Written Answers Nos. 194-205
194. Deputy Claire Kerrane asked the Minister for Transport the measures that are in place or being put in place to ensure passengers changing trains throughout a journey have clear and easily visible information available to them at those stations; and if he will make a statement on the matter. [8016/23]
Amharc ar fhreagraAs the Minister for Transport, I have responsibility for policy and overall funding in relation to public transport; however, I am not involved in the day-to-day operations of public transport.
The issue of the provision of clear and easily visible information at railway stations is an operational matter for Iarnród Éireann and I have therefore forwarded the Deputy's question to the company for direct reply.
Please advise my private office if you do not receive a response within ten working days.
195. Deputy Pearse Doherty asked the Minister for Transport if he is aware that the PSO flight from Donegal to Dublin has been cancelled 12 times in 12 days with significant disruption caused to passengers, many of whom were to attend medical appointments in Dublin; the action he has and will take; and if he will make a statement on the matter. [8028/23]
Amharc ar fhreagraI can assure the Deputy that regional connectivity is of critical importance to this Government. The current Public Service Obligation (PSO) contract in place on the Donegal/Dublin route, which provides twice daily two-way air services, facilitating same day return trips from Donegal, and further international connectivity from Dublin Airport, marks Government’s commitment to ensuring continued connectivity to this region.
My Department is aware of the recent disruption to this service. It is extremely unfortunate that a technical difficulty with the designated aircraft on this route resulted in a number of cancelled flights last week, with affected passengers being offered coach transfers to Dublin or accommodation on the next available flight. However, I am pleased to advise the Deputy that my Department has been advised by the operator today (15 February) that a standby aircraft has now entered into service and is operational on this route. I have asked my Department to continue to monitor the airline's performance on this route as required under the contract.
196. Deputy Colm Burke asked the Minister for Finance the criteria under which residents are required to pay local property tax where the estate in which they live has not been taken in charge by the local authority for a period of over ten years despite repeated requests by residents; and if he will make a statement on the matter. [7792/23]
Amharc ar fhreagraOn the introduction of the Local Property Tax (LPT), the Government decided that a liability to the tax should apply to all owners of residential properties with a limited number of exemptions. Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption.
The proceeds of the LPT are largely used in the general provision and maintenance of infrastructure, services and amenities in a local authority area. Accordingly, residential property owners in estates not yet taken in charge benefit from the expenditure of these proceeds in the same way as the owners of other residential properties in the general locality in terms of the provision of public roads, footpaths, lighting, open spaces, surface water drainage and other public amenities. LPT is accordingly payable, regardless of whether or not an estate has been taken in charge.
The relevant planning and development matters fall under the responsibility of my colleague, the Minister for Housing, Local Government and Heritage. However, I am informed by the Department of Housing, Local Government and Heritage that under section 180 (1) of the Planning and Development Act 2000 (as amended), a planning authority is obliged to initiate taking in charge procedures where requested by either the developer or by the majority of owners of the dwellings within 6 months of being requested. However, this is subject to the development being completed to the satisfaction of the authority and in accordance with the permission and any conditions.
Section 180 provides that in relation to estates which have not have been completed to the satisfaction of the planning authority and enforcement proceedings have not been commenced within the relevant period, the planning authority must, if requested to do so by the majority of the owners of the houses, initiate the procedures set out in section 11 of the Roads Act for the taking in charge of an estate.
I further understand that section 180 was amended in the Planning and Development Act (Amendment) 2010 to provide that a planning authority at its absolute discretion under section 180(2A), may take in charge an unfinished estate at any time after the expiration of the planning permission in situations where enforcement actions have failed or the planning authority has not taken enforcement action (for example, where it considered such action would be futile). Planning authorities are now specifically empowered to take in charge part of an estate, or some but not all of the facilities in an estate.
Ultimately, the Department of Housing advise that progression of individual developments through the taking-in-charge process is a matter for the relevant housing developer, the residents in such developments and the relevant local authorities, following the procedures set out in section 180 of the Act.
197. Deputy Duncan Smith asked the Minister for Finance if his attention has been drawn to the extreme rise in costs for motorcycle sport insurance and its effect on motorcycle racing this year; and if he will make a statement on the matter. [7804/23]
Amharc ar fhreagra199. Deputy Richard O'Donoghue asked the Minister for Finance if his attention has been drawn to the fact that an organisation (details supplied) is unable to obtain public liability insurance to cover all event types; and if he will make a statement on the matter. [7893/23]
Amharc ar fhreagraI propose to take Questions Nos. 197 and 199 together.
I note that both questions refer to difficulties in relation to acquiring insurance for motorcycle racing. As the Deputies will appreciate, I am unable to comment on individual cases. Moreover, neither the Minister for Finance, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products. This position is reinforced by the EU framework for insurance (the Solvency II Directive).
This Government recognises the fact that a number of outdoor/high-footfall activity sectors, including motorcycle sports, are facing difficulty in terms of affordability and availability of insurance. It has therefore prioritised the implementation of the Action Plan for Insurance Reform, which aims to improve the cost and availability of insurance for all groups, including sporting organisations. The latest Implementation Report, published in November 2022, demonstrates that significant progress has been made in implementing these reforms, with approximately 90 percent of the actions either delivered or ongoing.
One of the key developments has been the implementation of the Personal Injuries Guidelines , which have reduced average award levels by nearly 40 per cent. Government has consistently emphasised its clear expectation that insurers should pass-on any savings arising from the reform agenda to customers. Minister of State Carroll MacNeill will be meeting with the main insurers in the Irish market this month in order to reiterate the need for insurers to reflect lower claims costs through reduced premiums, but also by increasing their risk appetite to provide cover to lesser-served, ‘pinch-point’ sectors.
Work remains ongoing on a whole-of Government basis to ensure the timely implementation of the remaining elements of the Action Plan . Of particular relevance are the proposed amendments to the duty of care legislation. The policy intent is that these measures will have a significant impact on the issue of slips, trips and falls, and thus should assist the sporting and outdoor activity sector as a whole.
Data from the Central Bank of Ireland illustrates that the public liability market has been loss making for a number of years, and consequently insurers are reluctant to enter into this area. At the same time, this more specialised market segment is closely linked to global insurance trends, and is therefore slower to reflect the changes being delivered through the Government reform agenda than more commoditised products, such as motor insurance. Nevertheless, there are clear signs that the market is beginning to respond to the success of the Action Plan for Insurance Reform , with insurers moving into previously problematic niche areas such as childcare, inflatables and the equestrian sectors.
In conclusion, securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland remains a key policy priority for this Government. It is therefore my intention to work with my Government colleagues to ensure that the implementation of the Action Plan will continue to have a positive impact on the affordability and availability of insurance for all groups, including sporting clubs and organisations.
198. Deputy Joe Carey asked the Minister for Finance the pressures he is putting on banks and other financial institutions to raise the interest rates on moneys that are held on deposit in view of the fact that interest rates on mortgages continue to rise; and if he will make a statement on the matter. [7773/23]
Amharc ar fhreagraNeither the Central Bank of Ireland nor I have a role in prescribing or setting the interest rates offered by banks, on either monies held on deposit or on mortgages or other credit facilities.
These are commercial matters and are the sole responsibility of the board and management of the banks. Although the State is a shareholder in some of the banks operating in the State, those entities must also be run on a commercial and independent basis, and their independence in this regard is protected by the relationship framework agreements.
In terms of the interest rates available on deposits, I am informed by the Central Bank of Ireland, that:
- Interest rates on household overnight deposits in Ireland stood at 0.03 per cent in December 2022, while the euro area equivalent was 0.07 per cent;
- Interest rates on new household deposits with agreed maturity rose to 0.63 per cent in December 2022 (0.48 per cent in November 2022) and (0.13 per cent in December 2021) in Ireland. The equivalent rate in the euro area was 1.44 per cent.
It is worth noting that at end-December 2022, €148.5 billion was held on deposit by Irish households with Irish resident credit institutions, of which €139.1 billion was in overnight deposits and €2.6 billion was on deposit with an agreed maturity. This is an unusually large share of monies held in overnight deposit by historical standards and it reflects two factors.
When interest rates were low (or negative up until July 2022), there was effectively little or no difference between the return on overnight versus term deposits for savers.
The large difference between interest rates on term deposits (0.63% in Ireland in December 2022) and overnight deposits (0.03%) is typical of rate hiking periods, and implies an increased opportunity cost of holding overnight deposits.
Over time, it would be expected to see some flow from overnight to term deposits for savers to achieve a greater return. Increasing competition to attract these relatively stable sources of funding could also contribute to a greater pass-through of policy rates into deposit rates over time.
The Deputy may also wish to note that the Competition and Consumer Protection Commission's (CCPC) website includes a number of comparison tools to help consumers shop around. These tools can be used to compare the features and rates of both lump sum deposit products and regular savings accounts.
200. Deputy Richard O'Donoghue asked the Minister for Finance if his attention has been drawn to the problems that owners of thatch properties face due to the cost of insuring these properties and the lack of companies willing to insure these properties; that fact that these properties are listed buildings and are guided by the recently released heritage report; and if he will make a statement on the matter. [7894/23]
Amharc ar fhreagraWhile neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, I can assure the Deputy that this Government is committed to improving the cost and availability of insurance for all consumers, businesses and community groups across the State.
The whole-of-Government approach being taken through the Action Plan for Insurance Reform sets out 66 actions, which aim to improve both the cost and availability of this key financial service. The latest Action Plan Implementation Report shows that 90 per cent of these actions are either initiated or ongoing.
The Department of Housing, Local Government and Heritage recently released a report on fire safety in thatched structures. This found a relatively high incidence of fire in thatched buildings in Ireland and highlighted research indicating that the great majority of thatch fires stem from a small number of causes. It outlined a number of relatively straightforward measures (including avoiding the use of solid-fuel stoves, raising chimney heights, and proper maintenance of chimney flues) which will help substantially reduce the risk of fire in thatched buildings. If the incidence of fire can be reduced, it is reasonable to expect that normal commercial competition will cause a corresponding reduction in premiums. The Department of Housing, Local Government and Heritage is currently developing public guidance based on the report findings, and my officials are working with their counterparts to disseminate this information to relevant stakeholders in the insurance industry.
Finally, I would like to take this opportunity to assure the Deputy that securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland, including for thatched properties, remains a key policy priority for this Government.
201. Deputy Catherine Murphy asked the Minister for Finance if he will provide a schedule of the non-commercial and semi-State commercial companies under his aegis; if an explanatory memorandum will be provided in respect of the policy of a dividend payment to the Exchequer from each company; the dividend paid by each company to the Exchequer for each year from 2000 to 2022; if his Department collects the funds and forwards it to the central fund or whether it goes directly; if over that period his Department has requested an increase in respect of the dividend due over its percentage shareholding; the number of occasions that it waived the dividend; the reason; and if he will make a statement on the matter. [7904/23]
Amharc ar fhreagraThe non-commercial State Bodies under the aegis of my Department are the Central Bank of Ireland, the Credit Union Restructuring Board, the Financial Services and Pensions Ombudsman, the Irish Fiscal Advisory Council and the National Treasury Management Agency.
As commercial bodies, the National Asset Management Agency (NAMA), the Strategic Banking Corporation of Ireland (SBCI) and Home Building Finance Ireland (HBFI) have provided the information below.
NAMA expects to generate a total lifetime surplus of €4.5bn from its activities. €3.5bn has been transferred to the Exchequer to date and a further €1bn will be paid by end-2025, subject to market conditions. Dividends paid by NAMA since its establishment in 2009 as are follows:
|
Year |
2009-2019 |
2020 |
2021 |
2022 |
Total |
|
Dividend Paid |
- |
€2bn |
€1bn |
€500m |
€3.5bn |
The SBCI may pay such dividends to the Minister for Finance as may be decided by its Board. All amounts representing dividends or other moneys received by the Minister in respect of shares held by him or her in the share capital of the SBCI shall be paid into, or disposed of for the benefit of, the Exchequer in such manner as the Minister may direct. Since its establishment, the SBCI has not paid a dividend.
HBFI may pay such dividends to the Minister for Finance as may be decided by the board of HBFI following consultation with the Minister. Since its inception in December 2018, no dividend has been paid by HBFI to the Exchequer.
202. Deputy Carol Nolan asked the Minister for Finance if he has received a request from the Minister for Children, Equality, Disability, Integration and Youth to identify properties under the control of his Department or under the control of agencies under the remit of his Department for the purposes of providing accommodation to international protection applicants or beneficiaries of temporary protection; if he has identified potential properties and their locations; and if he will make a statement on the matter. [7935/23]
Amharc ar fhreagraI can confirm that I received a letter from the Minister for Children, Equality, Disability, Integration and Youth seeking facilities that could be used to accommodate people. I can also confirm that the Department of Finance has no suitable accommodation that could be used for such a purpose. Officials from my department have, however, sought information from the bodies under the department's aegis to establish if some buildings could be found.
I fully appreciate the urgency of this matter and will respond to the Minister immediately once those responses are received.
203. Deputy Paul Kehoe asked the Minister for Finance if there is any consideration being given to the removal of deemed disposal tax (details supplied) as deemed disposal makes it extremely difficult for ordinary people to invest in the stock market, giving very few options to protect or grow wealth; and if he will make a statement on the matter. [7982/23]
Amharc ar fhreagraAs the details supplied by the Deputy refer to the applicability of the 8 year deemed disposal rule in relation to Exchange Traded Funds, this answer is provided in that context.
The term “Exchange Traded Fund” or “ETF” is a general investment industry term that refers to a wide range of investments. ETF investments can take many different legal and regulatory forms even where they are established within the same jurisdiction.
An ETF is an investment fund that is traded on a regulated stock exchange. A typical ETF can be compared to a tracker fund in that it will seek to replicate a particular index.
ETFs, being collective investment funds, generally come within the regimes set out in the Taxes Consolidation Act 1997 for such funds. The domicile of the ETF will generally determine the applicable fund regime, specifically whether the ETF falls within the domestic fund regime or the offshore fund regime.
Where the domestic fund regime applies, a ‘gross roll-up’ applies such that there is no annual tax on income or gains arising to a fund but the fund has responsibility to deduct an exit tax in respect of payments made to certain unit holders in that fund. To prevent indefinite or long-term deferral of this exit tax, a disposal is deemed to occur every 8 years. Where the offshore fund regime applies, the applicable tax treatment depends on the location and nature of the fund.
Income and gains arising from investments into Irish and EU domiciled ETFs are subject to income tax at a rate of 41% on a self-assessment basis. Such income and gains are not subject to Pay Related Social Insurance (PRSI) or Universal Social Charge (USC) liabilities. This charge to tax does not apply in the case of unit holders who are non-resident. In the case of non-resident investors, liability to tax on gains from the fund will be determined in their home jurisdiction.
To assist taxpayers in determining the appropriate tax treatment for investments in ETFs, Revenue has published guidance which is available at www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-27/27-01a-03.pdf.
It is worth noting that, as part of his Budget 2023 speech, my predecessor announced the intention to establish a working group to consider the taxation of funds, life assurance policies and other investment products. Specific detail on the parameters of such a review and timelines are still being worked out and once a thorough consideration of the matter takes place, I will share the terms of reference in due course.
204. Deputy Pearse Doherty asked the Minister for Finance the total compensation paid by payment service providers and payment institutions to victims of authorised push payment fraud in each of the years 2016 to 2022; and if he will make a statement on the matter. [8018/23]
Amharc ar fhreagraDirective 2015/2366/EU on payment services (or “PSD2”) was transposed into Irish law, with effect from 13 January 2018, by the European Union (Payment Services) Regulations, 2018 (S.I. No.6 of 2018).
The Payment Services Regulations set out the industry requirements concerning liabilities for unauthorised payment transactions and the applicable security requirements to help protect consumers against fraud. However, there is no requirement for payment services providers to compensate costumers where authorised push payment fraud occurs.
I am informed by the Central Bank of Ireland that it does not collect data in relation to the total compensation paid by payment service providers and payment institutions to victims of authorised push payment fraud.
205. Deputy Cathal Crowe asked the Minister for Finance the total number of employees that were supported by the temporary and employment wage subsidy scheme by county, in tabular form. [8039/23]
Amharc ar fhreagraI am advised by Revenue that the county breakdown of employees supported by the wage subsidy schemes is available in the following table.
|
- |
Employment Wage Subsidy Scheme (EWSS) |
Employment Wage Subsidy Scheme (EWSS) |
Temporary Wage Subsidy Scheme (TWSS) |
Temporary Wage Subsidy Scheme (TWSS) |
|
% |
Number |
% |
Number |
|
|
Carlow |
1.2 |
8914 |
1.4 |
9656 |
|
Cavan |
1.4 |
10400 |
1.6 |
11036 |
|
Clare |
2.6 |
19314 |
2.2 |
15174 |
|
Cork |
10.0 |
74285 |
10.7 |
73801 |
|
Donegal |
3.2 |
23771 |
2.6 |
17933 |
|
Dublin |
30.1 |
223599 |
28.4 |
195883 |
|
Galway |
5.4 |
40114 |
5.5 |
37935 |
|
Kerry |
3.9 |
28971 |
3.1 |
21382 |
|
Kildare |
4.8 |
35657 |
5.2 |
35866 |
|
Kilkenny |
1.7 |
12629 |
1.8 |
12415 |
|
Laois |
1.4 |
10400 |
1.5 |
10346 |
|
Leitrim |
0.6 |
4457 |
0.6 |
4138 |
|
Limerick |
3.7 |
27486 |
3.7 |
25520 |
|
Longford |
0.7 |
5200 |
0.8 |
5518 |
|
Louth |
2.7 |
20057 |
2.9 |
20002 |
|
Mayo |
2.6 |
19314 |
2.5 |
17243 |
|
Meath |
4.6 |
34171 |
4.9 |
33797 |
|
Monaghan |
1.2 |
8914 |
1.5 |
10346 |
|
Offaly |
1.3 |
9657 |
1.5 |
10346 |
|
Roscommon |
1.1 |
8171 |
1.2 |
8277 |
|
Sligo |
1.2 |
8914 |
1.2 |
8277 |
|
Tipperary |
2.5 |
18571 |
2.9 |
20002 |
|
Waterford |
2.2 |
16343 |
2.5 |
17243 |
|
Westmeath |
1.6 |
11886 |
1.8 |
12415 |
|
Wexford |
3.3 |
24514 |
3.4 |
23451 |
|
Wicklow |
3.1 |
23028 |
3.1 |
21382 |
|
County Unknown |
1.9 |
14116 |
1.5 |
10344 |
|
Total (%) |
100.0 |
100.0 |
||
|
Total Employees |
742853 |
689728 |
Further statistical information on the schemes is available on the Revenue website at:
revenue.ie/en/corporate/information-about-revenue/statistics/number-of-taxpayers-and-returns/covid-19-support-schemes-statistics.aspx
Please note that there is a slight variation between the figures listed in the table and those on the link above. This is due to the outcome of various compliance interventions since the data on the website was published. It is expected that Revenue will publish a final EWSS statistical publication in H2 2023.
