Written answers

Wednesday, 14 September 2011

9:00 pm

Photo of Terence FlanaganTerence Flanagan (Dublin North East, Fine Gael)
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Question 71: To ask the Minister for Finance if he will deal with a matter (details supplied) regarding middle earning families; and if he will make a statement on the matter. [23109/11]

Photo of Terence FlanaganTerence Flanagan (Dublin North East, Fine Gael)
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Question 93: To ask the Minister for Finance if he will deal a matter (details supplied) regarding support for middle income families; and if he will make a statement on the matter. [23385/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 71 and 93 together.

The Government acknowledges the continuing cost pressures on parents, particularly those with young children. Childcare is one of the biggest issues facing working parents today. For this reason a number of support measures have been introduced. These include, (i) the Community Childcare Subvention (CCS) programme, which funds community childcare services to enable them to charge reduced childcare fees to qualifying parents, (ii) the Childcare Education and Training Support (CETS) programme, which provides free childcare places to qualifying FAS and VEC trainees and (iii) the Early Childhood Care and Education (ECCE) programme which provides for a free pre-school year for children in the year before commencing primary school. In addition, generous entitlements to paid and unpaid maternity leave are provided, as well as child benefit payments.

In order to assist with an increase in the supply of childcare places, an exemption from income tax for individuals who mind children in their own home is available. To avail of this scheme, the childminder concerned may not mind more than 3 children, excluding their own. The exemption is subject to a limit of €15,000 per annum.

I have no plans at present for any additional tax incentives in this area given the current fiscal position.

Photo of Terence FlanaganTerence Flanagan (Dublin North East, Fine Gael)
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Question 72: To ask the Minister for Finance his plans to introduce new ways of raising funds rather than applying the stamp duty levy on pension funds assets (details supplied); and if he will make a statement on the matter. [23170/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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As I explained in my speech introducing the "Jobs Initiative" in May last, the decision to fund the Initiative by way of a levy on pension funds over the 4 year period was taken because the alternatives for increases in taxation elsewhere at this time would be more damaging to the economy. I do not have any plans for alternative sources of revenue to the fund the Jobs Initiative.

Photo of Joanna TuffyJoanna Tuffy (Dublin Mid West, Labour)
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Question 74: To ask the Minister for Finance his plans to enter into negotiations with Switzerland with a view to regularising untaxed funds which Irish citizens hold in Swiss banks; if his attention has been drawn to the fact that following negotiations, the United Kingdom Government has now reached an agreement with Switzerland to tackle offshore tax evasion which is expected to secure billions of pounds of unpaid tax for the UK Exchequer; and if he will make a statement on the matter. [23203/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am not privy to the full details of the agreement to which the Deputy has referred and accordingly it would be inappropriate for me to comment on it. Initial reports would suggest that any such agreement may provide for a one-off deduction from funds on deposit to settle past liabilities and a withholding tax from 2013 in place of the actual liability due in respect of investment income and capital gains. We have no plans at present to pursue a similar approach with the Swiss Authorities; however, we will keep the matter under review when the full details of the final ratified agreement are published.

The Deputy may be aware that the Office of the Revenue Commissioners obtained High Court orders in December 2009 requiring clearing banks in the State to provide information to Revenue on details of transfers to and from the State involving a number of offshore jurisdictions including Switzerland. The orders cover the 12 years to 31 December 2008 and include electronic transfers as well as cheques and drafts either drawn in the State and sent offshore or drawn offshore and sent to the State.

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