Results 8,621-8,640 of 9,274 for speaker:Jack Chambers

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: 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: 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: What about USC?

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: 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.

Seanad: Finance Bill 2024: Second Stage (6 Nov 2024)

Jack Chambers: I thank the Cathaoirleach and appreciate the opportunity to present the Finance Bill to the Seanad. I am pleased to be here today to discuss the Bill. I understand that Senators have been sent a summary of the Bill which addresses each individual section. I will use the time available to highlight some of the key measures. As we know, the Finance Bill gives legislative effect to the...

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank Senator Gavan for raising this matter. As Senators will be aware, the credit was first introduced in the Finance Act 2022 at a value of €500 for single people and €1,000 for jointly assessed married couples. It has played a valuable role in providing financial support to renters right across the country. The credit was subsequently increased in 2023 by €250 to...

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank Senator Gavan for submitting these recommendations and I will respond to them. Recommendation No. 6 relates to the changes to PRSAs introduced in section 12. The section amends the Taxes Consolidation Act 1997 to introduce limits on the tax relief available for employer contributions to personal retirement savings accounts and pan-European pension products. Prior to 31 December...

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank Senator Higgins for her contribution. I also welcome all the students who are here from Cork. I am familiar with their school. I played sport against their school some years ago. I think we won down in Cork, they will be glad to know. They are very welcome. Senator Higgins referred to the cost of the changes and the SFT in the context of the decision points we have taken. We...