Written Answers Nos. 197-216
197. Deputy Naoise Ó Cearúil asked the Tánaiste and Minister for Finance when a revised medium-term fiscal plan will be submitted to the European Commission; and if he will make a statement on the matter. [69881/25]
Amharc ar fhreagraThe Medium-Term Fiscal and Structural Plan (MTP), will be published in the coming days. In line with all relevant European regulations and procedures, the Plan will be submitted to the European Commission shortly thereafter.
Although each Member State has discretion over the content of its MTP, information is required on three core elements: the fiscal strategy, investment plans and structural reforms. Of these, the fiscal strategy is the key component.
Further details will be available when the Plan is published.
199. Deputy John Clendennen asked the Tánaiste and Minister for Finance the position regarding the National Financial Literacy Strategy; and if he will make a statement on the matter. [69736/25]
Amharc ar fhreagraIreland’s first National Financial Literacy Strategy was published by the Minister of Finance in February this year.
The focus of the five-year Strategy is to improve levels financial literacy by working with Ireland’s financial literacy ecosystem – increasing cooperation, coordination and cohesion among stakeholders – and thereby supporting greater overall financial wellbeing and resilience.
My Department worked closely with a range of public and private sector organisations throughout the Strategy’s development. This included educators, the financial services industry, civil society and Government Departments and agencies. This engagement continues as we now implement the Strategy.
At the same time as the Strategy as published, my Department also launched:
• an Action Plan to support the implementation of the Strategy in 2025;
• a website to provide information about the National Financial Literacy Strategy and relevant research at www.financialliteracy.ie; and
• guidelines for the financial services industry delivering financial education in schools.
The 2025 Action Plan sets out actions stakeholders have agreed to take to fulfil the Strategy's aims and objectives. Work is underway to review the 2025 Action Plan and to develop a new action plan for 2026/2027, which I expect to be published early next year.
200. Deputy Tony McCormack asked the Tánaiste and Minister for Finance if he is satisfied that insurance reforms are being passed on to SMEs and retailers, who continue to face high premiums; and if he will make a statement on the matter. [69878/25]
Amharc ar fhreagraThe previous Action Plan for Insurance Reform, published in 2020, delivered substantial changes to reduce claims costs and create the conditions for a more competitive and affordable insurance market. Most notably, the rebalancing of the Duty of Care, reforming the Injuries Resolution Board (formerly PIAB) and the introduction of new Personal Injuries Guidelines.
There are clear indications that the market responded to the Government reform agenda. Key to this was the overhaul of the duty of care, the policy intent of which was to address ‘slips, trips and fall’ type claims, which are prevalent in the activity-based or heavy-footfall sectors. The Courts and Civil Law (Miscellaneous Provisions) Act 2023 further strengthened the duty of care, thereby helping to reduce the volume of costly litigation, particularly for “slips, trips and falls” cases that disproportionately affect hospitality and retail businesses. The National Claims Information Database (NCID), operated by the Central Bank of Ireland, also provides independent and transparent data on claims costs, settlement channels, and premium trends.
While certain reforms have begun to stabilise award levels, delays in litigation and wider inflationary factors continue to impact premiums. The Programme for Government commits to a comprehensive series of actions aimed at enhancing affordability, availability and transparency across the insurance sector. One of the first steps to deliver on these commitments is the 2025 Action Plan for Insurance Reform, which was published by the Government on 24th July. This Action Plan sets out an updated and comprehensive suite of targeted measures to further improve affordability, availability, and transparency across the sector. Key actions include faster release of NCID data, enhanced reporting standards, and ongoing engagement with both domestic and international insurers to encourage greater competition in the market. Similarly, the Office to Promote Competition in the Insurance Market (OPCIM) has been active in seeking to restore insurance availability in sectors that previously struggled, such as equestrian activities, inflatable hire, adventure tourism, childcare, and high-footfall SMEs like pubs and hospitality.
Deepening and widening the supply of insurance and securing a sustainable insurance market is a key priority of Government to ensure broader availability and affordability across all types of insurance.
201. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance the number of workers his Department has forecast to move up an income tax band in 2026, as a result of the freezing of income tax bands within Budget 2026; and if he will make a statement on the matter. [73184/25]
Amharc ar fhreagra363. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance the number of people the Government expects to move up an income tax band in 2026, as a result of the freezing of income tax bands within b##udget 2026; and if he will make a statement on the matter. [69527/25]
Amharc ar fhreagraI propose to take Questions Nos. 201 and 363 together.
I am advised by Revenue that it is estimated that just under 36.5 per cent of taxpayer units (approximately 1.28 million) will remain outside the income tax net in 2026 (7.4 per cent exempt and 29.1 per cent whose income tax liability will be fully covered by their tax credits). This equates to approximately 23,000 taxpayer units or 1.0 per cent who in 2026 have a net income tax liability where they did not have a liability in 2025.
I am further advised by Revenue, that it is estimated that an additional 76,400 taxpayer units will be subject to the higher rate of income tax in 2026 compared to 2025. As a result, it is expected that approximately 30.3 per cent of taxpayer units will pay the higher rate of income tax in 2026 compared to 28.3 per cent in 2025.
As the Deputy will be aware, Budgets are about choices. This Budget was designed to boost our economic resilience and to support workers and growth in their income by investing in jobs and in their future. This is the first of five Budgets to be delivered by this Government, and the Government remains committed and will stand by the Programme for Government commitment to make progressive changes to personal income tax, if the economy remains strong.
202. Deputy Erin McGreehan asked the Tánaiste and Minister for Finance his plans for the disabled drivers and disabled passengers scheme; and if he will make a statement on the matter. [69531/25]
Amharc ar fhreagra251. Deputy Pádraig O'Sullivan asked the Tánaiste and Minister for Finance his plans to make changes to the disabled drivers scheme; if he will consider expanding eligibility and modernising the scheme; and if he will make a statement on the matter. [68207/25]
Amharc ar fhreagraI propose to take Questions Nos. 202 and 251 together.
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.
Under the aegis of the Department of the Taoiseach, the sub-group convened to progress the National Disability Inclusion Strategy proposals for a needs-based, grant-aided, modern vehicle adaptation supports to replace the DDS, generated a report that was submitted to the Department of the Taoiseach. In considering this report, it has been proposed that a new grant-based scheme be developed and led by the Department of Transport.
The Department of Transport is beginning the development of this new scheme. The existing DDS remains with the Department of Finance and will continue to be reviewed in the context of new scheme developments by the Department of Transport.
As the Deputy will be aware, when this government took office, we committed to a step change in the delivery of supports and services for people with disability and their families.
Budget 2026 is the first step in delivering on this ambition, providing some €3.83 billion to specialist disability services next year, an unprecedented increase of €618 million, or almost 20%.
This funding will be vital in delivering the National Human Rights Strategy for Disabled People. The commitment to develop a new scheme by the Department of Transport, and in this context review the Disabled Drivers and Disabled Passengers Scheme, are strong commitments in this strategy.
203. Deputy Aisling Dempsey asked the Tánaiste and Minister for Finance the number of people that have been supported under help-to-buy scheme since 2020; and if he will make a statement on the matter. [69654/25]
Amharc ar fhreagraThe Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also aims to encourage additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to the limits outlined in the legislation.
The level of support available to first time buyers under the HTB scheme, is whichever is the lesser of:
• €30,000; or
• 10 per cent of the purchase price of the new property; or,
• the amount of Income Tax and DIRT paid in the four years before application for the relief.
I am informed by Revenue that, in the period 1 January 2020 to 14 December 2025, there were 45,481 approved claims in relation to 82,728 people.
204. Deputy Matt Carthy asked the Tánaiste and Minister for Finance the amount raised through the carbon tax in each of the years 2019 to 2024; and the amount projected to be raised in each of the years 2025 to 2030. [73037/25]
Amharc ar fhreagraI am advised by Revenue that the amounts raised through the Carbon Tax in each of the years 2019 to 2024 are shown in the following table. It is projected that receipts in 2025 will be in the region of €1,180m.
|
Year |
Receipts €m |
|
2024 |
1,067.5 |
|
2023 |
934.7 |
|
2022 |
790.6 |
|
2021 |
652.3 |
|
2020 |
493.6 |
|
2019 |
430.5 |
I am further advised by Revenue that a breakdown of carbon tax receipts, across all fuel and energy types, for the years 2019 to 2024 and previous years is published on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statistics/excise/receipts-volume-and-price/excise-receipts-commodity.aspx
The Deputy has requested the amount projected to be raised through the carbon tax in each of the years up until 2030. In July, my department published updated Carbon Tax Projected Exchequer Revenue Estimates (2013-2030) as part of the Tax Strategy Group paper on Energy, Environmental and Vehicle Tax. The updated carbon tax projected revenue estimates section of the paper examines how domestic climate change policies are expected to impact carbon tax yields, as our economy transitions to a low carbon economy in line with most recent climate action plan measures. This scenario analyses maps and links forward projected estimates of energy use and expected fuel requirements from the Sustainable Energy Authority of Ireland (SEAI) to carbon tax rates and exchequer net carbon tax receipts to examine the potential impact of the implementation of the Climate Action Plan actions between 2025 and 2030 based on the SEAI and the Environmental Protection Agency (EPA) ‘With Additional Measure’ (WAM) scenario and ‘With Existing Measure’ (WEM) scenario analysis. This paper is available on my Department's website: assets.gov.ie/static/documents/TSG_25-10_Energy_Environmental_and_Vehicle_Tax_UPD.pdf
205. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance if his attention has been drawn to payment app fraud using digital banks; and if he will make a statement on the matter. [73185/25]
Amharc ar fhreagraI am aware of the issue of payment fraud, including payment fraud that is carried out through online banking apps offered by both traditional and digital banks.
The introduction of strong customer authentication under the second Payment Services Directive reduced unauthorised payment fraud, where a stolen payment instrument such as a card is used to make fraudulent payment transactions.
However, fraudsters have adapted by manipulating victims into authorising fraudulent payments often via online banking apps. This type of fraud is known as impersonation or Authorised Push Payment (APP) fraud and has been on the rise across the EU.
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.
In the EU, the Payment Services Regulation has recently reached political agreement. Anti-fraud measures in the regulation include bank liability for losses from impersonation fraud when the bank is impersonated, spending limits, expanded transaction monitoring, fraud information sharing arrangements, and anti-fraud education and awareness.
The compromise 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. It aims to prevent fraudsters from placing adverts for fake financial services on online platforms.
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.
206. Deputy Louise O'Reilly asked the Tánaiste and Minister for Finance the ethical guidelines used to determine whether or not the State will invest in companies with links to the illegal occupied territories; and if he will make a statement on the matter. [73047/25]
Amharc ar fhreagraThe NTMA have informed me that the Ireland Strategic Investment Fund (ISIF) is a universal owner, meaning its long-term returns are dependent on the economy’s overall health, and therefore integrating Environmental, Social and Governance (ESG) factors are core to its investment approach. ESG consideration benefits ISIF not just through each individual investment, but also at an overall portfolio level, ultimately enhancing the long-term value of the Fund.
ISIF’s overarching approach to Sustainability and Responsible Investment (S&RI) includes the following key tools that ISIF uses to implement ESG in a broadly consistent manner across its portfolios:
Integration: ESG & Climate Framework tool used to assist in the identification, monitoring and mitigation of material ESG risks across the Irish Portfolio. Throughout its investment decision making process, ISIF aims to mitigate and manage ESG issues.
Active Ownership: ISIF has a long history of active ownership and EOS at Federated Hermes provides Active Ownership services for the Global Portfolio and all voting records are reported quarterly on ISIF's website.
Analysis: ISIF uses the services of ISS-ESG to conduct detailed portfolio analytics including carbon foot printing and impact analysis aligned with the UN Sustainable Development Goals (SDG’s).
Divestment & Exclusions: As of May 2024, in accordance with its obligations under the Fossil Fuel Divestment Act 2018, ISIF had developed a list of 247 fossil fuel companies in which it will not invest. In addition, ISIF also maintains an exclusionary strategy around cluster munitions and antipersonnel mines (which are prohibited investments under the Cluster Munitions and Anti-Personnel Mines Act 2008), coal production and processing, tobacco manufacturing and direct investment in companies involved in the manufacture and testing of nuclear weapons or their critical component parts.
The Deputy may be aware of the UN Human Rights Council Database (the UN Database) identifying businesses involved in specific activities which was first issued in 2020, updated in June 2023 and most recently updated to include 158 companies in September 2025 as mandated by the UN Human Rights Council.
ISIF has taken an investment decision to divest from six companies, all of which remain on the updated UN Database, with a total value at the time of the divestment decision of approximately €2.95m. The six companies are Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank Ltd; Mizrahi Tefahot Bank Ltd; First International Bank Ltd and Rami Levi Chain Stores Ltd.
I understand that ISIF will continue to monitor its holdings to ensure that investments remain aligned with its risk profile and investment parameters. ISIF does not comment on individual investments, however a list of ISIF investments are available in the 2024 NTMA Annual Report.
Neither the Future Ireland Fund nor the Infrastructure Climate and Nature Fund have any current investments in the occupied Palestinian territories.
207. Deputy Willie O'Dea asked the Tánaiste and Minister for Finance his Department’s latest economic forecasts for 2026; and if he will make a statement on the matter. [69698/25]
Amharc ar fhreagraMy Department’s autumn economic forecasts are set out in the Economic and Fiscal Outlook which was published alongside Budget 2026. These forecasts were endorsed by the Irish Fiscal Advisory Council.
Despite recent external headwinds, my Department expects growth in the Irish economy to remain relatively solid in 2026. Modified Domestic Demand, my preferred measure for assessing the domestic economy, is expected to grow by 2.3 per cent next year. Strong momentum in consumer spending is projected to continue into 2026 with annual growth of 2.3 per cent also forecast.
Employment is projected to expand by 1.5 per cent next year with unemployment expected to remain relatively low and broadly consistent with 'full employment'.
Risks to the outlook are two-sided, though tilted to the downside; these risks are primarily external in nature. Most notably, a deterioration in the international economy – triggered, for instance, by a further escalation in geopolitical tensions – could have negative spill-overs to the Irish economy.
208. Deputy Cathal Crowe asked the Tánaiste and Minister for Finance the measures being taken to unlock the significant amount of capital held on deposit accounts in Ireland to support housing and critical infrastructure delivery; and if he will make a statement on the matter. [72880/25]
Amharc ar fhreagraThe Deputy will be aware that the National Development Plan (NDP) Review published in July 2025 set out €275.4 billion in public capital investment to 2035. This represents the largest ever capital investment programme in the history of the State. As part of this, the allocation of NDP funding prioritised investment in the critical growth-enabling sectors of housing, energy, water and transport.
Any intention to use deposits for infrastructure as proposed by the Deputy would mean the borrowing of such funds by the State from depositors. Such borrowing and a rate of interest would ultimately have to be repaid by the State.
The State already borrows from its citizens through State Savings. Such borrowing forms part of the National Debt and repayment of all Ireland State Savings money is a direct, unconditional obligation of the Irish Government. All savings invested in this way are available to the Exchequer to fund Government expenditure, including the delivery of major Irish public infrastructure projects.
209. Deputy Michael Cahill asked the Tánaiste and Minister for Finance to increase the inheritance tax threshold from €400,000 to €500,000 to account for increased asset values in both agriculture and residential homes; and if he will make a statement on the matter. [73183/25]
Amharc ar fhreagraCapital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances and is charged at a rate of 33%. For CAT purposes, the relationship between the person giving a gift or inheritance and the person who receives it determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. The group thresholds were most recently increased in Budget 2025.
The Group A threshold increased to €400,000 from €335,000. This threshold applies where the beneficiary is a child of the disponer. This includes adopted children, stepchildren and some foster children. Parents may also fall within this threshold where they take an inheritance from a child.
The Group B threshold increased to €40,000 in Budget 2025 from €32,500. This threshold applies where the beneficiary is a brother, sister, niece, nephew, or lineal ancestor or lineal descendant of the disponer. Following recent changes made to Capital Acquisitions Tax legislation, the Group B threshold also applies to persons who receive gifts and inheritances from the wider family of their foster parents, for example, from their foster siblings, uncles, aunts and grandparents.
The Group C threshold increased to €20,000 in Budget 2025 from €16,250, with this threshold applying to all other cases.
Along with tax free group thresholds, various reliefs and exemptions are available in relation to CAT, including agricultural and business relief. There is also the small gift exemption, favourite niece or nephew relief, and the dwelling house exemption.
In general, the availability of specific reliefs in respect of a particular tax head often requires a higher rate in order to generate an appropriate yield. It is important from a tax policy perspective to maintain stability and certainty, and to ensure that the CAT rate and thresholds are appropriately set in the context of the range of reliefs available.
There is a significant associated cost with further increasing the Group A threshold, but I recognise the burden of capital taxation. Further changes to the CAT rate and thresholds must be therefore considered among various demands within the overall Budget package, as they have been in the past. Further details of the costs of changes are available on the Ready Reckoner which was updated and published by Revenue after Budget 2026.
210. Deputy Cian O'Callaghan asked the Tánaiste and Minister for Finance the work being carried out to reduce insurance premiums, including public liability insurance premiums; and if he will make a statement on the matter. [73182/25]
Amharc ar fhreagraWhile neither I as Tánaiste and Minister for Finance, nor the Central Bank, can intervene directly in pricing under EU Solvency II rules, ensuring that consumers have access to affordable insurance cover is a key priority for this Government.
Considerable progress in this area has already been made achieved through the 2020 Action Plan for Insurance Reform, including the introduction of the Personal Injuries Guidelines, legal reforms to rebalance the duty of care, and the establishment of the Office to Promote Competition in the Insurance Market (OPCIM).
A key focus of the reform agenda was addressing personal injury costs, which historically accounted for around 70% of overall motor insurance claims costs. Thanks to the introduction of the Personal Injuries Guidelines and related reforms, that figure has now moved to 46%. However, the last few years has seen the emergence of inflationary pressures. This rise is driven by a combination of external factors, including increased vehicle technology, supply chain disruptions, and a tightening labour market; all of which have raised the cost of repairs.
The 2025 Action Plan for Insurance Reform sets out comprehensive range of targeted measures to further improve affordability, availability, and transparency across the insurance sector. As part of the Action Plan, a transparency code for the insurance industry is under development. The Code will require insurers to provide simple, understandable explanations of how premiums are formed and what broader factors influence pricing. It is my expectation that the Code will be finalised by the end of this year.
The Government also remains committed to addressing the cost of insurance through the work of the Office for the Promotion of Competition in the Insurance Market. In terms of business and commercial insurance, existing providers have also indicated that they are expanding their risk appetite to underserved areas and various sectors are reporting reductions in the rate being charged for liability cover.
I am firmly of the view that securing a more sustainable and competitive market through deepening and widening the supply of insurance will support broader availability and affordability across the market, benefiting consumers and businesses alike.
211. Deputy Catherine Callaghan asked the Tánaiste and Minister for Finance if he will consider introducing a reduced stamp duty of 1% on land purchases for full-time farmers with a green cert between the ages of 35 and 40, to help ensure the long-term sustainability of Irish agriculture; and if he will make a statement on the matter. [69979/25]
Amharc ar fhreagraThe focus of this question seems to be a request that the Young Trained Farmer (Stamp Duty) relief, be tapered through providing a reduced Stamp Duty rate of 1% on land purchases by full time farmers with a green cert between the ages of 35 and 40.
Currently this relief which is legislated for in Section 81AA of the Stamp Duties Consolidation Act 1999, provides a full exemption from Stamp Duty on the transfer of farmland (which would normally apply at a rate of 7.5%), subject to certain conditions being met.
The main conditions for the relief are that the transferee:
• is under 35 years of age on the date of execution of the deed of transfer,
• holds an approved agricultural qualification,
• intends to spend not less than 50% of their normal working time farming the land for a period of not less than 5 years from the date the land is transferred,
• intends to retain ownership of that land for a period of at least 5 years from the date the land is transferred,
• submits a business plan to Teagasc before the execution of the instrument concerned, and
• is a microenterprise or small enterprise, as defined in Annex 1 of the EU’s Agricultural Block Exemption Regulation or ABER.
Finance Bill 2025, which is currently working its way through the legislative process, provides for a further extension of the Young Trained Farmer (Stamp Duty) relief to the end of 2029.
The age limit of 35 which applies in terms of Young Trained Farmer reliefs, including the Stamp Duty relief, has previously been examined by my officials, including in the Report on Tax Expenditures published with Budget 2022 (see page 51-55 and annexes of budget-2022-report-on-tax-expenditures-2021.pdf).
The most recent consideration of the age limits applied to agri-tax reliefs took place as part of the work of the Commission on Generational Renewal in Farming. The Commission, established by the Minister for Agriculture, Food and the Marine, stated in its report (published 16 September 2025, and available on the website of Minister Heydon's Department) that “An age limit of 35 currently applies to the Stamp Duty Relief for Young Trained Farmers. Any extension of this age limit would negatively affect the intergenerational transfer of farms and the Commission does not believe it should be changed” (page 121).
While the tapering of the relief as suggested in this question was not raised in the reports that I have referenced, it is likely that the same issues which gave rise to the decisions/recommendations outlined in them would apply in that regard.
It continues to be the view of my Department that 35 is an appropriate maximum age limit for such reliefs as it best serves their primary purpose of facilitating and encouraging intergenerational farm transfers.
However, a range of measures in relation to farming and the sustainability of farming are kept under review, as part of the annual Budget and Finance Bill process and as part of wider tax policy considerations.
212. Deputy Barry Heneghan asked the Tánaiste and Minister for Finance his views on the continuing rise in insurance costs for households small businesses and community groups including the reasons for recent premium increases; the extent to which further reductions in claims costs have been passed on to consumers; the actions his Department will take to improve affordability competition and transparency in the insurance market; and if he will make a statement on the matter. [69891/25]
Amharc ar fhreagraSignificant progress has been achieved through the 2020 Action Plan for Insurance Reform, including the introduction of the Personal Injuries Guidelines, legal reforms to rebalance the duty of care, and the establishment of the Office to Promote Competition in the Insurance Market (OPCIM).
A key focus of the reform agenda was addressing personal injury costs, which historically accounted for around 70% of overall motor insurance claims costs. Thanks to the introduction of the Personal Injuries Guidelines and related reforms, that figure has now moved to 46%. However, the last few years has seen the emergence of inflationary pressures. This rise is driven by a combination of external factors, including increased vehicle technology, supply chain disruptions, and a tightening labour market; all of which have raised the cost of repairs.
The Government is firmly committed to delivering further action to drive down insurance costs impacting consumers, with the publication of a new Action Plan for Insurance Reform on 24th July. It sets out a comprehensive set of targeted measures to further improve affordability, availability, and transparency across the insurance sector. As part of the Action Plan, a transparency code for the insurance industry is under development. The Code will require insurers to provide simple, understandable explanations of how premiums are formed and what broader factors influence pricing.
Similarly, the work of the Office to Promote Competition in the Insurance Market has been instrumental in restoring insurance availability in sectors that previously struggled, such as equestrian activities, inflatable hire, adventure tourism, childcare, and high-footfall SMEs like pubs and hospitality. In addition, feedback from insurance stakeholders has indicated that more capacity is entering the market and certain insurance rates are reducing. This is an indication that the Government’s reform agenda is having an impact.
Fostering a more open and competitive insurance market, and ensuring that all consumers benefit from increased capacity, better pricing, and greater choice across all types of insurance, remains a key priority for this Government.
214. Deputy Aindrias Moynihan asked the Tánaiste and Minister for Finance the number of PAYE taxpayers identified that have yet to claim their rent tax credit for 2024 and 2025; and if he will make a statement on the matter. [73064/25]
Amharc ar fhreagraThe Rent Tax Credit (RTC) was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. The RTC has played a valuable role in providing financial support to renters right across the country.
For the years 2022 and 2023 the RTC was valued at a maximum of €500 for a single individual and €1,000 for a jointly assessed couple. For the years 2024 and 2025 the RTC is valued at a maximum of €1,000 for a single individual and €2,000 for a jointly assessed couple.
As announced in Budget 2026 and as provided for in Finance Bill 2025, the RTC is being extended, in its current form, for a further three years, to the end of 2028.
I am informed by Revenue that they are unable to prepare estimates of the numbers of taxpayers who are eligible to claim the RTC. The uptake is dependent on the number of taxpayers who meet the eligibility criteria associated with this credit, and who make a claim on their annual tax return or claim the credit in-year via Revenue’s MyAccount service. However, during the Budget 2023 process, my Department estimated that some 400,000 persons may have been eligible to claim the credit.
The number of claims by PAYE taxpayer units, for 2024 and 2025 to-date, as of 1 December 2025 are 308,645 and 95,432 respectively. A taxpayer unit is either an individual with any personal status who is singly assessed or a couple in a marriage or civil partnership who have elected for joint assessment, in which case they are counted as one taxpayer unit.
It should be noted that most claims for credits by PAYE taxpayer's units take place after the year-end, and it is expected that the bulk of claims for 2025 will not be made until 2026.
215. Deputy Malcolm Byrne asked the Tánaiste and Minister for Finance the preparations being made for the introduction of a digital euro; if he intends an information campaign on the project; and if he will make a statement on the matter. [69522/25]
Amharc ar fhreagraThe digital euro is a strategic investment for the future of European payments. The digital euro will offer a free and reliable digital payment system for consumers, operating seamlessly across the euro area, even in the event of critical infrastructure outages, whilst offering high inclusivity and privacy levels.
On 28 June 2023, the European Commission put forward a proposal on the establishment of the digital euro. Work on the regulation is currently following the normal legislative process through the European Council and the European Parliament. The legislation is still under negotiation at the first step of the process whereby the Council and the European Parliament separately agree their general approaches.
The Governing Council of the European Central Bank has recently decided to move to the next phase of the digital euro project, technical readiness. This decision follows the successful completion of the preparation phase, launched by the Eurosystem in November 2023, and preceded by its investigation phase which laid the foundations for issuing a digital euro.
It should be noted that the launch of the technical readiness phase does not represent a decision to issue a digital euro; the ECB Governing Council can only make such a decision once the European Parliament and Council formally adopt the regulation.
I have been informed by the Central Bank that it is undertaking extensive work on Ireland’s preparedness for the potential introduction of a digital euro. As part of this work, the Central Bank maintains ongoing dialogue with critical stakeholders; including Government departments, merchant and consumer representative bodies and representatives from the Irish Banking and Financial Services sector. Ireland, similar to other euro area countries, can expect to see an increased public information campaign.
The objective of the Central Bank’s engagement is to inform, listen, and build dialogue with key stakeholders to understand impacts and opportunities, ensuring the design and potential implementation of the digital euro meets the needs and expectations of citizens.
216. Deputy Seán Ó Fearghaíl asked the Tánaiste and Minister for Finance if he will report on corporation tax receipts, to date in 2025; and if he will make a statement on the matter. [69656/25]
Amharc ar fhreagra348. Deputy Cormac Devlin asked the Tánaiste and Minister for Finance if he will report on VAT receipts to date in 2025; and if he will make a statement on the matter. [69699/25]
Amharc ar fhreagra353. Deputy Willie O'Dea asked the Tánaiste and Minister for Finance his assessment of the performance of the public finances to date in 2025; the prospects for 2026; and if he will make a statement on the matter. [69697/25]
Amharc ar fhreagra356. Deputy Seán Ó Fearghaíl asked the Tánaiste and Minister for Finance if he will report on income tax receipts, to date in 2025; and if he will make a statement on the matter. [69655/25]
Amharc ar fhreagraI propose to take Questions Nos. 216, 348, 353 and 356 together.
The November Exchequer returns showed that, at a headline level, our public finances are in reasonably good shape.
Of course, tax revenues last year were heavily distorted by the once-off proceeds arising from the Court of Justice of the European Union decision, so for clarity I will exclude those receipts from the figures.
Tax revenues of €19.9 billion were collected in the month. That is up by €3½ billion or over 20 per cent on last year.
For the year to date, receipts amounted to €97 billion, up on last year by €7.3 billion, or a little over 8 per cent. Growth has been strong across almost all revenue streams, but particularly in the largest tax heads: income tax, VAT and corporation tax.
Income tax receipts to end-November stood at €33.7 billion, up by €1½ billion or just over 4½ per cent. This is a reflection of the continued resilience in our labour market.
November was the final VAT-due month of the year, with receipts standing at €22½ billion, which is €1.1 billion, or 5 per cent, up on last year – another demonstration of the fundamental strength of our economy.
The total amount of corporation tax received in November amounted to €10 billion. To put this in context, that is around the same amount we received in an entire year in 2018, just seven years ago. For the year to date, receipts stand at €29.4 billion, up by €3.8 billion or just under 15 per cent.
In Budget 2026 my Department projected a headline Exchequer tax revenue yield of €106.3 billion this year, rising to €109.2 billion next year. This was consistent with a projected Exchequer balance on Budget Day of just shy of €1 billion this year, and a deficit of €1.8 billion next year.
The Government Expenditure Ceiling has since been raised for 2025: all else equal this would result in a lower Exchequer position than set out on Budget Day. Nonetheless the General Government position, which is a more comprehensive metric, is expected to remain in surplus in both 2025 and 2026.
Taken as a whole, the tax performance to end-November was very much in line with expectations and consistent with the revised Budget 2026 revenue projections, suggesting we remain on track to reach around €106 billion in tax receipts this year.
