Results 301-320 of 1,057,541 for in 'Dáil debates' OR (speaker:Tom Kitt OR speaker:Rose Conway-Walsh OR speaker:Duncan Smith OR speaker:Leo Varadkar OR speaker:Hildegarde Naughton OR speaker:Jack Chambers OR speaker:Mattie McGrath OR speaker:Catherine Connolly) in 'Committee meetings'

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)

Rose Conway-Walsh: On the topic of trains, the all-island rail review and the western rail corridor, we have the opportunity to do what needs to be done there. You only have to look at the map to see the absolute lack of rail services from that area up to Sligo and Donegal, and the Minister, Deputy Chambers, will know this. There is an opportunity now and there is no excuse whatsoever not to do it. Cork...

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)

Rose Conway-Walsh: Is it much in excess of €6 billion?

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)

Rose Conway-Walsh: But the Minister knows what it is now.

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

Rose Conway-Walsh: It is okay but it will be in excess of that, so obviously there is an improved revenue forecast for 2025. We will see that on budget day.

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)

Rose Conway-Walsh: When does the Minister expect the Apple tax to come in and how does he expect it to come in?

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)

Rose Conway-Walsh: We could even have another Government providing that information. Imagine that.

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)

Rose Conway-Walsh: It will be up to the people. We had some good presentations before the Minister came in. One of them was from NERI. Its representatives said in their statement, which really struck me, that we have an economy of winners and losers. Net household wealth is at record levels on one hand while material deprivation is rising on the other. Will the Minister speak to that. Are they right?

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)

Rose Conway-Walsh: If we were to take out the one-off payments, they would not be progressive, would they? These are the measurements I have seen. It is adding in the windfall that-----

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

Rose Conway-Walsh: Is the Minister saying they would not be as necessary this year to the extent they were last year because of interest rates and inflation decreasing?

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

Rose Conway-Walsh: I will reiterate what the ESRI said regarding material deprivation and the inability of households to afford essentials increasing markedly between 2022 and 2023, especially for children. While we congratulate ourselves on budget decisions, the figures relating to child poverty and deprivation speak for themselves. Reference was made to inheritance tax. NERI has stated that inheritance...

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)

Rose Conway-Walsh: The Minister would favour that over addressing the worsening intergenerational inequity. While he is here, I want to ask him about an issue that came up earlier today with regard to the Central Bank. The Central Bank has renewed the agreement to facilitate the sale of Israeli sovereign bonds. ISIF said earlier this year that it would divest from six Israeli companies active in the occupied...

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...