Written answers

Thursday, 5 November 2020

Department of Finance

Tribunals of Inquiry

Photo of Neasa HouriganNeasa Hourigan (Dublin Central, Green Party)
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105. To ask the Minister for Finance if all recommendations of the Moriarty tribunal have been implemented; the recommendations that are outstanding; when they will be implemented; and if he will make a statement on the matter. [34514/20]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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The Moriarty Tribunal made a number of recommendations which affected a number of Government Departments. As Minister for Finance, I can only respond in relation to the recommendations made in relation to my own Department.

As the Deputy will be aware, the tribunal pointed out problems to be addressed in our system of financial regulation. Poor supervision, an overly-deferential attitude by regulators, poor assessment of risks and a lack of follow-through on enforcement, all played a part in the financial crisis. I and my European counterparts have been working steadfastly since the financial crisis to bring about strengthened oversight and resolution regimes. The entire financial services landscape has changed significantly, characterised by the presence of new European institutions; strengthened regulations; a more intrusive supervisory approach; and a new focus on macro-prudential requirements.

In addition to the developments at European level, we continue to look at how we can improve on the domestic supervisory framework and, in this regard, we have committed in our Programme for Government to introduce a Senior Executive Accountability Regime to deliver heightened accountability within the banking system.

In response to the Tribunal recommendations I considered the provision of tax relief for donations to political parties and decided against introducing such relief. The Electoral (Amendment) (Political Funding) Act 2012 provided for changes to the Electoral Act, 1997 and imposed new limits for donations. Donations to individuals exceeding €600 must be declared and donations exceeding €1,000 in any one year may not be accepted. Political party donations greater than €1,500 must be declared and donations greater than €2,500 in any one year may not be accepted. These limits, in themselves, should act to deter any attempts by wealthy individuals to influence political activity.

Recommendation: Representations to Revenue by Office holders

In relation to this proposal, I remain of the view that this recommendation could best be considered in the context of the Government's overall approach to political and parliamentary reform. Representations are a valid part of the political process. The Government may wish to consider whether this recommendation should be confined to Revenue, or to Office holders, or whether the Commissioners decision to publish data on the volume of representations made by each Deputy is an adequate response.

The Office of the Revenue Commissioners has advised in relation to the following recommendations of the Moriarty Tribunal:

Recommendation: Independence of the Revenue Commissioners

Section 101 of the Minister and Secretaries (Amendment) Act 2011 placed on a statutory basis the independence of the Revenue Commissioners in the exercise by the Commissioners of their statutory functions under the various taxation and customs enactments. This has given effect to the recommendation of the Report of the Tribunal into Payments to Politicians and Related Matters (that is, the report of Mr. Justice Moriarty), that the principle or convention of the independence of the Revenue Commissioners be placed on the more robust status of a legislative provision.

Recommendation: Transmission to other agencies of information obtained by Revenue under bilateral agreements

This recommendation has been considered. These agreements are international treaties which are very precisely drawn as to the purpose for which information may be used and would not permit such transmission. However, if opportunities arise in the future, the Commissioners will consider the matter further.

However, where in the particular context of multilateral automatic exchange of information arrangements, specific circumstances arise on a case-by-case basis that would warrant Revenue considering requesting permission under those arrangements from the tax authority providing the information concerned to transmit information to another agency, Revenue will do so.

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