Written Answers Nos. 398-417
399. Deputy Séamus McGrath asked the Tánaiste and Minister for Finance if he would consider introducing tax relief for PAYE individuals who engage the services of an accountant for the purposes of their tax return and incur fees. [9357/26]
View answerI am advised by Revenue that no deduction or relief is available against employment income except to the extent expressly permitted by the Tax Acts. The legislation governing the deductibility of expenses from employment income is contained in section 114 Taxes Consolidation Act 1997 (“TCA 1997”). To qualify for tax relief under this section, the expenses must be wholly, exclusively and necessarily incurred in the performance of the duties of the relevant employment.
The provisions of section 114 TCA 1997 are strictly applied, with a body of case law supporting the interpretation and application of this section. Under this section, the expense must be incurred in the actual performance of the duties of the office or employment or as a direct consequence of those duties and should not arise because of the personal circumstances or preference of the individual. Accountancy fees incurred solely for personal tax compliance, do not meet the test of wholly, exclusively and necessarily incurred in the performance of the duties of the employment. This means that such expenses are not deductible against employment income.
As the Deputy will appreciate, proposals for the amendment of tax reliefs must be assessed in accordance with my Department's Tax Expenditure Guidelines. These make clear the importance that any policy proposal which involves tax expenditures should only occur in limited circumstances. In particular, they provide that a tax-based incentive should only be considered where it would be more efficient than a direct expenditure intervention.
Furthermore, any decisions regarding taxation measures are made in the context of the annual Budget and Finance Bill processes, at the appropriate time, and having regard to the sound management of the public finances.
400. Deputy Séamus McGrath asked the Tánaiste and Minister for Finance to provide details in relation to levies applied to ESB worker pensions during the financial crash; whether these levies are still being applied; and if it is intended to end them at a future point. [9393/26]
View answerAs the Deputy will be aware, an annual levy was charged on pension schemes from 2011 to 2015 in accordance with section 125B Stamp Duties Consolidation Act 1999. The levy was introduced in the wake of the global financial crash, at a time when the economy was in very serious difficulty. The levy was charged on the market value of assets in pension schemes held on 30 June in each year at a rate of 0.6% (2011 to 2013), 0.75% (2014) and 0.15% (2015). It is important to note that this levy was discontinued from 2016 and is no longer in operation.
Liability for the levy rested with trustees of pension schemes and others responsible for the management of pension fund assets. Under the relevant legislation, payment of the levy was treated as a necessary expense of a pension scheme and it was a matter for the trustees or insurers to decide when and how the levy should be passed on to scheme members and to what extent, given the particular circumstances of the pension schemes for which they were responsible.
I have no detailed information on the decisions made by any pension fund trustees or others in relation to the passing on of the full or a partial impact of the levy to the current, deferred or former (retired) members of pension schemes. Therefore, I am not in a position, nor is it within my remit, to comment on the specifics relating to the application of the pension levy to ESB pensions.
I understand however that in cases where trustees have made a decision to pass on the impact of the levy, in full or in part, to pensioners, a smaller reduction in pension payments over the lifetime of the pension may have been made in many cases in preference to a larger reduction over a shorter period. This may be the case for this pension fund.
401. Deputy Malcolm Byrne asked the Tánaiste and Minister for Finance the number of staff directly responsible for cybersecurity, as distinct from IT, within his Department; if a threat analyst, vulnerability manager and a cyber infrastructure engineer are employed; if not in-house, if this work is outsourced; and if he will make a statement on the matter. [9430/26]
View answerI wish to advise the Deputy that the majority of ICT systems and related associated services for my department are provided by the Office of the Government Chief Information Officer (OGCIO), a division of the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation.
For operational and security reasons, we do not disclose specific information relating to cybersecurity tools, expenditure, resources, or the detailed strategies employed to counter cyber threats.
OGCIO continually enhance and strengthen ICT security to mitigate against emerging threats, risks, vulnerabilities and cybersecurity attacks.
My Department and OGCIO also work closely with the National Cyber Security Centre (NCSC), which monitors, detects and responds to cyber security incidents in the State, and builds resilience in IT systems with particular emphasis on critical infrastructure and Government.
My Department is committed to maintaining a robust and resilient cybersecurity posture. All staff are kept up to date on evolving cyber security threats and are required to complete annual cybersecurity awareness training.
402. Deputy Malcolm Byrne asked the Tánaiste and Minister for Finance the extent to which his Department examines third party supply chain vulnerability when it comes to cybersecurity. [9448/26]
View answerI wish to advise the deputy that my department implements a risk-based approach to the management of its third-party supply chain, with measures in relation to supply chain addressed within each procurement contract as appropriate to risk.
In relation to ICT, I wish to advise the Deputy that the majority of ICT systems and related associated services are provided by the Office of the Government Chief Information Officer (OGCIO), a division of the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation. OGCIO have advised that it manages third party supply chain cybersecurity through its Information Security Management System (ISMS) framework, which includes certification to the globally recognised ISO/IEC 27001 security standard. This standard governs the assessment and treatment of supplier related risks and requires a systematic approach to identifying, assessing, and mitigating risks associated with supply chain and vulnerability management.
All third-party services are subject to appropriate due diligence, contractual and security requirements, and ongoing oversight to ensure that cybersecurity risks are effectively identified and managed. These measures form part of the Department’s broader strategy to maintain a robust and resilient cybersecurity posture.
In anticipation of the implementation of the EU Network and information Security (NIS2) Directive (Directive EU 2022/2555) transposition, my Department has established a NIS2 supply chain compliance Working Group to ensure that the Department meets NIS2 requirements by evaluating the cybersecurity compliance of its external IT service providers, developing and implementing a framework to assess and manage supply chain risks, and aligning these practices with the Department’s broader NIS2 compliance strategy and Governance Framework. While OGCIO provides most network and information system services to the Department, the supply chain obligations may also place requirements on smaller suppliers who themselves qualify as essential entities under the Directive.
404. Deputy Aidan Farrelly asked the Tánaiste and Minister for Finance to clarify, based on an article published in (details supplied) on 16 January 2026, in relation to the capital acquisitions tax treatment of life assurance policies loophole mentioned in this article, the number of clear-cut avoidance cases which Revenue have identified to date; if these transactions fall under the Revenue's Mandatory Disclosure Regime; if any mandatory disclosures were made; if any civil penalties have been sought or applied, and if so, the total amount.; and if he will make a statement on the matter. [9672/26]
View answerI am advised by Revenue that the cases identified to date have been settled under capital acquisitions tax legislation with no specific, or general, anti-avoidance provisions being applicable. It can be confirmed that no mandatory disclosures were made.
Due to its obligation to maintain taxpayer confidentiality, as provided for in Section 851A of the Taxes Consolidation Act 1997 data in relation to the cases under examination cannot be provided. Revenue only provide data in relation to groupings of 10 or more taxpayers.
More information on Revenue’s Statistical Disclosure Controls can be found on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statistics/about/statistical-disclosure-control.aspx.
405. Deputy Cathal Crowe asked the Tánaiste and Minister for Finance if a company (details supplied) are in receipt of monies from the Ireland Strategic Investment Fund (ISIF); if the company is allowed to use said monies to fund expenses (including legal representation, engineering reports and expert consultant opinions) they are incurring as part of their quest to obtain planning permission from An Coimisiún Pleanála to develop a windfarm in County Clare; and if he will make a statement on the matter. [9684/26]
View answerThe National Treasury Management Agency has informed me that the Ireland Strategic Investment Fund (ISIF) discloses its investments annually in the NTMA's Annual Report. The company referred to is not listed as an investment in the NTMA's most recently published annual report for the year 2024.
406. Deputy Barry Heneghan asked the Tánaiste and Minister for Finance the reason a foot health practitioner qualification is not recognised by the Revenue Commissioners as a qualifying medical qualification for tax purposes; the criteria used by Revenue in determining which medical or health related qualifications are recognised; whether the role of foot health practitioners in providing preventative foot care, particularly for older people, people with diabetes and people with disabilities, has been considered in this context; and if he will make a statement on the matter. [9692/26]
View answerI am advised by Revenue that section 469 of the Taxes Consolidation Act (“TCA”) 1997 provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which has been carried out or advised by (in certain circumstances) a “practitioner”, will qualify for tax relief.
Health care is defined as the “prevention, diagnosis, alleviation or treatment of an ailment, injury, infirmity, defect or disability”.
Health expenses are defined as “expenses in respect of the provision of health care” and may include, but are not limited to, the following:
• the services of a practitioner,
• diagnostic procedures carried out on the advice of a practitioner,
• maintenance or treatment necessarily incurred in connection with the services of a practitioner or diagnostic procedures carried out on the advice of a practitioner, and
• drugs or medicines supplied on the prescription of a practitioner.
A practitioner is defined as "any person who is:
• registered in the register established under section 43 of the Medical Practitioners Act 2007,
• registered in the register established under section 26 of the Dentists Act, 1985, or,
• in relation to health care provided outside the State, entitled under the laws of the country in which the care is provided to practice medicine or dentistry there".
In the case of foot health or similar services, relief may be available in circumstances where the practitioner administering the services or referring the individual for a diagnostic procedure, as the case may be, is a qualified practitioner as defined above.
Further guidance on tax relief for qualifying health expenses can be found in Revenue’s Tax and Duty Manual Part 15-01-12, which can be accessed at the following link: www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-12.pdf.
407. Deputy Peadar Tóibín asked the Tánaiste and Minister for Finance if there has been a change to the Revenue classification for VAT on children’s clothing (details supplied); when this change happened; and if, given the cost of living crisis for many families; his office would consider returning this decision to the previous ruling. [9793/26]
View answerI am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law is obliged to comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they are exempt from VAT or fall within the categories of goods and services listed in Annex III of the EU VAT Directive, to which Member States are permitted to apply lower VAT rates subject to certain rules.
However, the EU VAT Directive allows that a Member State may be permitted to maintain a historic VAT treatment, subject to strict conditions, including that the scope of its historic treatment is not expanded. On this basis, Ireland retains its long-standing application of the VAT zero rate to the supply of children's clothing not exceeding the size “appropriate to children of average build of 10 years of age”. This application of the zero rate has been set out in legislation for many decades and is currently contained in paragraph 10 of Schedule 2 of the Value-Added Tax Consolidation Act 2010.
I understand from Revenue that, in the practical administration of the measure, the zero rate applies to clothing specifically designed for children in sizes up to and including 32-inch chest, 26-inch waist and 152cm height. Clothing for 11 years of age and over or in excess of these sizes is liable to VAT at the standard rate. Also, in accordance with the legislation, if clothing is not described, labelled, marked or marketed on the basis of age or size then the standard rate of VAT applies.
There has been no change in the legislation or in Revenue’s approach regarding the classification of children’s clothing as the Deputy is asking.
Detailed guidance on the VAT treatment of clothing is published by Revenue and is available on its website at:
www.revenue.ie/en/tax-professionals/tdm/value-added-tax/part03-taxable-transactions-goods-ica-services/Goods/vat-treatment-of-clothing.pdf.
408. Deputy Joe Neville asked the Tánaiste and Minister for Finance the reason there is such a backlog in queries relating to the office of the Ombudsman; and if he will provide a timeline of when a person (details supplied) will receive a decision on their case; and if he will make a statement on the matter. [9914/26]
View answerThe Financial Services and Pensions Ombudsman (FSPO) is an independent and impartial statutory body that helps resolve complaints by consumers about the conduct of regulated financial service and pension providers.
The most recent data provided by the FSPO indicates that 86% of complaints which are closed are done so within 12 months. However, some, generally more complex complaints, are taking longer to resolve. This reflects the fact that FSPO adjudications are legally binding.
In December 2023, an increase of over 40% in staff numbers at the FSPO, from 90 to 128, was sanctioned in order to help resolve complaints more promptly. This increase in staffing is expected to significantly improve the number and timeliness of complaints being resolved.
Given that the Ombudsman is independent in the performance of their functions, as Minister for Finance, I have no role in any individual complaints or the decision-making processes of the FSPO.
The FSPO has indicated that any complainant or provider may contact the FSPO directly if they have any query in respect of a complaint to which they are a party.
Members of the Oireachtas seeking information relating to the FSPO can also do so through a dedicated email address: oireachtas@fspo.ie.
409. Deputy Paul Murphy asked the Tánaiste and Minister for Finance the steps he is taking to establish the reason the Central Bank of Ireland (CBI), in violation of international law and in direct breach of the recommendations of the Joint Oireachtas Committee Report on the Israeli Bonds Programme, transferred, on Israel's request, the Israel bonds prospectus to the Commission de Secteur du Financier in Luxembourg, given that the CBI had sole and absolute discretion to refuse that transfer request, and thereby end authorisation of the sale of Israel bonds in the EU; and if he will make a statement on the matter. [9946/26]
View answer431. Deputy Richard Boyd Barrett asked the Tánaiste and Minister for Finance the steps he is taking to end the Central Bank’s facilitation of the sale of Israeli bonds in the EU, given that the Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach, in its report on the Israeli bonds programme, published on 5 August 2025, unanimously found that these bonds assist the financing of Israel’s violations of human rights and contravening international law; and if he will make a statement on the matter. [10227/26]
View answerI propose to take Questions Nos. 409 and 431 together.
The Joint Committee on Finance, Public Expenditure, Public Services Reform and Digitalisation, and Taoiseach, published their report on the Israeli Bond Programme on their website on 5 August 2025 and in that report it made a number of recommendations.
Financial services is a devolved competency and any recommendation to amend the Prospectus Regulation is a matter for the European Commission. On 21 October the European Commission published its 2026 work programme, and this does not include a review of the Prospectus Regulation.
With regard to the recommendation that the Ireland Strategic Investment Fund (ISIF) conduct a risk assessment, including their obligations under international law. I am informed that as part of its wider Sustainability and Responsible Investment (SRI) Strategy, ISIF pursues an Active Ownership strategy, this is facilitated by its engagement manager, "EOS at Federated Hermes". Active Ownership emphasises responsible wealth creation through active engagement on ESG priorities.
In relation to the recommendations in the Committee’s Report that were addressed to the Central Bank of Ireland, they have informed my officials that they reviewed the recommendations in the report issued by the Committee; that they have had various correspondences with the Committee; and the Bank at senior level have set out their position both in writing and at various public sessions of the Committee.
In accordance with the provisions of the Prospectus Regulation concerning ‘Home Member States’ and the transfer of approval (Article 20(8)), the competent authority of Luxembourg (CSSF) approved a new prospectus for the State of Israel on 1 September 2025 (the 2025 Prospectus). The Central Bank has indicated that, while they approved the transfer of the prospectus approval to Luxembourg, they had no role in the review and approval of the 2025 prospectus for the State of Israel.
Central Bank officials have also confirmed to my Department that they continued to keep under review the compliance of the 2024 Prospectus with the applicable legal and regulatory framework until that prospectus expired on 1 September 2025.
The Central Bank indicate that they could not give effect to some of the recommendations of the Report as they related to the 2025 Prospectus as it had no role in the review and approval of that prospectus. The CSSF acted independently in that capacity.
By way of more general background, my officials have been informed by the Central Bank that following the Central Bank’s attendance at the Joint Committee in October 2024, the Central Bank carried out an internal review of the process relating to the approval of 2024 Prospectus. The Central Bank wrote to the Joint Committee in December 2024 with regard to that review.
The Central Bank subsequently appeared before the Joint Committee in June 2025 to answer additional questions with regard to its role as competent authority in Ireland with regard to the EU Prospectus Regulation. After that meeting, the Central Bank followed up with additional correspondence to the Joint Committee in relation to this matter.
Through these engagements the Central Bank has, on more than one occasion, disclosed relevant information with regard to its role as a competent authority under the EU Prospectus Regulation in relation to the 2024 Prospectus.
During this period, and up to 1 September 2025, the Central Bank has kept under review the compliance of the 2024 Prospectus with EU law, national law and international law. It is the Central Bank’s assessment, taking into account legal advice, that it did not have a legal basis to refuse to approve or suspend any offers under the 2024 Prospectus.
Finally, the Central Bank has on a number of occasions pointed out that it is restricted by way of professional secrecy obligations from providing confidential information with regard to specific supervisory matters.
410. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance the number of applications received and approved under (a) Transfer of Business relief and (b) Returned Goods Relief in respect of construction tools brought into the State by returning Irish citizens in each of the past five years; the number refused in each case; and the principal grounds for refusal. [10001/26]
View answer411. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance if he will outline the position in respect of Irish citizens returning to live and work in the State as employees in the construction sector who bring personally owned tools with them from non-EU countries; and if he accepts that such individuals are excluded from Transfer of Business relief under current rules. [10002/26]
View answer412. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance whether his Department has undertaken any assessment of the impact of Customs Duty and VAT charges on construction tools on the return of skilled Irish tradespeople from outside the EU, in light of acknowledged labour shortages in the construction sector; and if he will make a statement on the matter. [10003/26]
View answer413. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance the average processing time for applications under Transfer of Business relief involving tools of the trade; the documentation most commonly outstanding or queried by Revenue; and whether any guidance has been issued to streamline applications for returning Irish citizens. [10004/26]
View answer414. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance if consideration has been given to extending relief from Customs Duty and VAT on tools of the trade to returning Irish citizens employed in the construction sector who do not meet the sole-trader criteria for Transfer of Business relief; and if not, the reason for this position. [10005/26]
View answerI propose to take Questions Nos. 410, 411, 412, 413 and 414 together.
I will take questions 10001, 10002, 10003, 10004 and 10005 together.
I am informed by Revenue that there is no tax payable on tools, if the tools are being brought into Ireland from another EU Member State.
If the tools are being imported into the state from a non-EU country, then Customs Duty and VAT may be chargeable on the tools. However, there are two reliefs in EU law that may allow the import of tools by an individual into the EU/Ireland without Customs Duty or VAT being charged on them.
There is a relief from Customs Duty and VAT associated with ‘Transfer of Business’ relief which, in certain circumstances, can apply to tools of the trade. To qualify for this relief, a tradesperson must have ceased activity outside the EU and moved to Ireland to carry out a similar activity here. A new sole trader activity must be set up in Ireland. Proofs of registration both outside the EU and on return to Ireland will be required to avail of the relief.
If ‘Transfer of Business’ relief is applicable, the individual must complete a ‘Transfer of Business Activities’ (www.revenue.ie/en/customs/individuals/customs/c-and-e-1078.pdf) form and present it to Revenue.
Proof of the transfer of business activities to the European Union (EU) is required, as follows:
• Proof from the Revenue Authorities in the non-EU country where the business was established, confirming that the person / business has ceased trading there.
• Proof of details of sole trader commencement in Ireland.
• Provide evidence that the goods in question have been used in the business for a period of at least 12 months e.g. sales invoices, receipts of purchase.
Irish citizens returning to live and work in the State as employees in the construction sector who bring personally owned tools with them from non-EU countries don’t qualify under Transfer of Business rules as proof is required that a business has ceased outside the EU and a new business has been set up in Ireland.
There is also another relief called Returned Goods Relief (RGR) which provides relief from Customs Duty and VAT when goods are re-imported into an EU Member State from a non-EU country. This relief is applicable where the tools being returned to Ireland have been exported from Ireland in the first place by the tradesperson. The following proofs are required to be eligible to claim RGR on personal tools:
• Proof that the tools were exported from Ireland in the first instance i.e. an export declaration.
• Proof that the export from Ireland and re-importation into Ireland is happening within a 3 year period.
• Proof that the person bringing the tools back into Ireland is the same person who brought them out of Ireland is required to claim relief from VAT.
• Proof that the tools are being returned in the same state that they were originally in when brought out of the EU, i.e. the goods are unaltered.
‘Transfer of Residence’ Relief can, in certain circumstances, apply to tools, but only if they are intended for personal, non-commercial use.
These reliefs are available under EU legislation called the Union Customs Code (UCC) which defines the legal framework for customs rules and procedures in the EU customs territory. As Customs is an EU competence and applies in all Member States, it is not possible for me, as Minister for Finance, to change these reliefs or implement any further measures that are not provided for in the UCC.
Statistical information on claims for these reliefs in relation to tools is not collected, so Revenue are unable to provide the numbers of claims received, the numbers of claims approved or of the number of claims rejected.
Claims in relation to either relief are processed promptly. However, delays can occur where the documentation provided is insufficient. In these cases, the time taken to approve the applications will depend on how quickly the additional documentation is provided to Revenue. The documentation most commonly outstanding or queried by Revenue varies depending on the type of relief. In relation to Returned Goods Relief, there can be issues with the correct proofs being supplied by the applicant to show that the tools were originally exported from the EU and that they were returned to the EU in an unaltered state within three years. In relation to Transfer of Residence, issues can arise in relation to proving residence abroad and the ownership and use of the imported tools while abroad. To assist citizens, detailed information in relation to both reliefs and the documentation required is available on the Revenue website at www.revenue.ie.
I can also confirm that the Department of Finance has not undertaken any assessment of the impact of Customs Duty and VAT charges on construction tools on the return of skilled Irish tradespeople from outside the EU.
415. Deputy Peter 'Chap' Cleere asked the Tánaiste and Minister for Finance the amounts of payment fraud in Ireland in 2022, 2023 and 2024, broken down by payment instrument; and if he will make a statement on the matter. [10034/26]
View answerAs the Deputy is aware, payment fraud is an increasingly significant issue and my officials are actively working to address it through a variety of measures at both at the domestic and EU levels.
The Instant Payments Regulation introduced an IBAN/name check, which applies to both instant payments and standard credit transfers and is now in effect. This measure reduces payment fraud by alerting the payer when the name of the account they are sending money to does not match the name they have inputted.
The Payment Services Regulation has recently reached political agreement in the EU. This agreement includes a requirement for search engines and social media platforms to verify that persons advertising financial services on their platforms, have the necessary regulatory authorisation to provide those financial services. This measure is based on a proposal brought forward by Ireland during legislative negotiations.
In addition to financial services advertiser vetting, the Payment Services Regulation includes several other fraud prevention measures such as spending limits, expanded transaction monitoring, fraud information sharing arrangements, anti-fraud education and awareness initiatives, and cross-sector cooperation and data sharing between Payment Service Providers (PSPs), communication service providers, and hosting services for the purpose of detecting and preventing fraud.
Furthermore, the Payment Services Regulation will expand bank liability beyond cases of unauthorised payment fraud to also include cases of impersonation fraud, where the victim is manipulated into authenticating a payment by a person impersonating their bank.
Domestically, the National Payments Strategy makes several recommendations related to payment fraud. One key outcome has been the establishment of the BPFI anti-fraud forum. The anti-fraud forum fosters cross-sectoral cooperation in fraud prevention between key players such as banks, social media platforms, telecommunications, and regulatory authorities.
The Central Bank of Ireland has provided me with the below data, which outlines the amount of payment fraud in Ireland in 2022, 2023, and 2024. As requested by the Deputy this data is broken down by payment instrument. The data shows that the volume of payment fraud has increased year on year, as criminal actors grow increasingly sophisticated in their fraud operations. This data reinforces the need for the anti-fraud actions outlined above and supports the work already underway.
|
Payment Instrument |
2022 |
2023 |
2024 |
|
Card payment |
€33,796,974.45 |
€44,294,957.30 |
€45,423,067.65 |
|
Cash withdrawal using cards |
€823,840.99 |
€637,391.10 |
€828,264.82 |
|
Cheques |
€1,904,903.78 |
€1,051,734.80 |
€178,694.00 |
|
Credit transfer |
€60,692,782.66 |
€70,719,268.38 |
€67,666,770.06 |
|
Direct debit |
€46,935.98 |
€356,771.55 |
€9,534.49 |
|
E-money payment |
€2,553,842.46 |
€3,361,547.98 |
€25,633,955.07 |
|
Money remittance |
€2,561,712.73 |
€8,216,263.74 |
€20,459,942.31 |
|
Grand Total |
€102,380,993.05 |
€128,637,934.85 |
€160,200,228.40 |
416. Deputy Peter 'Chap' Cleere asked the Tánaiste and Minister for Finance the average credit union housing loan issued to end December 2024 and to end December 2025; the total amount of outstanding housing loans issued by credit unions to end December 2024 and to end December 2025; and if he will make a statement on the matter. [10035/26]
View answerData provided by the Central Bank Of Ireland, based on prudential returns submitted by credit unions, outlines the following positions as at the end of December 2025 and the end of December 2024.
2025 – The total amount outstanding in house lending was €946.98 million with an average loan size of €134,342.
2024 – The total amount outstanding in house lending was €784.32 million with an average loan size of €127,386.
417. Deputy Peter 'Chap' Cleere asked the Tánaiste and Minister for Finance the total amount of SEPA instant payments made in Ireland to December 2025; and the average payment value; and if he will make a statement on the matter. [10036/26]
View answerAs the Deputy may be aware, instant credit transfers (or instant payments) are a form of credit transfer whereby funds pass from the payer’s account to the payees within 10 seconds, at any time, day or night, and any day of the year. This distinguishes instant payments from other credit transfers, which are processed by Payment Service Providers (PSPs) during business hours; with the funds credited to the payee only by the end of the following business day. In accordance with the Instant Payments Regulation, banks are required to be capable of receiving instant payments since January 2025 and capable of sending instant payments since October 2025.
The Central Bank of Ireland has informed me that in 2023, €8,253,056,630.25 worth of SEPA instant credit transfers were made with an average value per transaction of €309.12. In 2024 this figure more than doubled to €19,077,593,866.85 worth of SEPA instant credit transfers, with an average value per transaction of €323.25. Data for 2025 is not yet available.
The Central Bank has advised that 2025 data will be available by the end of April.
