Results 1,241-1,260 of 9,158 for speaker:Jack Chambers

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

Jack Chambers: I propose to take Questions Nos. 101 and 116 together. The Deputies should be aware that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme (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...

Written Answers — Department of Finance: Banking Sector (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 102, 114 and 119 together. The Department of Finance's Retail Banking Review, published in November 2022, concluded that cash, despite a decline in its usage, remains an important element of the payments system and the broader economy and it is essential that cash remains readily available to customers through ATMs and other means across the country. The...

Written Answers — Department of Finance: Official Engagements (4 Jul 2024)

Jack Chambers: The Deputy will appreciate that I am answering this question on behalf of the former Minister for Finance, Michael McGrath. On Thursday 20th June, Minister McGrath travelled to Luxembourg to represent Ireland at the June ECOFIN and Eurogroup meetings. The meetings started with the Annual Meeting of the Board of Governors of the European Stability Mechanism (ESM) - Minister McGrath...

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

Jack Chambers: The Government is conscious of the implications of fuel costs for all sectors of society. This is reflected in the fact that in 2022, in light of the acute impact rising prices were having on households and businesses, the Government provided for temporary cuts in excise rates which, inclusive of VAT amounted to 21 cents, 16 cents and 5.4 cents per litre on petrol, auto-diesel and marked gas...

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

Jack Chambers: I propose to take Questions Nos. 109 and 121 together. The Deputy should note at the outset that the VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and each farmer’s decision on this matter affects...

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

Jack Chambers: The Local Property Tax (LPT) was introduced in 2013 to provide a stable and sustainable funding base for local authorities and is a significant base-broadening measure. LPT has yielded over €5 billion since its introduction, with a yield of over €550 million for 2023. LPT broadens the tax base and reduces the level of central funding required by local government, freeing up...

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

Jack Chambers: As the Deputy will be aware, the 9 per cent VAT rate was applied on a temporary basis to the hospitality and tourism sectors until 31 August 2023 when it reverted to the 13.5 per cent rate. The 9 per cent rate was introduced on 1 November 2020 in recognition of the fact that the tourism and hospitality sectors were among those most impacted by the public health restrictions put in place...

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

Jack Chambers: The Tax Debt Warehousing scheme was introduced in May 2020 to provide a vital liquidity support to businesses impacted by Covid-19 trading restrictions. The scheme allowed businesses to temporarily ‘park’ eligible taxes on an interest-free basis, the vast majority of which related to VAT and payroll taxes deducted by employers from their employees. Warehouse customers had until...

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

Jack Chambers: I am pleased to report that Irish households are, on aggregate, in a strong financial position. Irish household deposits increased substantially during the Covid-19 pandemic, as public health restrictions limited expenditure whilst government supports helped maintain the link between employers and employees and protected household incomes. At the height of pandemic, the saving rate, the share...

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

Jack Chambers: This Government has balanced careful management of the public finances with addressing the important issues facing our country. We will continue to take this prudent but supportive approach in the forthcoming budget. As the deputy notes, inflation has been a particularly significant challenge for families in recent years. Inflation reached multi-decade highs in 2022, peaking at 9.6 per...

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

Jack Chambers: SMEs are the foundation of the Irish economy, accounting for the majority of employment in the State. Their vital importance to our economy is reflected in our Programme for Government commitments. The tax system contains a number of incentives and reliefs designed to support SMEs. My predecessor, Minister McGrath, was proactive in both reviewing these measures and introducing targeted new...

Written Answers — Department of Finance: Departmental Data (4 Jul 2024)

Jack Chambers: The NTMA has informed me that the Greystones Media Campus is a privately funded project in which the Ireland Strategic Investment Fund (ISIF) is involved as a commercial investor. On foot of information provided to me by the NTMA, I can now provide you with some background and an update on developments related to the project. ISIF carefully evaluated for a number of years’ ways...

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

Jack Chambers: Firstly, it is important to clarify the position, which is that section 470 of the Taxes Consolidation Act 1997 (“TCA 1997”) provides for income tax relief in respect of payments made to authorised insurers under relevant contracts in respect of medical insurance and dental insurance. Qualifying medical insurance policies can be for health insurance, dental insurance or...

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

Jack Chambers: I understand that this Parliamentary Question relates to a situation where an individual is unable to avail of the Taxsaver scheme as their employer does not participate in the scheme and that the Deputy wishes to know whether the individual can avail of the scheme by another method. Section 118(5A) of the Taxes Consolidation Act 1997 (TCA) provides an exemption from benefit-in-kind (BIK)...

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

Jack Chambers: This Government remains strongly committed to achieving a competitive and sustainable insurance market. The Action Plan for Insurance Reform, a critical government initiative, is progressing well. Overseen by a Cabinet Committee Sub-Group on Insurance Reform, chaired by the Tánaiste, the plan has seen significant progress, with most actions either delivered or initiated. This coordinated...

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

Jack Chambers: The Department of Finance has opened its pre-budget costings service, this is available with effect from 1 July 2024. The procedures for availing of this service are set out in a letter dated 1 July 2024 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be made...

Written Answers — Department of Finance: Financial Instruments (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 203, 204 and 205 together. I assume the Deputy is referring to net Exchequer expenditure. Transfers to the SIF do not come out of the Central Fund and net Exchequer expenditure does not include transfers to the SIF. Transfers to the SIF come from PRSI receipts. As set out in the Ministers and Secretaries Act 2011, expenditure from the NTF forms part of...

Written Answers — Department of Finance: Departmental Data (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 206 and 207 together. The general government comprises the sub-sectors of central government, local government, and social security funds. Non-commercial semi-state bodies (NCSSBs) are classified within the central government subsector (S1311). The Central Statistics Office (CSO) is responsible for the compilation of the general government deficit and...

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

Jack Chambers: The Future Ireland Fund and Infrastructure Climate and Nature Fund Act 2024 was enacted on 18 June 2024. My officials are working with the Office of the Attorney General on the necessary commencement statutory instrument, which provide for the establishment of the two new funds. By the end of this year, on the basis of the transactions outlined below, over €10 billion will be...

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

Jack Chambers: The Help to Buy (HTB) Scheme was introduced in 2017 with the purpose of assisting first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. The relief is only available in respect of new builds, with a view to increasing the supply of new housing and stimulating demand. The incentive gives a refund of Income Tax and Deposit...