Results 281-300 of 1,043,109 for in 'Dáil debates' OR (speaker:David Norris OR speaker:Jennifer Murnane O'Connor OR speaker:Barry Cowen OR speaker:Mattie McGrath OR speaker:Jack Chambers OR speaker:James O'Connor OR speaker:Ruairi Ó Murchú) in 'Committee meetings'

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: If one takes the combined income tax and cost-of-living package that we introduced last year and what I intend to progress this year, it will be highly progressive. We want to make sure average workers benefit-----

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: We brought in a highly progressive tax package last year which benefitted workers, particularly when one combines the income tax changes with the cost-of-living payments.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: When one takes the combined total of income tax deductions and cost-of-living payments last year, average workers benefitted by in or around that.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I can send the committee detailed figures on the numbers who have paid and what it has taken to date. I am happy to provide that information. What we have done here is taken the recommendation of €2.8 million and we are phasing that in from 2026 onwards, with an increase of €200,000, which addresses wage growth in that interim period. It also addresses a specific concern that...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: For 2025 it will not cost anything.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I will provide the committee with that information.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I know what the policy costs if we were to bring it to €2.8 million immediately.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I am happy to provide the committee with that information. By phasing this in over a number of years, it is a reduced cost vis-à-vis what the de Buitléir report recommended. I am happy to provide that information to the committee.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: The Deputy will recall that the standard fund threshold was in excess of €5 million in previous years-----

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: What we are doing here is having a phased change to this over five years, which addresses specific retention issues and supports promotion to particular positions. First, it is not near what it was. Second, the Government is not changing the chargeable excess tax which was recommended. Third, we are trying to respond to the retention issues which have been well flagged. I am sure the...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I thank Deputy Moynihan very much. On his first question about the Future Ireland Fund and the Infrastructure, Climate and Nature Fund, there will be €10 billion between the two funds by the year end, with €6 billion there at present and €4 billion which will be allocated in quarter 4. Next year, the plan is to have a further €6 billion split, with €4...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I thank Deputy Healy-Rae. I will respond to some of the remarks on VAT in particular. I know the importance of hospitality and tourism, in particular for County Kerry and for many businesses across the country. We absolutely understand the pressure on businesses and small and medium enterprises in the hospitality sector in particular. We have a package of €1.4 billion available and...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: To the Deputy's earlier point, I am always ambitious for Mayo, as I know she is, in terms of infrastructure. None of us forget our roots, I can assure her. On a serious point, what we have published in August is in line with profile except for corporation tax receipts, which are obviously significantly above profile. We will set that out with the White Paper we will publish on the Friday...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I will set that out in the White Paper, as is appropriate. It is important to set it out formally, as would be done in any given year.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: The summer economic statement is as we have set out in terms of the wider parameters and in terms of tax and expenditure policy, and our wider budgetary strategy remains the same. The White Paper will set out the answer to the Deputy's question. I do not want to give her a false figure.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: There is a deed of determination which was worked out when the escrow fund was established. The work has commenced on that by the NTMA and the Revenue Commissioners. I have been told it will take a number of months. There has to be a final figure settled on what it will amount to, but it certainly will not be before budget day, obviously. As we get that information, I will provide it to...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: It is a good question too.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: If we take the measures we have made from a tax perspective, for example, and the progressive nature of our decisions on tax over the last four years, a single person earning €40,000, for example, had an effective tax rate of 21% in 2020 and has an effective tax rate of 17% now. There has been a progressive nature to all of the decisions we have taken from a tax policy perspective....

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: The current threshold has not moved for many years. Property prices have risen significantly. It is an issue for many families in communities throughout our country. Capital acquisitions tax is important. There is a separate campaign calling for its removal completely. It is important that it is there to have equity in our society. There is a necessity to examine the context we are in,...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: As Deputy Conway-Walsh is aware, Michael McGrath was advised by the NTMA that it had decided to divest from several ISIF global portfolio investments in companies that have certain activities in the occupied Palestinian territories. This decision relates to shareholdings with a value of €2.95 million in six companies. It determined that the risk profile of these investments is no...