70. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 149 of 5 December 2017, if the help-to-buy scheme applies in this instance (details supplied). (Question 53577/17 asked on 14 Dec 2017 - Help-To-Buy Scheme Eligibility)

Minister for Finance (Deputy Paschal Donohoe): I am advised by Revenue that while the details supplied indicate that the property in question was a new building which was not used as a dwelling prior to 19 July 2016, it is not clear if it was suitable for use as a dwelling prior to that date. If the property was suitable for use as a dwelling prior to the relevant date, it will not qualify under the Help to Buy (HTB) scheme.
I am further advised by Revenue that, whilst they can provide general ...

71. Deputy Michael McGrath asked the Minister for Finance the status of legal proceedings in which he and the Attorney General are cited as the defendants (details supplied); and if he will make a statement on the matter. (Question 53581/17 asked on 14 Dec 2017 - Legal Proceedings)

Minister for Finance (Deputy Paschal Donohoe): The proceedings to which you refer, are currently the subject of an appeal to the Court of Appeal by the Plaintiff and are listed before the President of the Court of Appeal on 14 December 2017 to fix a date for the hearing of the appeal. As these proceedings are before the Courts at present, I cannot comment on same.
 ...

72. Deputy Michael McGrath asked the Minister for Finance his plans to compensate private pension holders that had a pension levy imposed on their pension funds for a number of years as part of the jobs initiative of 2011; if his attention has been drawn to the fact that this levy resulted in permanently reduced pensions for many current and future pensioners; and if he will make a statement on the matter. (Question 53584/17 asked on 14 Dec 2017 - Stamp Duty)

Minister for Finance (Deputy Paschal Donohoe): I take it the Deputy is referring to the stamp duty levies applying to the assets of funded pension arrangements introduced in 2011 to pay for the Jobs Initiative, the chargeable persons for which are the trustees of pension schemes and others responsible for the management of pension fund assets. 
The stamp duty levy on pension schemes was introduced in the wake of the financial crash and at a time when the economy was in very serious difficulties....

73. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, if the figures given for net fiscal space for 2019, 2020 and 2021 include the changes announced in budget 2018; the amount by which they impacted on the net fiscal space from budget 2018 in the each of three years; and if he will make a statement on the matter. (Question 53732/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

74. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, if the figures given for net fiscal space for 2019, 2020 and 2021 include the public pay agreement; the amount by which they impacted on the net fiscal space from the public pay agreement in each of the three years; and if he will make a statement on the matter. (Question 53733/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

75. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, if the figures given for net fiscal space for 2019, 2020 and 2021 include the changes announced in mortgage interest relief; the amount by which they the impacted on the net fiscal space from the changes in the three years; and if he will make a statement on the matter. (Question 53734/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

76. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, if the figures given for net fiscal space for 2019, 2020 and 2021 include indexation measures; the amount by which they impacted on the net fiscal space from indexation measures in the three years; and if he will make a statement on the matter. (Question 53735/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

77. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, if the figures given for net fiscal space for 2019, 2020 and 2021 include the capital envelope of €4.3 billion outlined in exchequer capital envelopes 2018 to 2021; if these effects have been smoothed over the four years; and if he will make a statement on the matter. (Question 53736/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

78. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, if there are outstanding costs in relation to Irish Water that will affect the net fiscal space for 2019, 2020 and 2021; if changes made in 2017 in relation to Irish Water and water provision have been factored into the base for the net fiscal space; and if he will make a statement on the matter. (Question 53737/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

79. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, if demographic effects have been factored into the base for the calculation of the net fiscal space for 2019, 2020 and 2021; the amount of these effects; and if he will make a statement on the matter. (Question 53738/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

80. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 74 of 30 November 2017, the way in which local property tax is accounted for in the base calculation of net fiscal space; the impact in each of the years 2019, 2020 and 2021 from local property tax; if the impact incorporates the expected revaluation of properties to take place; and if he will make a statement on the matter. (Question 53739/17 asked on 14 Dec 2017 - Fiscal Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 73 to 80, inclusive, together.
As I stated in my reply to PQ number 74 of 30/11/17, the Summer Economic Statement (SES) 2016 set out estimates of gross and net fiscal space over the forecast horizon. SES 2016 also presented an indicative split between expenditure and taxation uses of these amounts as well as the provision for contributions to the Rainy Day Fund (RDF). This was subsequently updated in the SES 2017 t...

81. Deputy Michael McGrath asked the Minister for Finance the number and value of claims paid out by the State Claims Agency in each the past five years; the number and value of claims that were settled out of court; the number and value of claims settled as a result of a court decision; and if he will make a statement on the matter. (Question 53740/17 asked on 14 Dec 2017 - State Claims Agency Data)

Minister for Finance (Deputy Paschal Donohoe): As the Deputy will be aware, the NTMA is designated as the State Claims Agency (SCA) when performing the claims management and risk management functions designated to it under the National Treasury Management Agency Act 1990, as amended. 
In answer to the Deputy’s question, I refer to material provided by the SCA and which is outlined in the tables. The material provided by the SCA covers the claims during the relevant period, and the report is cor...

82. Deputy Michael McGrath asked the Minister for Finance his strategies for returning each of the State supported banks fully to the private sector; the timeframe for the full privatisation of each of the banks; the individual value of the State’s shareholding in each of the banks; the specific parameters that have to be met before further share sales takes place; if he will be informing Dáil Éireann before proceeding with such sales; and if he will make a statement on the matter. (Question 53741/17 asked on 14 Dec 2017 - State Banking Sector)

Minister for Finance (Deputy Paschal Donohoe): As the Deputy will be aware, the State currently owns c. 71% of the shares in AIB, 14% of the shares in Bank of Ireland, and c. 75% of the shares in Permanent TSB. Following the IPO of AIB earlier this year all three of our bank investments are now listed on the main markets of the Irish and London stock exchanges, providing improved liquidity and marketability for the State’s shares.
The valuation of the State’s stake in each of the banks at the c...

83. Deputy Michael McGrath asked the Minister for Finance the number of entities availing of the EIIS; the number of which are private investors, SMEs and microenterprises; the average annual relief for each private investor, SME and microenterprise; the annual cost of the scheme; the number of persons employed as a direct result of the scheme; and if he will make a statement on the matter. (Question 53742/17 asked on 14 Dec 2017 - Employment Investment Incentive Scheme Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 83 and 84 together.
The Employment and Investment Incentive (“EII”) applies to financing raised by micro, small and medium sized enterprises (being the company seeking to raise financing and all other associated companies). Where the enterprise and the investment meet certain conditions, it can raise financing from individual investors, who can claim tax relief in respect of the amount invested. Relief is granted in...

84. Deputy Michael McGrath asked the Minister for Finance the number and value of EIIS claims made each month for the past 24 months; the number and value of claims left outstanding each month for the past 24 months; the average time taken to process each claim; the way in which the EU state aid rules have affected the number of claims under the EIIS; and if he will make a statement on the matter. (Question 53743/17 asked on 14 Dec 2017 - Employment Investment Incentive Scheme Data)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 83 and 84 together.
The Employment and Investment Incentive (“EII”) applies to financing raised by micro, small and medium sized enterprises (being the company seeking to raise financing and all other associated companies). Where the enterprise and the investment meet certain conditions, it can raise financing from individual investors, who can claim tax relief in respect of the amount invested. Relief is granted in...

85. Deputy Michael McGrath asked the Minister for Finance the number of mortgage holders availing of mortgage interest relief, MIR; the number of mortgages availing of MIR; the cost in 2017 of MIR; and if he will make a statement on the matter. (Question 53744/17 asked on 14 Dec 2017 - Mortgage Interest Relief Application)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 85 and 86 together.
In Budget 2018, in fulfilment of a Programme for Government commitment, I provided for the extension of Mortgage Interest Relief (MIR) into a further three-year phase-out period for the remaining recipients of the relief. 
The process of phasing out MIR for homeowners has been under way since 2009. Relief has expired for qualifying mortgages taken out prior to 2004 and, with some limited exception...

86. Deputy Michael McGrath asked the Minister for Finance the number of mortgage holders that will still avail of MIR on 1 January 2018 in view of the changes announced in budget 2018; the number of mortgages that will still avail of MIR; the projected cost of MIR in 2018; and if he will make a statement on the matter. (Question 53745/17 asked on 14 Dec 2017 - Mortgage Interest Relief Application)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 85 and 86 together.
In Budget 2018, in fulfilment of a Programme for Government commitment, I provided for the extension of Mortgage Interest Relief (MIR) into a further three-year phase-out period for the remaining recipients of the relief. 
The process of phasing out MIR for homeowners has been under way since 2009. Relief has expired for qualifying mortgages taken out prior to 2004 and, with some limited exception...

87. Deputy Michael McGrath asked the Minister for Finance the annual return from ISIF in each of the years since its creation including 2017; the annual return from the global portfolio, domestic portfolio and directed portfolio respectively in each of the years; and if he will make a statement on the matter. (Question 53746/17 asked on 14 Dec 2017 - Ireland Strategic Investment Fund Investments)

Minister for Finance (Deputy Paschal Donohoe): The NTMA have supplied the information requested by the Deputy in the form of the following table:
   Directed TotalDiscretionary Irish Global 2015* 16.6% 1.5% 12.3% 0.1% 2016 -7.9% 2.9% 6.5% 2.2% YTD   Sep 2017 14.7% 3.0% 3.4% 2.9% Annualised since inception 8.0% 2.7% 7.9% 1.9% *Inception 21 Dec 2014 to end 2015         

Notes:
The Discretionary Portfolio seeks to generate a return, over the long term, in excess of the c...

88. Deputy Michael McGrath asked the Minister for Finance the annual cost of the research and development tax credit in each year since 2012, including 2017; the number of multinationals claiming the credit in each of these years; the taxable profits of the multinationals that claimed the research and development credit in each of these years; the number of SMEs claiming the credit in each of these years; the taxable profits of the SMEs that claimed the research and development credit in each of these years; and if he will make a statement on the matter. (Question 53747/17 asked on 14 Dec 2017 - Tax Data)

Minister for Finance (Deputy Paschal Donohoe): I am advised by the Revenue Commissioners that information in respect of the annual cost of the Research and Development (R&D;) credit and the number of companies availing of the scheme is as follows:
 Year 2015 2014 2013 2012 €m 707.9 553.3 421.4 281.9 No. of Companies 1,535 1,570 1,576 1,543 

This information is available at www.revenue.ie/en/corporate/documents/statistics/tax-expenditures/costs-tax-expenditures.pdf for al...

89. Deputy Michael McGrath asked the Minister for Finance the amount invested by Activate Capital in 2017; the average interest charged on the finance provided; the number of homes completed in each of the years since its creation including 2017; the way in which the rate of interest will compare to the new Home Building Finance Ireland rate; and if he will make a statement on the matter. (Question 53748/17 asked on 14 Dec 2017 - Ireland Strategic Investment Fund Investments)

Minister for Finance (Deputy Paschal Donohoe): The ISIF have informed me that the Activate Capital is a €500 million fund, which is financed through a €325 million loan note from the Ireland Strategic Investment Fund (ISIF) and a €175 million loan note provided from KKR.  It became operational in January 2016 with funding provided by Activate for 3,600 houses as at September 2017. As Activate’s purpose is to provide funding for development but not to act as developer itself, ISIF can only share...

90. Deputy Michael McGrath asked the Minister for Finance the reason for the shortfall in income tax compared with target as outlined in the November 2017 fiscal monitor; if he will provide an outturn versus target breakdown of income tax, by PAYE, self-assessment income tax, universal social charge and other classifications of income tax in 2017; and if he will make a statement on the matter. (Question 53749/17 asked on 14 Dec 2017 - Tax Data)

Minister for Finance (Deputy Paschal Donohoe): The position is that at end-November 2017, cumulative income tax receipts of €18,283 million were marginally down 1.4 per cent or €251 million against profile.   This represents strong annual growth of 4.2 per cent or €738 million. Furthermore, it is also worth pointing out that there were significant one-off income tax payments in the comparable period last year, amounting to c. €300 million.  Excluding, these the underlying income tax position is ...

91. Deputy Michael McGrath asked the Minister for Finance the number of companies availing of the knowledge development box; the cost of the programme in 2016; the number of MNEs obtaining the relief in 2016; the cost of these claims; the number of MNEs that were expected to claim the relief; the number of SMEs that claimed the relief; the cost of these claims; the number of SMEs that were expected to claim the relief; and if he will make a statement on the matter. (Question 53750/17 asked on 14 Dec 2017 - Knowledge Development Box)

Minister for Finance (Deputy Paschal Donohoe): I am advised by the Revenue Commissioners, that the Knowledge Development Box (KDB) only applies for accounting periods commencing on or after 1 January 2016. The claimant company has a period of up to 24 months to make a claim for relief under the KDB.
A small number of companies (less than 10) whose accounting periods ended on or before 31 December 2016 have submitted claims for their 2016 tax returns. Due to taxpayer confidentiality, Revenue ca...

92. Deputy Michael McGrath asked the Minister for Finance the status of the planned wind up of NAMA; the details of the portfolio that is remaining; the current estimate of the timeframe and the financial outturn from the wind up of NAMA; and if he will make a statement on the matter. (Question 53751/17 asked on 14 Dec 2017 - NAMA Portfolio)

Minister for Finance (Deputy Paschal Donohoe): I propose to take Questions Nos. 92 and 126 together.
I wish to advise the Deputy that there has been no change to NAMA’s expectation that it will complete its work by 2020. The Agency announced in October that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State. However, notwithstanding the successful achievement of this primary and important objective, three years ahead of schedule, there is still a significant bo...

93. Deputy Michael McGrath asked the Minister for Finance the expected impact Brexit will have on Ireland’s annual contribution to the EU budget; and if he will make a statement on the matter. (Question 53752/17 asked on 14 Dec 2017 - EU Budget Contribution)

Minister for Finance (Deputy Paschal Donohoe): As the Deputy will be aware, negotiations are currently on-going. Therefore, as you can appreciate, it would not be appropriate for me to discuss those negotiations in detail at this point. Ireland wants a financial settlement reached in a fair and transparent manner on the basis of an agreed, objective methodology, that enables a positive future relationship between the EU and the UK and which reflects the UK’s legal and budgetary commitments und...

94. Deputy Michael McGrath asked the Minister for Finance the gross contribution Ireland has made to the European Union budget per annum from 2010 to 2016; the estimated contribution in 2017; the net benefit or contribution made in each year, in tabular form; and if he will make a statement on the matter. (Question 53753/17 asked on 14 Dec 2017 - EU Budget Contribution)

Minister for Finance (Deputy Paschal Donohoe): As the Deputy will be aware and as outlined in the table, Ireland became a net contributor to the EU budget in 2014. 
EU budget payments and public sector receipt data are published annually by the Department of Finance in the Budget Statistics publication. The public sector receipt measure captures funds under ‘shared management’ between national and EU authorities. In addition, the EU also pays some additional receipts directly to private benefi...