Results 861-880 of 9,549 for speaker:Jack Chambers
- Written Answers — Department of Finance: Capital Expenditure Programme (6 Nov 2024)
Jack Chambers: I wish to inform the Deputy that the Department of Finance has made no capital investment in East Meath since 2020. The Department of Finance is a policy oriented Department and while it contributes to Government plans it is unlikely to be involved in the delivery of capital investments in specific constituencies.
- Written Answers — Department of Finance: Tax Credits (6 Nov 2024)
Jack Chambers: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. In relation to the question of parents paying for their children who are studying abroad and in a tenancy outside the State, the purpose behind the Rent...
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: Sorry?
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: We have set out the-----
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: There has been no legal or administrative change. They are working together to try to deliver an operating model that allows them to continue that important work.
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: I acknowledge everyone who has spoken. There was a wide array of topics referred to and I will try to respond on some of them. On amendments numbers 2, 3 and 4, on the universal social charge, the Rural Independent Group has requested a report on the abolition of the charge for those earning less than €70,000 per annum and a report on abolishing the charge for all employees in the...
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: What about USC?
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: We went to the chamber of commerce.
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: Deputy McGrath asked about the previous manifesto. To be clear, we said the USC would be reduced from 4.5% to 3.5%. We reduced it from 4.5% to 3%, so we actually went further than we set out in the manifesto in 2020.
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: That is to be factual in reply to Deputy McGrath's question. On Deputy Doherty's question, I have set out my perspective on the three changes we have made around personal tax credits, USC and the standard rate. Even if we were to use the median, the CSO figures published today show it is €43,000 for 2023. It is likely to be higher in 2024 and higher again in 2025, so many of the...
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: When you take the progressivity of all these measures, the effective tax rate of someone on €25,000 has gone from 12.5% to 9.4% in five years. That is a low-income worker. Someone on €35,000 has gone from 17.1% to 14.4%. Someone on €40,000 has gone from 20.9% to 16%. Someone on €50,000 has gone from 26.4% to 20.6%. I can go on. It demonstrates the...
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: As the Deputy knows, the committee of which he is a member agreed to postpone the specific hearing on that to get legal advice. Everyone agrees there is a need to take action in the context of the FSPO and the amendment that is required and the Government has said that. That is why, what I have set out in the context of the CCMA, is the overall consumer protection code-----
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: -----and what we have said is that the legislation is waiting for a date from the committee.
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: I have set out the context on the CCMA, which is factually correct.
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: On the CCMA, it is correct.
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: I referenced the FSPO in the context of the appeal procedure and the fact they must inform borrowers of their right to refer the matter to them. That is the context in which I set out my remarks relating to the code of conduct and mortgage arrears. I have also set out that we agreed with the committee on the need to have an amendment and that was subject to legal advice. There was...
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: That was my reference-----
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: For reference, I can set out what I stated, which related to the CCMA and the appeals procedure relating to it when it comes to borrowers referring the matter to them. We are on the record as saying what is required in the context of the amendment before the committee, where there is cross-party support for that.
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: This section of the Bill amends section 531AN of the Taxes Consolidation Act 1997 to give effect to the two changes to the universal social charge that were announced in budget 2025. First, the ceiling of the second rate of USC, that is, the 2% rate, will increase to take account of the increase in the national minimum wage. It is increasing by 80 cent per hour, that is, from €12.70...
- Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)
Jack Chambers: To speak about the amendment tabled, the specific wording proposed by the Deputies would have no effect if incorporated into the Finance Bill. For this reason, I cannot accept it. The proposed amendment is to section 1, which provides for the meaning of words in Part 1. Inserting a definition here does not change the meaning of words in the Taxes Consolidation Act 1997 and, as such, the...