analysis on general government balance projections from 2019 to 2024, or until the latest date available. [5381/19]

Amharc ar fhreagra

Pearse Doherty

Ceist:

172. Deputy Pearse Doherty asked the Minister for Finance the level of pre-committed expenditure for 2020 to 2024, in tabular form; the portion this expenditure forms of general Government balance in each year; and if he will make a statement on the matter. [5536/19]

Amharc ar fhreagra

Pearse Doherty

Ceist:

173. Deputy Pearse Doherty asked the Minister for Finance the predicted general government balance for 2019 to 2024 or the latest date available; and if he will make a statement on the matter. [5537/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 167, 172 and 173 together.

Projections for the general government balance from 2019 to 2023 can be found in table 1 of the Economic and Fiscal Outlook published as part of Budget 2019. The figures are reproduced below (table 1) for the Deputy’s convenience. Projections beyond 2023 have not been compiled by my Department.

In view of the increasing risk of a ‘no-deal’ Brexit, and the recently published UK assessments, my Department is working with the ESRI on a new medium to long-term model based assessment of the impact of Brexit on Ireland. This will update the 2016 exercise which has formed the basis of the Department’s projections since then. This is being treated as an urgent priority and the output is expected later this quarter. The results will also inform the Department’s next set of macroeconomic and fiscal projections in the Stability Programme Update 2019 in April.

Furthermore, my Department recently prepared a preliminary assessment of the projected impact of a disorderly Brexit based on the latest UK National Institute of Economic and Social Research estimates. The assessment indicates that a disorderly Brexit would result in a sharp deterioration in the general government balance, with the currently projected balance for 2019 turning to a deficit of 0.2% of GDP, followed by a further decline in 2020 to a deficit of 0.5% of GDP. The deterioration in the general government balance is summarised in the following tables.

Table 1 - general government balance

2019

2020

2021

2022

2023

general government balance Budget 2019, per cent of GDP

0.0

0.3

0.4

1.1

1.4

general government balance 'no-deal' Brexit scenario, per cent of GDP

-0.2

-0.5

-0.5

0.2

0.4

Nominal pre-committed expenditure for the period 2020 to 2023 is set out in the table below. As with the general government balance, projections beyond 2023 have not been compiled by my Department.

Table 2 - nominal pre-committed expenditure

2020

2021

2022

2023

pre-committed expenditure, € billion

1.9

1.3

0.7

0.9

general government balance, € billion

1.1

1.6

4.2

5.8

These estimates will be reassessed during 2019 and will be set out in the 2019 Mid-Year Expenditure Report.

NAMA Legal Cases

Ceisteanna (168)

Catherine Murphy

Ceist:

168. Deputy Catherine Murphy asked the Minister for Finance the number of criminal cases arising from breaches of section 172 of the National Asset Management Agency Act 2009 since its introduction; the number of investigations that have taken place regarding suspected breaches of section 172 in the same time period that did not follow through to criminal conviction; and if he will make a statement on the matter. [5503/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Section 172(3) of the NAMA Act 2009 is a legal provision preventing any interest in property held as security for loans acquired by NAMA from being sold back to defaulting debtors, or persons acting on behalf of defaulting debtors.

In order to ensure compliance with Section 172(3), I am advised that NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured assets which confirms that, among other things, the purchaser is not a party precluded from completing the purchase by virtue of Section 172(3) of the NAMA Act. I am advised that Section 172(3) confirmations are examined by NAMA before a sales transaction closes.

I am advised by NAMA that to date, so far as it is aware, there have been no criminal cases arising from breaches of Section 172(3) of the NAMA Act 2009. As regards investigations, I am advised that NAMA has carried out two investigations into alleged breaches of Section 172(3) of the NAMA Act 2009. In relation to one of these alleged breaches, I am advised that NAMA has concluded its investigations and is satisfied that no breach has occurred. I am advised that NAMA is aware that An Garda Síochána is separately investigating the other alleged breach. Criminal investigations are a matter for An Garda Síochána and the DPP and to date, their investigations have not resulted in a prosecution.

Mortgage Data

Ceisteanna (169)

Pearse Doherty

Ceist:

169. Deputy Pearse Doherty asked the Minister for Finance the number of mortgage loans, that is, private dwelling homes and buy-to-let, respectively within each sale (details supplied) that were in arrears of at least one day, in arrears of over 90 days and in arrears of 720 days or over; and if he will make a statement on the matter. [5507/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

PTSB has confirmed the following in relation to Project Glas and Project Glenbeigh:

"Permanent TSB (the “Bank”) announced details of Projects Glas and Glenbeigh in July and November 2018 respectively.

"The Bank confirmed that the average arrears time of loans in the Glas Portfolio was 3.5 years. The Bank further confirmed that all of the loans in Glenbeigh Portfolio were meeting the terms of agreed restructuring arrangements.

The Bank did not publish or make publically available further information on the arrears profile of the aforementioned portfolios as this was, and is, considered commercially sensitive information."

In relation to Ulster Bank's Project Scariff, as the bank is an independent commercial company, I can confirm that the information requested by the Deputy is not held in the Department of Finance.

Mortgage Data

Ceisteanna (170)

Pearse Doherty

Ceist:

170. Deputy Pearse Doherty asked the Minister for Finance if an analysis has been carried out on the number and value of mortgages that will be owned by non-bank entities if sales processes already notified proceed by the nature of the entity (details supplied). [5508/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Information on the number and value of mortgages owned by banks and non-banks can be found in the Central Bank of Ireland quarterly statistics on mortgage arrears and repossessions on Principal Dwelling Houses (PDHs) and Buy to Lets (BTLs). At present, the information on non-banks is broken down by retail credit firms and unregulated loan owners.

The latest statistics, in respect of Q3 2018, were published on 18 December 2018 and can be found at: https://www.centralbank.ie/statistics/data-and-analysis/credit-and-banking-statistics/mortgage-arrears.

I have been advised by the Central Bank that it is aware of forthcoming transactions through supervisory engagement with the banks and retail credit firms and the Central Bank ensures that these transactions are reflected in the latest mortgage arrears statistics as they are published.