In response to the Deputy's question, the consultant reports commissioned by my Department since March 2011 are listed in the following table.
Was asked: the number of contracts and-or tenders that have been awarded to a company (details supplied); the value of these contracts, that is, the amount the company has been paid; the services the contract...
My Department does not have any contracts with the company in question.
VAT Yield
Was asked: the amount of VAT collected from forms of gambling that are subject to VAT in 2016, 2017 and to date in 2018; and if he will make a statement on the matter.
I am advised by the Revenue Commissioners that traders are not required to separately identify the yield generated from a particular activity or product type on their VAT return. Therefore, it is n...
Central Bank of Ireland
Was asked: the location of Ireland’s gold reserves; his plans to move these reserves onto the island of Ireland in the event of Brexit; and if he will make a statement on the matter.
Ireland’s gold reserves are held at the Bank of England. In accordance with Article 127(2) of the Treaty on the Functioning of the European Union and Article 3.1 of the Statute of the European Syst...
Insurance Industry
Was asked: if there are rules in place obliging life insurance providers to retain policy records for a certain number of years after the final transaction on the insurance account; and if he will make a stat...
As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. I have no role in day to day supervision of the insurance industry, as this is ...
I am informed by the Central Bank of Ireland that Chapter 11 of the Code contains a number of record keeping requirements for regulated entities which includes insurance undertakings and insuranc...
Home Building Finance Ireland Establishment
Was asked: the status of the operation of the home building finance Ireland,HBFI, scheme; the way in which it is planned that apartment owners or management companies can apply for loans to enable them to und...
Home Building Finance Ireland (HBFI) is being established as one of a number of measures to address the housing crisis. It will provide a source of funding for small to medium sized residential dev...
It is important to emphasise that in order for HBFI’s activities to comply with State aid rules it must operate on a commercial basis. This means, for example, that HBFI will not be in a position...
It is important to recognise that the funding of remediation works are complex and high risk projects and pose significant issues for lenders in relation to access to appropriate security etc. Wh...
Strategic Banking Corporation of Ireland
Was asked: if there is an independent complaints mechanism for persons or companies wishing to make complaints against the Strategic Banking Corporation of Ireland, SBCI; and if he will make a statement on th...
The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s national promotional institution with a mandate to deliver effective financial supports to Irish SMEs. I am advised that complaints ...
Was asked: the funding available for loans and credit insurance, respectively, by strategic banking Ireland; the number of applications received since its establishment in respect of each of the categories; t...
I presume the Deputy is referring to the Strategic Banking Corporation of Ireland, the SBCI. The SBCI is Ireland’s national promotional institution for SMEs. The SBCI does not provide financing d...
The strategic mission of the SBCI is to deliver effective financial supports to Irish SMEs. The SBCI achieves this through the provision of low cost liquidity and risk-sharing activities, which ...
In respect of the figures sought by the Deputy, I am advised that the SBCI does not obtain details of the number of applications for loans made to its on-lending partners and does not receive loa...
At the end of March 2018, the total volume of SBCI supported lending activity through eight on-lending partners, including loans made under the SBCI’s risk-sharing guarantee schemes, was €972 mil...
The Agriculture Cashflow Support Loan Scheme and the Brexit Loan Scheme are the SBCI’s two major risk-sharing guarantee Schemes.
Under the Agriculture Cashflow Support Loan Scheme, which has now concluded, a total of approximately €145 million of loans were drawn down by over 4,200 SMES. These loans were made available th...
Up to €300 million of funding to SMEs and small MidCaps is currently available under the Brexit Loan Scheme. There is a two-stage application process for this funding. First, businesses must ap...
Since the launch of the Brexit Loan Scheme on 28 March 2018 to 23 November 2018, the SBCI has received 307 applications. Of these, 270 have been deemed eligible to proceed to one of the particip...
The SBCI also operates the Credit Guarantee Scheme on behalf of the Minister for Business, Enterprise and Innovation. In the last two years, loans of €28.7 million have been supported under the S...
The Central Bank of Ireland’s “Code of Conduct for Business Lending to Small and Medium Enterprises” applies to applications made to the SBCI’s on-lenders that are regulated entities by the Centr...
VAT Rate Increases
Was asked: the position regarding the VAT increase and its expected negative impact on small businesses here; and if he will make a statement on the matter.
The 9% VAT rate was introduced as a temporary measure in Finance (No. 2) Act 2011, to cease at the end of 2013. This period was subsequently extended but during last year’s Finance Bill a commitme...
The Review of the 9% VAT rate found that tourism expenditure is more sensitive to income growth and the economic cycle than to price changes. The economy is currently performing well, with high ...
In this context, it is believed that the VAT rating applied to the tourism sector should not greatly impact demand, or employment, in the sector.
Ministerial Functions
Was asked: the public events he attended, by county, since 1 May 2018 and to date in 2018; and if he will make a statement on the matter.
I wish to advise the Deputy that details of public events I attend are available in my diary which is published on my Department's website at www.finance.gov.ie.
Property Tax Review
Was asked: the status of the review of the local property tax; and when homeowners can expect changes in their liability.
The report of the review of the LPT is currently being finalised in conjunction with the Departments of the Taoiseach, Public Expenditure and Reform, Housing Planning and Local Government, and the ...
Insurance Industry Regulation
Was asked: if the next payment to claimants of a company (details supplied) will be in February 2019; and if he will make a statement on the matter.
Setanta Insurance was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Malte...
Disabled Drivers and Passengers Scheme
Was asked: the number of applications received for the disabled drivers and disabled passengers tax concessions scheme in each of the past seven years; and the number of successful and unsuccessful applicatio...
I am advised by Revenue that the following table includes the total number of applications received, approved (successful) and rejected (unsuccessful) under the Disabled Drivers and Disabled Passen...
Was asked: his views on the eligibility criteria for the disabled drivers and disabled passengers tax concession scheme; and his further views on whether the qualification criteria for the scheme are outdated.
As you may be aware, the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport o...
Tax Code
Was asked: the specific professions that had their flat rate expenses regime reviewed recently; if the proposed changes are due to come into effect as of 1 January 2020; if all professions are under review; i...
I refer the Deputy to my replies to recent Parliamentary Questions from him on this matter (Nos. 164 and 158 of 13 November, No. 7 of 22 November, and No. 179 of 20 November). The review of flat r...
All 53 employment categories which benefit from the regime are being reviewed.
Was asked: the estimated cost of indexing all tax thresholds and credits by each band or credit based on wage inflation of 3.8% for the next five years.
As indicated in my previous reply to the Deputy in response to Parliamentary Questions 54 and 55 on 22 November 2018, the Revenue Ready Reckoner presents, on page 10, a table showing the estimated ...
Was asked: the number of HAP payments made to section 23 properties in each of the past three years; and if he will make a statement on the matter.
I am advised by Revenue that it can provide details on the numbers of cases that are in receipt of relief under Chapter 11 of Part 10 of the Taxes Consolidation Act 1997, commonly referred to as “S...
Revenue advise that they expect to be able to give me the information that the Deputy has asked for very shortly. I will furnish that information to him as soon as is practicable after that.
Departmental Contracts
Was asked: the number of contracts and-or tenders that have been awarded to a company (details supplied); the amount the company has been paid; the services the contracts were for; and the number of public se...
In response to the Deputy’s question, my Department has not awarded any contracts or tenders to the company in question.
Mortgage Lending
Was asked: further to Parliamentary Question No. 152 of 27 November 2018, the number of principal dwelling home loans for first-time buyers, FTBs, and second and subsequent buyers, SSBs, for each month since ...
The Central Bank advises that the macro-prudential mortgage lending rules are formulated on the basis of housing loans made by mortgage lenders. Therefore, lenders are required to report to the Ban...
Financial Services Regulation
Was asked: the number of illegal moneylenders that have been prosecuted in the past ten years; and if he will make a statement on the matter.
Was asked: the number of authorised moneylenders; the number in each of the years 2014 to 2017; the name of each and the counties in which they operate; and if he will make a statement on the matter.
Was asked: his plans to legislate to place a cap on the rates that can be charged by moneylenders; the way in which to ascertain the interest rates they charge; and if he will make a statement on the matter.
Was asked: the number of cases in which a licensed moneylender was found to be charging an APR in excess of the associated maximum APR in the Central Bank's moneylender register; if the maximum APR in that re...
I propose to take Questions Nos. 152 and 154 to 156, inclusive, together.
The Central Bank regulates the licensed moneylender sector. It is, of course, a criminal offence for a...
Illegal Moneylenders
Was asked: the steps he is taking to tackle the problem of illegal moneylenders; and if he will make a statement on the matter.
The Central Bank regulates the licensed moneylender sector. As of 27 November 2018, 39 firms are included on the Moneylender register with the Central Bank. This can be viewed from
Questions Nos. 154 to 156, inclusive, answered with Question No. 152.
Credit Union Regulation
Was asked: if he has the power to increase the 1% per month interest limit for the credit union sector; if this power is vested in the Central Bank; his plans to increase the limit to 2% to better enable cred...
Section 38 1(a) of the Credit Union Act 1997 prescribes that the interest on a Credit Union loan shall not at any time exceed 1% per month. I can confirm that the power to increase this cap has no...
As the Deputy may be aware the interest rate ceiling on Credit Union loans has been subject to recent discussion in a number of fora.
Firstly, the Credit Union Advisory Committee (CUAC) - the statutory committee whose function is to advise the Minister for Finance in relation to matters relating to credit unions - published a p...
Secondly, the CUAC Report Implementation Group - a group established to oversee and monitor the implementation of recommendations from the CUAC report - has also considered the issue of increasin...
Finally, I should also note that the CUAC recommendation on the interest rate cap is aligned with a similar recommendation that has been put forward recently in the "Interest Rate Restrictions on...
Tax Yield
Was asked: the estimated full-year cost of the increases to the standard rate cut-off point to €50,000 over the next five years (details supplied).
I am advised by Revenue that the estimated full year cost of increasing the standard rate cut off point for all income tax bands by €14,700 which would bring it to €50,000 for a single person and €...
This estimated figure has been generated by the Revenue cost model by reference to projected 2019 incomes, calculated on the basis of actual data for the year 2016, the latest year for which retu...
Revenue does not provide cost estimates beyond the tax year 2019.
Prize Bonds
Was asked: the prize fund available under the national prize bond scheme; his plans to increase the prize fund; and if he will make a statement on the matter.
The National Treasury Management Agency (NTMA) has informed me that they set the variable percentage rate used to calculate the prize fund available under the National Prize Bond Scheme. Effective...
Film Industry Tax Reliefs
Was asked: when EU approval will be secured to implement the regional uplift aspect of the film tax relief provided for in the Finance Bill 2018; and if he will make a statement on the matter.
Section 481 TCA 1997 provides a 32% payable credit for eligible expenditure on film production in Ireland. It is available to Irish and international film production companies that are resident in ...
Irish Fiscal Advisory Council Reports
Was asked: if he has received the recent report from the Irish Fiscal Advisory Council.
I assume the report the Deputy is referring to is the Fiscal Assessment Report (FAR) published by the Irish Fiscal Advisory Council on Wednesday 28 November. I have received it and would make a few...
I note the Council's endorsement of my Department’s economic forecasts for 2018 and 2019 that underpin the Budgetary arithmetic. I would also draw attention to the fact that, last month, the Euro...
The best way to mitigate these risks is to carefully manage the public finances and to ensure our economy remains competitive. That is what the Government has done in the Budget through the elimi...
I acknowledge the Council’s assertion that Ireland’s debt burden remains high. My Department publishes an Annual Debt Report to highlight this issue and I want to reiterate that reducing public d...
Finally, it should be noted that I am in the process of drafting my formal response to the FAR which will be published in due course.
Employment Investment Incentive Scheme
Was asked: further to Parliamentary Question No. 114 of 29 November 2017, the estimated cost of adapting the employment investment incentive scheme (details supplied) in tabular form.
I am informed by the Revenue that based on 2016 data, the estimated cost to the Exchequer from increasing the current allowable tax relief cap of €150,000 available to an individual investor under ...
Corporation Tax Regime
Was asked: the cost to date of the decision to allow some companies continue to use the "double Irish" until 2020; the number of companies using the scheme; the estimated net extra revenue if the close date w...
The Finance Act 2014 amended the company residence rules in section 23A to provide that an Irish incorporated company would be regarded as resident for tax purposes in the State. In essence, the ch...
As my predecessor has clearly stated in the past, the ‘double Irish’ was not part of the Irish tax offering. It was just one example of the many international tax-planning arrangements which have...
We are already seeing evidence of US companies recognising a tax charge and paying tax in the US in respect of historic profits as a result of US tax reform. I believe the changes introduced, com...
The amendment in Finance Act 2014 was brought into effect for new companies incorporated after 1 January 2015. To ensure that this change did not negatively impact on other related group compani...
I am informed by Revenue that, as the so-called ‘double Irish’ structure is not part of the Irish tax code, Revenue does not have a register of companies incorporated but not tax-resident in Irel...
Superannuation Schemes
Was asked: the number of injury warrants paid in the past five years; if there are conditions attached to these injury warrants; the range of conditions that must be met before qualifying for a warrant; the r...
The Civil Service Injury Warrants are a series of statutory instruments made under the Superannuation Acts. They provide additional benefits over and above normal pension entitlements, to or in res...
State Properties Data
Was asked: the number of State owned properties that are unoccupied; the cost associated with the maintenance and security of same; the number of properties rented by the State from private landlords; the cos...
There are currently 96 State owned properties which are unoccupied. Of these properties, 50 are Garda Stations that were closed under the 2012/2013 Policing Plans of An Garda Siochana. Of the rem...
Was asked: the estimated number of State owned properties eligible for the vacant site levy; the estimated liability to be paid in 2019; and if he will make a statement on the matter.
I have been advised by my officials that the Office of Public Works has been notified that Kilkenny County Council has placed the former Garda station at Barrack Street, Castlecomer, Co. Kilkenny o...
Departmental Staff Data
Was asked: the number of staff in the Office of the Government Chief Information Officer in each of the years from 2013 to 2017, and to date in 2018; and if he will make a statement on the matter.
Was asked: the number of persons who have held the position of Government Chief Information Officer in each of the years from 2013 to 2017 and to date in 2018; and if he will make a statement on the matter.
I propose to take Questions Nos. 169 and 170 together.
The position of Government Chief Information Officer was established in June 2013. Following this appointment the Office...
Heritage Sites
Was asked: if he will liaise with the local authority to formulate a plan for the refurbishment and ongoing use of the historical building further to repair work done to the roof of a building (details suppli...
Ministerial Meetings
Was asked: the public events he attended by county since 1 May 2018 and to date in 2018; and if he will make a statement on the matter.
I wish to advise the Deputy that details of the public events that I have attended are available in my diary which is published on my Department's website at
Coastal Erosion
Was asked: the position regarding the report that has been prepared in respect of coastal erosion across all 19 local authorities in which coastlines are under threat from erosion; and if he will make a state...
Coastal Protection
Was asked: the cost of the recent erection of the new promenade and coastal protection and rock armour in Laytown, County Meath; and if he will make a statement on the matter.
Was asked: the amount allocated to Meath County Council for the new promenade and coastal protection and rock armour recently erected in Laytown, County Meath; and if he will make a statement on the matter.
Brexit Issues
Was asked: the funding his Department, including the Office of Public Works, has allocated in each year and expended since June 2016 on upgrading infrastructure at Dublin and Rosslare ports to prepare for the...
No funding has been allocated to date by the Department of Public Expenditure & Reform or the Office of Public Works on upgrading infrastructure at Dublin and Rosslare ports to prepare for the poss...
Proposed Legislation
Was asked: when he expects to publish and introduce the Civil Service Regulation (Amendment) Bill; and if he will make a statement on the matter.
The primary purpose of Civil Service Regulation (Amendment) Bill is to allow management decisions around serious disciplinary sanctions, up to and including dismissal, to be devolved in the civil s...
State Properties
Was asked: the amount spent on the upkeep, staffing and event costs for a building (details supplied) in each of the past five years; and if he will make a statement on the matter.
Steward's House is managed as part of the estate of Farmleigh and as such, it does not have dedicated staff and annual costs are not apportioned specifically to the property.
T...
Flood Relief Schemes
Was asked: if the north quay, Drogheda, will be included in scheduled flood relief works in County Louth; and if he will make a statement on the matter.
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