Results 81-100 of 8,745 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Data (5 Nov 2024)

Jack Chambers: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within those listed in Annex III, in respect of which Member States may apply a lower rate. The Directive also allows for a Member State’s...

Written Answers — Department of Finance: Mortgage Interest Rates (5 Nov 2024)

Jack Chambers: As the Deputy will be aware, Home Building Finance Ireland ('HBFI') was established to increase the supply of new homes for owner-occupiers, renters and social housing by providing funding on commercial terms to house builders for commercially viable developments throughout Ireland. HBFI lending is therefore on commercial terms, in line with other residential finance providers in the...

Written Answers — Department of Finance: Banking Sector (5 Nov 2024)

Jack Chambers: The Department of Finance estimates that in order to build 50,000 homes per year, an average of €20 billion of development finance will be required. While the State can contribute approximately €3 billion of this on our direct construction projects, the remaining €17 billion required for development must be secured by our homebuilders from private sources –...

Written Answers — Department of Finance: Departmental Budgets (5 Nov 2024)

Jack Chambers: I welcome the engagement from Foetal Alcohol Syndrome Disorder (FASD) Ireland in the context of Budget 2025. As is the case with all budgetary decisions, all strands of relevant information, including submissions from stakeholder and representative bodies are taken into account when considering budgetary options. The annual budget process includes presentation policy options to the Tax...

Written Answers — Department of Finance: Revenue Commissioners (5 Nov 2024)

Jack Chambers: I am informed by Revenue that it has no planned downtime for the Revenue Online Service (ROS) system during the Pay & File period. However, unplanned downtime, by its nature, is unexpected and therefore cannot be anticipated or forewarned. There was an issue with ROS from approximately 1:30pm to 2:30pm on 15 October. The issue was due to human error that occurred during normal...

Written Answers — Department of Finance: Fiscal Data (5 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 247 and 250 together. The Summer Economic Statement 2024 set out assumed (net) tax packages for the period 2025-2030. The tax package for Budget 2025 was set at €1.4 billion, with packages of €1.2 billion per year assumed thereafter. This is reflected in the fiscal projections published as part of Budget 2025. The details of the €1.4...

Written Answers — Department of Finance: Insurance Industry (5 Nov 2024)

Jack Chambers: This Government remains strongly committed to achieving a competitive and sustainable insurance market where insurance is affordable and available to all. The implementation of the Action Plan for Insurance Reform is progressing well, with vast bulk of actions now complete, and all ten principal actions finalised. Insurance reform is a priority for the Government, overseen by the Cabinet...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as...

Written Answers — Department of Finance: Climate Change Policy (5 Nov 2024)

Jack Chambers: As the Deputy will know, the Government of Ireland has committed publicly to increase the climate finance provided to developing countries, aiming to reach €225 million annually by 2025. A Cross-Departmental Climate Finance Roadmap was published in 2022 setting out pathways as to how this goal could be achieved. Since 2020, Ireland has more than doubled climate finance expenditure with...

Written Answers — Department of Finance: Tax Code (5 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 252 and 267 together. I note the issues raised by the Deputies, relating to tax treatment of Exchange Traded Funds, or "ETFs", and the security of investments in trading funds. The Deputies may wish to note that on 22 October 2024, I published the Report of the Funds Sector 2030. The Review made a number of recommendations regarding ETFs. The Report of...

Written Answers — Department of Finance: Departmental Staff (5 Nov 2024)

Jack Chambers: I wish to inform that Deputy that the number of staff vacancies in my Department at the end of August 2023 and August 2024 are set out in the tables below by grade: Grade Vacancies end August 2023 Vacancies end August 2024 A/Sec 0 0 PO 0 4 AP 7 7 AO ...

Written Answers — Department of Finance: Insurance Coverage (5 Nov 2024)

Jack Chambers: In my role as Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation. However, neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products or have the power to direct insurance companies to provide flood cover to specific individuals or businesses. This position is reinforced by the...

Written Answers — Department of Finance: Tax Yield (5 Nov 2024)

Jack Chambers: I am advised by Revenue that the additional yield from increasing Stamp Duty on residential property with a value over €1 million to 6%, including all multi-unit purchases of houses and apartments, is estimated to be of the order of €60 million. This estimate is based on the latest available Stamp Duty returns for statistical analysis, where the consideration value is above...

Written Answers — Department of Finance: Tax Credits (5 Nov 2024)

Jack Chambers: Tax policy measure costings at the time of their introduction is set out in the Tax Policy Changes booklet published as part of the Budget Day documentation. The rent tax credit was originally introduced as part of Budget 2023. The estimated cost is set out in the Tax Policy Changes booklet, available at: www.gov.ie/en/publication/ccc22-budget-2023-taxation-measure s/ The measure was...

Written Answers — Department of Finance: Tax Data (5 Nov 2024)

Jack Chambers: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. I am informed by Revenue that they are unable provide a costing for changes to the SFT. Information on the numbers and values of individual pension funds or on...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: The following table sets out the numbers of approved Help to Buy claims for properties in Dublin in each of the years 2020 to 2024 to date, based on the date the claim was approved, as of 31 October 2024. Year Approved Claims 2020 1,159 2021 1,125 2022 1,080 2023 740 ...

Written Answers — Department of Finance: Tax Code (5 Nov 2024)

Jack Chambers: The Deputy may be aware that prior to 1 January 2023, where the combined contributions by an employer and an employee to the employee’s Personal Retirement Savings Account (PRSA) did not exceed the employee’s annual percentage limit (between 15% and 40% of “net relevant earnings”, varying depending on age, up to a maximum relieved salary of €115,000) the...

Written Answers — Department of Finance: Insurance Coverage (5 Nov 2024)

Jack Chambers: Securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland is a key policy objective for this Government. It is recognised that a small number of sectors, including motorcycle sports, are currently facing difficulty in terms of affordability and availability of insurance. Government has therefore prioritised the implementation of the...

Written Answers — Department of Finance: Business Regulation (5 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 261 to 263, inclusive, together. Sheriffs are Officers of the Court, holding office under Section 12 of the Court Officers Act, 1945. They are appointed by Government following public competitions held by the Public Appointments Service (PAS). Their debt collection activities, including seizure procedures, are covered by the Enforcement of Court Orders...

Written Answers — Department of Finance: Tax Clearance Certificates (5 Nov 2024)

Jack Chambers: I would note at the outset that my Department officials made several attempts to contact the Deputy's office to obtain clarification on the circumstances which prompted this question, but unfortunately did not receive a response. As such, the following outlines tax clearance procedures more generally, but should the Deputy wish to seek information on a specific matter concerning the current...