Results 1,201-1,220 of 9,537 for speaker:Jack Chambers

Written Answers — Department of Finance: Budget 2025 (19 Sep 2024)

Jack Chambers: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my Department on receipt. I can confirm the pre-Budget submission to which the Deputy refers was received and an acknowledgment issued on Friday, 28 June 2024. The contents will be considered in the context of the forthcoming...

CJEU Judgment in Apple State Aid Case: Statements (18 Sep 2024)

Jack Chambers: As Deputies will be aware, in order to comply with the 2016 decision of the Commission, while the litigation process was ongoing, in 2018, the state aid identified by the Commission was placed by Apple into an escrow fund, with the proceeds to be released only when there had been a final determination in the European courts. A detailed confidential legal document, the escrow deed, was agreed...

CJEU Judgment in Apple State Aid Case: Statements (18 Sep 2024)

Jack Chambers: Last week, the Court of Justice of the European Union delivered its judgment, the final milestone in what has been a long-running legal process, beginning in 2013 when the Commission began their investigation into a number of tax arrangements across the EU. I want to take this opportunity to outline the history of the case and reiterate the importance of taking this case, notwithstanding...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I thank the members for the invitation to appear before the committee to discuss budget 2025, which both I and the Minister, Deputy Donohoe, will present to the Oireachtas in a little under two weeks’ time. To begin, I will briefly set out the economic and fiscal background for this year’s budget. At an aggregate level, the Irish economy is in reasonably good shape. With...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: We will set out the mechanics of how we propose to spend or utilise the €3 billion which we have on account now from the AIB share sales. We will set out the mechanics of that on budget day. We have discussed this in the context of infrastructure in the economy and I have set out the three priority areas which are housing, energy-----

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: It is in there already. The money from the share sales is in ISIF. In terms of the additional future shares, that is a matter for future decisions in the context of the share position of the Irish State in AIB. That is a matter for future sales that may or may not occur. We have set out previously that we have had an ongoing sale of shares from AIB and at the appropriate time in the...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: Yes, correct.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: We will set out the mechanics of that on budget day and how we propose to use it to address those three key priority areas.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I will set that out on budget day.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: This is proceeds that we have received from share sales and we feel it is important to utilise that to address a pressing issue in our country, which is obviously the delivery of more homes.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: We will set out our tax package on budget day. We have been clear that reducing the income tax burden is a priority for the Government. All of the budgetary decisions we have taken have been highly progressive to date. Many people in our economy have been taken out of the income tax net, as the Deputy knows. We want to make sure that the effect of our decisions is progressive in the...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I will be able to set out on budget day the tax decisions that we take, the impact of those on workers in our economy and the cost-of-living-----

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: If one takes the combined income tax and cost-of-living package that we introduced last year and what I intend to progress this year, it will be highly progressive. We want to make sure average workers benefit-----

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: We brought in a highly progressive tax package last year which benefitted workers, particularly when one combines the income tax changes with the cost-of-living payments.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: When one takes the combined total of income tax deductions and cost-of-living payments last year, average workers benefitted by in or around that.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I can send the committee detailed figures on the numbers who have paid and what it has taken to date. I am happy to provide that information. What we have done here is taken the recommendation of €2.8 million and we are phasing that in from 2026 onwards, with an increase of €200,000, which addresses wage growth in that interim period. It also addresses a specific concern that...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: For 2025 it will not cost anything.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I will provide the committee with that information.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I know what the policy costs if we were to bring it to €2.8 million immediately.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I am happy to provide the committee with that information. By phasing this in over a number of years, it is a reduced cost vis-à-vis what the de Buitléir report recommended. I am happy to provide that information to the committee.