Results 861-880 of 9,537 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: 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...

Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)

Jack Chambers: An amendment has been made regarding the FSPO, as the Deputy is aware, in the context of what he has set out. The Government previously sought to correct this. I have set out the robust framework in place to protect people dealing with issues such as mortgage arrears. The CCMA forms part of the Central Bank’s consumer protection framework and is a central part of its overall...

Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)

Jack Chambers: Gabhaim buíochas leis an Leas-Cheann Comhairle. I wish to draw Deputies' attention to a minor typographical error that my Department has noted in the Bill on page 161, line 14. A reference has been inadvertently labelled “89A(ii) of (iii)” rather than the correct version of “89A(ii) or (iii)”. I seek to invoke Dáil Standing Order 196 to request that...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: Sections 100 and 101 of the Finance Bill 2024 (as initiated) provide for the introduction of a revised form of relief from Capital Acquisitions Tax (CAT) for gifts and inheritances of agricultural property where certain conditions are met. I will bring an amendment at Committee stage of the Finance Bill to provide that these provisions will be subject to a commencement order. Subject...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: Sections 100 and 101 of the Finance Bill 2024 (as initiated) provide for the introduction of a revised form of relief from Capital Acquisitions Tax (CAT) for gifts and inheritances of agricultural property where certain conditions are met. I will bring an amendment at Committee stage of the Finance Bill to provide that these provisions will be subject to a commencement order. Subject...

Written Answers — Department of Finance: Tax Data (5 Nov 2024)

Jack Chambers: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within those listed in Annex III, in respect of which Member States may apply a lower rate. The Directive also allows for a Member State’s...

Written Answers — Department of Finance: Mortgage Interest Rates (5 Nov 2024)

Jack Chambers: As the Deputy will be aware, Home Building Finance Ireland ('HBFI') was established to increase the supply of new homes for owner-occupiers, renters and social housing by providing funding on commercial terms to house builders for commercially viable developments throughout Ireland. HBFI lending is therefore on commercial terms, in line with other residential finance providers in the...

Written Answers — Department of Finance: Banking Sector (5 Nov 2024)

Jack Chambers: The Department of Finance estimates that in order to build 50,000 homes per year, an average of €20 billion of development finance will be required. While the State can contribute approximately €3 billion of this on our direct construction projects, the remaining €17 billion required for development must be secured by our homebuilders from private sources –...

Written Answers — Department of Finance: Departmental Budgets (5 Nov 2024)

Jack Chambers: I welcome the engagement from Foetal Alcohol Syndrome Disorder (FASD) Ireland in the context of Budget 2025. As is the case with all budgetary decisions, all strands of relevant information, including submissions from stakeholder and representative bodies are taken into account when considering budgetary options. The annual budget process includes presentation policy options to the Tax...

Written Answers — Department of Finance: Revenue Commissioners (5 Nov 2024)

Jack Chambers: I am informed by Revenue that it has no planned downtime for the Revenue Online Service (ROS) system during the Pay & File period. However, unplanned downtime, by its nature, is unexpected and therefore cannot be anticipated or forewarned. There was an issue with ROS from approximately 1:30pm to 2:30pm on 15 October. The issue was due to human error that occurred during normal...

Written Answers — Department of Finance: Fiscal Data (5 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 247 and 250 together. The Summer Economic Statement 2024 set out assumed (net) tax packages for the period 2025-2030. The tax package for Budget 2025 was set at €1.4 billion, with packages of €1.2 billion per year assumed thereafter. This is reflected in the fiscal projections published as part of Budget 2025. The details of the €1.4...

Written Answers — Department of Finance: Insurance Industry (5 Nov 2024)

Jack Chambers: This Government remains strongly committed to achieving a competitive and sustainable insurance market where insurance is affordable and available to all. The implementation of the Action Plan for Insurance Reform is progressing well, with vast bulk of actions now complete, and all ten principal actions finalised. Insurance reform is a priority for the Government, overseen by the Cabinet...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as...