Results 161-180 of 483 for speaker:Edward Timmins
- Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (15 Jul 2025)
Edward Timmins: I thank the Minister. In my county, Wicklow, €3 million of the €23 million tax raised will not be kept locally next year. This is an improvement on the €5 million in 2025 but it needs to be eliminated. I do not suggest it be taken from the other counties which receive more than what is collected but that it ultimately comes from Exchequer funding. Two aspects of the...
- Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (15 Jul 2025)
Edward Timmins: The legislation states the property tax must be reset to the base rate every year. This means if a council has a rate above the base rate, for example, 6%, as it is in Wicklow, it has to restate every year the rate is increasing whereas in actual fact the rate is not increasing. Could the legislation be changed to eliminate the requirement to return to the base rate each year and have the...
- Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (15 Jul 2025)
Edward Timmins: 96. To ask the Minister for Finance if he will review the operation of property tax. [39675/25]
- Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (15 Jul 2025)
Edward Timmins: I welcome some aspects of the revised calculation of property tax and the calculation of the amount retained by counties. I recognise that the expected average increase of 5% is way below the inflation rate of 16.7% over the past four years. However, more needs to be done to make it a more equitable tax. In particular, some counties do not retain all of the tax collected in their county.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: I thank the witnesses for coming in. I have six or seven specific questions, so if the witnesses could be as concise as they can in their answers, I would be very grateful. I thank them for their presentation. Have they done an analysis of the estimated impact of the 10% or 25% tariffs on all tax revenue in this country?
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: Is that published? Is that available?
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: The ESRI outlined figures on a reduction of modified domestic demand due to tariffs. Did the ESRI look at a reduction in housing demand due to the same scenario?
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: When the ESRI reported a few months that we need 60,000 homes per annum-----
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: Previously, the ESRI made projections that the economy needed 60,000 based on current scenarios, but it has not done a revised figure based on being hit by tariffs of 10% or 25%.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: That is okay; I was just wondering about that. As a related question, has the ESRI looked at the potential impact on the economy of tariffs imposed by the EU on inflation, employment and growth?
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: I am asking about EU tariffs.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: The ESRI has done studies based on the EU imposing 10% and 25%.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: That is published, is it?
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: On page four of the opening statement, I could not fully understand the statement, “While inflation has been slowing down ... permanent changes to the tax and welfare system have resulted in small average income losses...” I get that, although it is described as insignificant, basically, at 0.3% of disposable income , but I could not really get the phrase “compared to...
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: It is adjusted for inflation.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: They have not been keeping pace with wage growth or with inflation.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: They are fairly identical then.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: Social welfare lags.
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: We talk about growth and real wages. Is this gross wages net of inflation or take-home wages net of inflation? Let us say the wage growth was 10% in a year and inflation was 5% or 4%, so the net is 6%. Does the ESRI take the 10% net of income tax?
- Committee on Budgetary Oversight: Quarterly Economic Commentary: Economic and Social Research Institute (15 Jul 2025)
Edward Timmins: The wage growth is taken net of income tax.