Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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265. To ask the Minister for Finance the criteria used by his Department to classify a credit-facility, loan-commitment or standby line as a contingent liability for inclusion in the Government's contingent-liabilities register; to state whether these criteria have been updated in the past five years; and to confirm whether any credit-line exposures are known to the Department but remain unpublished. [64767/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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289. To ask the Minister for Finance whether the Department has examined the treatment of hidden credit-line exposures within the European System of Accounts framework; to indicate whether any Irish exposures have been escalated to Eurostat; and to set out whether revisions to national-accounts classifications are anticipated. [64795/25]

Simon Harris (Wicklow, Fine Gael)
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I propose to take Questions Nos. 265 and 289 together.

A report on ‘Interest-Rate Swaps & Fixed-Rate Loans: Hidden Credit Lines’ was recently published by an organisation called Bank Confidential. This report raises a range of allegations primarily related to the sale of interest-rate swaps to small and medium enterprises in the United Kingdom.

Contingent assets and contingent liabilities are defined under the European System of Accounts (ESA 2010) as agreements whereby one party is obliged to provide a payment or series of payments to another unit only where certain specific conditions prevail.

Reviews of government accounts classifications are undertaken by the CSO, and validated by Eurostat. Details of classification decisions are published on the CSO’s website at the following address.

www.cso.ie/en/methods/governmentaccounts/classificationdecisions/

My Department also publishes information on contingent liabilities in accordance with EU Directive 2011/85. The latest report was published on the Department of Finance’s website on 30 October. A paper by my Department at the below address sets out how the data is categorised, including into government guarantees, non-performing loans, and liabilities stemming from the operation of public corporations.

assets.gov.ie/static/documents/contingent-liabilities-an-overview-april-2021.pdf.

All contingent assets and liabilities known to the Department and meeting the definition outlined in the European System of Accounts are included in the periodic publication, with the exception of entities whose liabilities do not exceed 0.01% of GDP.

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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279. To ask the Minister for Finance whether the Department has conducted any analysis of the potential fiscal impact on the State should hidden credit-line exposures materialise during a market-stress event; and to outline the scenarios modelled, the estimated scale of risk, and whether these findings have been shared with the Oireachtas Committee on Finance. [64781/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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286. To ask the Minister for Finance the projected impact on the General Government Balance and General Government Debt should hidden credit-line exposures materialise; and to confirm whether contingency planning for such an event has been completed by his Department. [64792/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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290. To ask the Minister for Finance whether his Department has modelled the potential impact of hidden credit-line exposures on the State's borrowing costs, including sovereign-bond spreads; and to outline what assumptions underpin those models. [64796/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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292. To ask the Minister for Finance whether his Department has reviewed the adequacy of the State's fiscal buffers, including the National Reserve Fund, in light of the contingent exposures raised in the report; and to state whether additional provisioning will be considered. [64798/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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318. To ask the Minister for Finance to indicate whether his Department has assessed the impact of hidden credit line exposures on Irelands compliance with EU fiscal rules; and whether any technical adjustments have been requested. [64824/25]

Simon Harris (Wicklow, Fine Gael)
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I propose to take Questions Nos. 279, 286, 290, 292 and 318 together.

A report on ‘Interest-Rate Swaps & Fixed-Rate Loans: Hidden Credit Lines’ was recently published by an organisation called Bank Confidential. This report raises a range of allegations primarily related to the sale of interest-rate swaps to small and medium enterprises in the United Kingdom.

In line with best international practice, my Department regularly publishes debt sustainability analyses – scenarios outlining how the debt-income ratio would evolve in the event of scenarios such as economic shocks, inflationary pressures, a deterioration in the primary balance, or interest rate developments. See, for example, Section 5 of the Annual Report on Public Debt in Ireland 2023, at the below address.

assets.gov.ie/static/documents/annual-report-on-public-debt-in-ireland-2023.pdf.

The best way to ensure the sustainability of our public finances is by running headline budgetary surpluses and ensuring that our tax base remains stable, as well as investing ‘windfall’ tax receipts into the Future Ireland Fund and Infrastructure, Climate and Nature Fund to prepare for future structural costs. These funds were formed upon the dissolution of the National Reserve Fund in 2024. Government has committed to transferring 0.8 per cent of GDP to the Future Ireland Fund per year, in addition to investing €2 billion each year (to 2030) in the Infrastructure, Climate and Nature Fund. The total combined value of the funds will be approximately €16.7 billion by the end of 2025.

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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364. To ask the Minister for Finance to provide county-by-county estimates, based on Revenue's 2026 valuation modelling, of the number and proportion of residential properties expected to move up one or more Local Property Tax valuation bands for the 2026-2030 valuation period. [64957/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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366. To ask the Minister for Finance the estimated additional annual LPT liability per band for households in each valuation category under the 2026-2030 LPT structure, using the modelling referred to in Revenue's September 2025 technical paper. [64959/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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369. To ask the Minister for Finance the estimated number of households in each county whose LPT valuation band will remain unchanged for 2026-2030 but who will still face an increased LPT liability due to changes in band charges. [64962/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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374. To ask the Minister for Finance the number of properties that Revenue estimated would cross two or more LPT valuation bands between 2021 and 2026; and the methodology used to calculate multi-band movements. [64967/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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382. To ask the Minister for Finance the estimated additional LPT yield for each local authority if the 2026 band structure results in upward band movement above the Revenue Commissioner's assumed four percent. [64975/25]

Simon Harris (Wicklow, Fine Gael)
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I propose to take Questions Nos. 364, 366, 369, 374 and 382 together.

In respect of Dail Question No. 364 (Ref: 64957/25), as the Deputy will be aware, the LPT technical paper published in September sets out the methodology used to estimate the 2026-2030 valuation for properties on the LPT register. Table 6 of the LPT Technical paper provides the estimated average increase in LPT liability by local authority and valuation band. Table 7 of the paper provides the band movement under the 2026-2030 structure. The technical paper may be accessed at the following link: www.revenue.ie/en/corporate/documents/research/property-valuation-technical-paper-2026.pdf

In respect of Dail Question No. 366 (Ref: 64959/25), regarding the estimated additional annual LPT liability per band for households in each valuation category, this can be examined on a case-by-case basis by comparing the valuation bands and associated LPT charges for the valuation period 2022-2025 with their counterparts for 2026-2030.

A press release was published in April following Government's approval of changes to the LPT legislation. This release includes a table comparing the valuation bands and charges for the two valuation periods. The press release also provides a number of examples on how revaluation is expected to impact properties at different bands, including a property nominally located in Cork. The press release can be accessed at the following link: www.gov.ie/en/department-of-finance/press-releases/minister-donohoe-announces-changes-to-local-property-tax-to-ensure-fairness/

In respect of Dail Question No. 369 (Ref: 64962/25), as advised in other responses to the Deputy, all LPT charges are increasing with effect from 2026. Therefore, all households will experience an increase in their base LPT liabilities, notwithstanding any variation in rate decided by local authorities. For the majority of properties, specifically those valued at or below €525,000, and those that remain in their current valuation band, the additional base liability will be between €5-25 higher annually.

In respect of Dail Question No. 374 (Ref: 64967/25), I am advised by Revenue that it is estimated approximately 6,500 properties would move up two or more LPT valuation bands under the 2026-2030 LPT structure compared to the 2022-2025 LPT structure. This figure represents less than 0.5% of all LPT liable properties.

Finally, in respect of Dail Question No. 382 (Ref: 64975/25), I am further advised by Revenue that it is not possible to estimate the additional LPT yield should the upward band movement exceed the 4% estimate. The 4% upward band movement estimate was reached by modelling the available data under the 2026-2030 LPT structure. Actual band movement under the 2026-2030 LPT structure will be determined by the self-assessed returns of homeowners.

While detailed analysis of the returns filed this November will take some time, Revenue publishes preliminary statistics on LPT on a regular basis on its website. These statistics are available on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statistics/property-taxes/yearly-stats/2025/index.aspx.

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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365. To ask the Minister for Finance the estimated number of residential properties in Cork City and Cork County that are expected to move into a higher LPT valuation band from 1 November 2025, by band. [64958/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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368. To ask the Minister for Finance the number of households nationally that have notified Revenue of disputes or queries relating to LPT band placement since 1 October 2025, and the number of these arising from Cork. [64961/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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375. To ask the Minister for Finance the estimated financial impact on households in Cork City and Cork County whose valuations sit at the upper end of their current band and who are most likely to cross into a higher band for 2026-2030. [64968/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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377. To ask the Minister for Finance the number of properties nationally and in Cork that have submitted corrected, amended or disputed valuations during the October-November 2025 LPT return window. [64970/25]

Simon Harris (Wicklow, Fine Gael)
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I propose to take Questions Nos. 365, 368, 375 and 377 together.

I am advised by Revenue that LPT returns for the next valuation period (2026 to 2030) have been filed and are fully up to date in respect of 1.42 million properties. Filing arrangements are being finalised in respect of a further 202,869 Local Authority and Approved Housing Body properties.

There are a large number open correspondence queries on hand with Revenue presently, including postal queries and paper returns. While these queries delay filing, the liable persons are considered compliant. Furthermore, payment arrangements are in place for approximately 286,000 additional properties where returns are not yet filed.

While the return filing deadline passed on 12 November, it is evident that property owners are still making their best effort to file their returns as these continue to be received by Revenue.

It is not yet possible to determine what percentage of returns filed are attributed to Cork. While detailed analysis of the returns filed will take some time, Revenue publishes preliminary statistics on LPT on a regular basis on its website. These statistics are available on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statistics/property-taxes/yearly-stats/2025/index.aspx

Following an analysis of the LPT returns filed this month, data will subsequently become available on properties’ LPT liability and band movement. Like other taxes LPT is subject to risk assessment and to compliance programmes under Revenue’s Compliance Intervention Framework, which will include the valuation period 2026- 2030.

In respect of the Deputy's question regarding the estimated financial impact on properties which are likely to move up a band, this can be examined on a case-by-case basis by comparing the valuation bands and associated LPT charges for the valuation period 2022-2025 with their counterparts for 2026-2030.

A press release was published in April following Government's approval of changes to the LPT legislation. This release includes a table comparing the valuation bands and charges for the two valuation periods. The press release also provides a number of examples on how revaluation is expected to impact properties at different bands, including a property nominally located in Cork. The press release can be accessed at the following link: www.gov.ie/en/department-of-finance/press-releases/minister-donohoe-announces-changes-to-local-property-tax-to-ensure-fairness/.