Cathal Crowe (Clare, Fianna Fail)
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345. To ask the Minister for Finance the main policy achievements of his Department since 23 January 2025; and if he will make a statement on the matter. [38754/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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Since 23 January 2025, the Department of Finance has delivered a number of policy achievements which include:

Annual Progress Report 2025

The Annual Progress Report (APR) is a European legal requirement and replaces the annual Stability Programme Updates and the annual National Reform Programme in the European budgetary cycle; it is a key part of the reformed European fiscal architecture. The main purpose of the APR is for Member States to report on ex post expenditure growth outcomes versus planned expenditure in the previous year. The APR was published on 6 May.

National Economic Dialogue

The National Economic Dialogue (NED) 2025, hosted jointly by the Department of Finance and the Department of Public Expenditure, Infrastructure, Public Services, Reform and Digitalisation, was held on 16 June. The NED is an important part of the budgetary cycle, and provides a forum for stakeholders to engage in an open and inclusive exchange on the social and economic priorities facing the Government. The overarching theme of NED 2025 was medium-term budgetary planning against a rapidly changing global backdrop.

State’s Shareholding in the Banking Sector

During 2025, the State continued to make good progress in reducing its shareholding in AIB from c.18.8 per cent at the beginning of this year to 3.3 per cent post the completion of the directed buyback in May. A total of €2.48bn was recovered from the State’s investment in AIB during 2025 from the various disposals. The State’s remaining shareholding in AIB is worth c. €500m. This is an important milestone in delivering on the government’s policy of returning the banking sector to private ownership. The State retains a 57.4 per cent shareholding in Permanent TSB.

Insurance Reform Agenda

The Programme for Government, Securing Ireland’s Future, includes a commitment to develop a new Action Plan for Insurance Reform with a focus on encouraging further competition in the market and working with stakeholders to enhance transparency and affordability across all types of insurance. Work is underway to develop a new Action Plan, which will build on the progress of the 2020 Action. A public consultation phase of the Action Plan closed on 19 May.

Local Property Tax (LPT)

The Finance (Local Property Tax and Other Provisions (Amendment) Act 2025 was signed by the President on 2 July 2025. This Act provides for a new method of calculating LPT liabilities in advance of the new valuation period set to commence in 2026, with reference to the self-assessed market values as of 1 November 2025.

Access to Cash Legislation

The Finance (Provision of Access to Cash Infrastructure) Act 2025 is the result of a recommendation in the Department’s 2022 Review of Retail Banking. After considerable research, consultation, and stakeholder engagement, the legislation was signed into law by the President on 20 May 2025, and commenced on 30 June 2025. The objectives of the Act are to ensure sufficient and effective access to cash in the State; to provide a framework to manage future changes to the cash infrastructure in a fair, equitable and transparent manner; and to bring cash-in-transit providers and independent ATM deployers within the regulatory perimeter of the Central Bank of Ireland.

Financial Literacy

In order to fulfil a recommendation from the Retail Banking Review and meet various international obligations, Ireland’s first National Financial Literacy Strategy was developed throughout 2024 and published earlier this year. The ultimate mission of the Strategy is to improve the level of financial literacy in Ireland through a vibrant financial literacy ecosystem – increasing cooperation, coordination and cohesion among stakeholders – and thereby supporting greater overall financial wellbeing and resilience.

Financial Services and Pensions Ombudsman (Amendment) Act 2025

The Financial Services and Pensions Ombudsman (Amendment) Act 2025 was commenced on 9 May 2025. The Act strengthens protections for financial consumers in Ireland by introducing amendments to the foundational 2017 legislation that underpins the Financial Services and Pensions Ombudsman, so that it can continue to carry out its statutory functions in line with the Constitution. The Act will significantly improve the consumer protection framework in Ireland.

Scéal Uplift

The Scéal Uplift provides an additional tax relief to production companies producing small to medium sized productions. Finance Act 2024 provided for an uplift of 8% to the Section 481 Film Tax Credit rate of 32%, for feature film productions (including animation) with a maximum qualifying expenditure of €20 million. The aim of the uplift is to encourage and support smaller-scale Irish cinema, providing a range of opportunities for film creatives based in Ireland as they build their careers and expand their artistic ambition. In order to avail of the uplift, among other conditions, an individual who is a national of, or ordinarily resident in, Ireland or another EEA state is required to be engaged in a key creative role on the production (such as a screenwriter, director or any other creative role of an appropriate seniority). The European Commission was notified of the Scéal Uplift in January 2025 and approved same in March 2025. The required Commencement Order and the underpinning Regulations for the Scéal Uplift were signed in May 2025.