Results 1,221-1,240 of 9,090 for speaker:Jack Chambers

Written Answers — Department of Finance: Business Supports (4 Jul 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 (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 247 and 254 together. The high inflation rate environment over recent years has been extremely challenging for households who had to endure an erosion of their purchasing power as a result. However enormous progress has been made over the last year or so in reducing inflation with headline HICP inflation of just 1.5 per cent in June. This is the lowest rate...

Written Answers — Department of Finance: Foreign Direct Investment (4 Jul 2024)

Jack Chambers: Ireland is widely recognised as a stable and pro-enterprise economy. This reputation is reflected in our continued ability to attract foreign direct investment (FDI) into Ireland. Indeed the most recent data show that the stock of FDI in Ireland stood at €1.2 trillion at the end of the first quarter of this year. FDI makes an important contribution to the Irish economy. According...

Written Answers — Department of Finance: Consumer Prices (4 Jul 2024)

Jack Chambers: Households have faced numerous headwinds in recent years including rising levels of inflation and the associated increase in interest rates. Inflation rose sharply since the pandemic and spiked as a result of the energy price shocks that followed the war in Ukraine. These developments put significant pressure on consumer spending as purchasing power was eroded by higher prices. The associated...

Written Answers — Department of Finance: Insurance Industry (4 Jul 2024)

Jack Chambers: The Government remains committed to addressing the issue of high public liability insurance costs through the efforts of the Office for the Promotion of Competition in the Insurance Market, a key element of the Action Plan for Insurance Reform. Established as a Programme for Government commitment and overseen by the Minister of State at the Department of Finance, the Office aims to expand the...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: As the Deputy is aware, Ireland joined with almost 140 other countries in reaching agreement in October 2021 on how to address the tax challenges arising from digitalisation of the economy. The agreement contains two pillars. Pillar One will see the allocation of taxing rights away from countries such as Ireland to countries where consumers and markets are based. It will be...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: My Department publishes the Annual Taxation Report on an annual basis in order to provide a strategic perspective of the Irish tax system. This allows for the monitoring and identification of developing trends in tax revenue to minimise fiscal vulnerabilities. The latest such report, which was published in August last year, examined the high level of concentration within the corporation tax...

Written Answers — Department of Finance: Fiscal Policy (4 Jul 2024)

Jack Chambers: 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 the first time in a number of years in early April. My...

Written Answers — Department of Finance: Economic Growth (4 Jul 2024)

Jack Chambers: The domestic economy displayed solid growth in the first quarter of this year. Modified domestic demand (MDD) – my preferred measure of domestic activity – increased by 1.4 per cent in the first quarter. Irish exports appear to have turned a corner, growing by 7 per cent in the first quarter of 2024. This represents the first quarter of positive export growth in five quarters. ...

Written Answers — Department of Finance: Tax Data (3 Jul 2024)

Jack Chambers: I am advised by Revenue that as of 28 June 2024, the number of approved Help to Buy (HTB) claims, the number of applicants associated with these claims and the number of approved HTB claims in respect of the purchase of new houses or apartments, that were approved on or after 1 July 2020, broken down by county, are as set out in the table below: Property County All...

Written Answers — Department of Finance: Customs and Excise (3 Jul 2024)

Jack Chambers: In light of public health interests, continuing delays to the revision of the Tobacco Products Tax EU Directive and the Programme for Government commitment to tax e-cigarettes and vapes, it was announced last year that a domestic tax on e-cigarettes and vaping products will be introduced as part of this year’s Budget. My officials are preparing legislation for the introduction of a...

Written Answers — Department of Finance: Tax Data (3 Jul 2024)

Jack Chambers: I am advised by Revenue that traders are not required to separately identify the VAT yield from specific activities, therefore it is not possible to estimate the cost of a VAT reduction for the food-led hospitality sector using tax information alone. To calculate an estimate, Revenue uses both taxpayer returns and third party macro-economic data provided to Revenue by the Central...

Written Answers — Department of Finance: Tax Code (3 Jul 2024)

Jack Chambers: As the Deputy is aware, the age exemption applies for any year of assessment where an individual is aged 65 years or over and his or her total income does not exceed €18,000 per annum. Where an individual is a married person or civil partner and is jointly assessed to tax, the age exemption will apply where either individual is aged 65 or over and where the couple’s total income...

Written Answers — Department of Finance: Tax Reliefs (3 Jul 2024)

Jack Chambers: Ireland’s long-standing section 481 film tax credit provides relief in the form of a corporation tax credit related to the cost of production of certain audio-visual productions, including costs incurred on visual effects (VFX). The scheme is intended to act as a stimulus to the creation of an indigenous film industry in the State, creating quality employment opportunities and...

Written Answers — Department of Finance: Financial Services (3 Jul 2024)

Jack Chambers: I should say that as competent authority, the European Central Bank (ECB) is required to carry out annual stress tests on Significant Supervised Institutions (SSI), which includes Bank of Ireland and AIB, in the context of its Supervisory Review and Evaluation Process (SREP) as set out in Article 100 of the Capital Requirements Directive IV (CRD IV). Supervisory Review and Evaluation...

Written Answers — Department of Finance: State Bodies (3 Jul 2024)

Jack Chambers: In June 2023, the terms of reference for a National Payments Strategy (NPS) were published, and work on the NPS has commenced. The work of the NPS will take account of the changing payment landscape and ongoing legislative developments at EU level, including proposals on instant payments, payment services, legal tender and the digital euro. Access to cash and acceptance of cash is also being...

Written Answers — Department of Finance: Customs and Excise (3 Jul 2024)

Jack Chambers: Under EU law, manufacturers or importers of cigarettes are free to determine the maximum retail selling price for each of their products. It is not possible, therefore, for a Member State to direct companies as to the price at which cigarettes are to be sold. EU law imposes certain obligations on Members States on the way in which the rates and structure of tobacco products tax operate....

Written Answers — Department of Finance: Credit Unions (3 Jul 2024)

Jack Chambers: Nomination is a unique provision available only for credit union members. By way of background, nomination is a legally binding agreement under which a credit union member can nominate a third party to be the recipient of the member’s money after their death, up to a limit of €27,000. The effects of nomination are that any amounts up to €27,000 will pass outside the terms...

Written Answers — Department of Finance: Financial Services (3 Jul 2024)

Jack Chambers: The Central Bank of Ireland is responsible for regulating and supervising the providers of mortgage and other credit by regulated financial services providers to consumers. The Central Bank sets out macro-prudential and consumer protection requirements which have the objective of protecting overall financial stability and the interests of consumers. In line with this mandate, the...

Written Answers — Department of Transport, Tourism and Sport: Rail Network (2 Jul 2024)

Jack Chambers: As Minister for Transport, I have responsibility for policy and overall funding in relation to public transport. The National Transport Authority (NTA) has responsibility for the planning and development of public transport infrastructure, including the upgrade of and passing loop at Oranmore train station. Noting the NTA's responsibility in the matter, I have referred the Deputy's...