Results 8,721-8,740 of 9,274 for speaker:Jack Chambers

Written Answers — Department of Finance: Housing Schemes (7 Nov 2024)

Jack Chambers: Help to Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive offers a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in Section 477C of the Taxes Consolidation Act 1997. For a property to qualify for HTB, it must be...

Written Answers — Department of Finance: Housing Schemes (7 Nov 2024)

Jack Chambers: Finance Bill 2024 extends Help to Buy scheme in its current form for a further four years to 31 December 2029. This approach, gives further certainty to future homebuyers and to the market. I have no further plans in relation to the Help to Buy scheme at present.

Written Answers — Department of Finance: State Bodies (7 Nov 2024)

Jack Chambers: The Financial Services and Pensions Ombudsman (FSPO) is an important part of the robust consumer protection framework in place in Ireland to support consumers of financial products and services. It is an independent and impartial statutory body that helps to resolve complaints from consumers, including small businesses and other organisations, about the conduct of regulated financial...

Written Answers — Department of Finance: Tax Data (7 Nov 2024)

Jack Chambers: The application of the 10% rate of stamp duty to certain acquisitions of residential property is provided for in section 31E of the Stamp Duties Consolidation Act 1999, as introduced by the Finance (Covid-19 and Miscellaneous Provisions) Act 2021. I am advised by Revenue that, based on returns filed for the period since the commencement of the Section, the available information in respect...

Written Answers — Department of Finance: Departmental Correspondence (7 Nov 2024)

Jack Chambers: In advance of the Budget and annual Finance Bill, as Minister for Finance I receive a large number of submissions and correspondence on a wide range of issues. I can confirm that the correspondence to which the Deputy refers was received on 11 October 2024. The correspondence which covers a number of issues and policy areas has been referred to the relevant officials for consideration. A...

Written Answers — Department of Finance: Regulatory Bodies (7 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 67, 68, 69 and 70 together. As a matter of course, the Minister for Finance would not be made aware by the Central Bank of Ireland (CBI) of specific regulatory matters where the Minister has no role or function. As the Deputy will be aware, the CBI as the financial regulator is independent in its operations and I have no role or function as regards the...

Written Answers — Department of Finance: Middle East (7 Nov 2024)

Jack Chambers: The Government’s only formal decision in relation to it to date was to propose a 9-month timed amendment at Dáil Second Stage in May 2023. This was in order to allow for consideration of the issues raised by that Bill including alternative non-legislative based approaches or a combination of legislative and non-legislative based approaches which could achieve a similar outcome. ...

Written Answers — Department of Finance: Tax Code (7 Nov 2024)

Jack Chambers: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide a costing for the measures outlined above using information provided on tax returns alone. However, using third party data, tentative estimates of the full year cost to the Exchequer of the...

Written Answers — Department of Finance: Tax Code (7 Nov 2024)

Jack Chambers: The Research and Development (R&D) corporation tax credit is a strategically important element of Ireland’s overall support for research and development activities. Irish R&D supports form part of a suite of measures that ensures Ireland remains an attractive location for both domestic and inward investment. Ireland has successfully created a globally competitive...

Written Answers — Department of Finance: Tax Data (7 Nov 2024)

Jack Chambers: As I set out in my replies to Parliamentary Question Nos. 88 and 89 of 16 October 2024 there is limited data available on which to base any costings in relation to changes to the SFT. As there is not sufficient data available my officials could not prepare any costing on the basis of behavioural change. As discussed in detail in the report on the Examination of the SFT, considering these...

Written Answers — Department of Finance: Banking Sector (7 Nov 2024)

Jack Chambers: There is a strong consumer protection framework in place in Ireland in relation to the operation of mortgage credit agreements entered into by consumers. All Central Bank regulated mortgage entities, including those entities servicing mortgage agreements or who hold the legal title to the rights of the mortgagor, are required to comply with this framework. The Central Bank Code of...

Written Answers — Department of Finance: Small and Medium Enterprises (7 Nov 2024)

Jack Chambers: Small and medium-sized enterprises (SMEs) play a significant role in the Irish economy. As such, the Government has in place a broad range of policy measures aimed at supporting SMEs to thrive. Most recently, in May 2024 Government agreed a package of actions intended to reduce costs for SMEs. More details can be found on the Department of Enterprise, Trade and Employment's website here: ...

Written Answers — Department of Finance: Inflation Rate (7 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 78 and 82 together. At its peak in the summer of 2022 inflation was close to 10 per cent. Since then, enormous progress has been made in reducing inflation in Ireland with the headline inflation rate at or below 2 per cent since March of this year. Indeed, the latest inflation reading was just 0.1 per cent in October. Key to this moderation has been...

Written Answers — Department of Finance: House Prices (7 Nov 2024)

Jack Chambers: My Department continues to monitor all aspects of the property market – including the rate of house price inflation – on an ongoing basis, although policy issues in this area rest with the Minister for Housing, Local Government and Heritage. According to the most recent figures released by the Central Statistics Office (CSO), annual property price inflation was at 10.1 per...

Written Answers — Department of Finance: Brexit Issues (7 Nov 2024)

Jack Chambers: The implications of Brexit continue to play out despite the UK having voted to leave the European Union over 8 years ago. Following the end of the Brexit transition period on 31 December 2020, the EU applied non-tariff import controls on goods moving from the UK to the EU, including Ireland. The UK authorities did not apply their controls at the same time. After a number of years of...

Written Answers — Department of Finance: Financial Services (7 Nov 2024)

Jack Chambers: While the Minister for Finance has overall responsibility for policy matters in relation to the investment funds sector, the Central Bank of Ireland is the responsible statutory body for the authorisation and supervision of investment funds established in Ireland. The regulatory and supervisory framework under which the Central Bank exercises this mandate primarily derives from two EU...

Written Answers — Department of Finance: Tax Code (7 Nov 2024)

Jack Chambers: Every year my Department publishes an annual assessment on the Irish tax system in order to examine the structure of the Irish tax system and identify any vulnerabilities. These reports have focussed in particular on the concentration risks associated with ‘windfall’ corporation tax, i.e. revenues not linked to the domestic economy. Analysis shows that the corporate tax base is...

Written Answers — Department of Finance: Fiscal Policy (7 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 85 and 86 together. As the Deputy will be aware, institutions established under the Good Friday Agreement are key to north-south co-operation and the promotion of peace and prosperity across Ireland. With thanks to the restoration of both the Northern Ireland Executive and the Northern Ireland Assembly, the North-South Ministerial Council (NSMC) met for...

Written Answers — Department of Finance: Fiscal Policy (7 Nov 2024)

Jack Chambers: At the time of Budget 2025 last month, a General Government Balance of €23.7 billion or 7.5 per cent of GNI* was projected for this year with public debt, although still elevated, expected to continue on a downward trajectory to €217.2 billion by the end of the year. The strong position of the Irish economy is best illustrated when compared to other countries in the EU,...

Written Answers — Department of Finance: Foreign Direct Investment (7 Nov 2024)

Jack Chambers: Taxation remains one of the most effective policy levers available to any Government, and it is the prerogative of each EU Member State to develop a tax mix appropriate to their particular economy. Ireland has always maintained that tax competition is an important policy tool, particularly for smaller Member States, provided that competition is fair and based on substance. To that end,...