Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

When it comes to banks, because the existing levy comes to an end in law this year, we are carrying out a review. I will make the decision about the future of that levy known when the budget is announced. As the Deputy will be aware, I published a terms of reference for a review of the investment fund sector on 6 April. Specifically with regard to the taxation of funds, the review will examine the role of real estate investment trusts, REITs and Irish real estate funds, IREFs, in the property sector, including how they support housing policy objectives. There is a role for institutional investors in our housing market to provide the capital needed to meet critical housing needs. The review will take an evidence-based approach to assessing this role. There will be extensive engagement with the sector, relevant public sector representatives and other stakeholders, and Members of this House will have the opportunity to input into that review directly. I look forward to discussing it with the Deputy in the period ahead.

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