Mairéad Farrell
Ceist:255. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance if he will scrap the planned increases in carbon taxes; and if he will make a statement on the matter. [26735/26]
Amharc ar fhreagraTax Code
Ceisteanna (255, 260, 263, 316)
Brendan Smith
Ceist:260. Deputy Brendan Smith asked the Tánaiste and Minister for Finance if he plans to review the excise rates on green diesel to help farmers and agri-contractors; and if he will make a statement on the matter. [26887/26]
Amharc ar fhreagra
Pa Daly
Ceist:263. Deputy Pa Daly asked the Tánaiste and Minister for Finance if he will remove excise duty on home heating oil as an emergency response to the ongoing conflict in the middle east. [26731/26]
Amharc ar fhreagra
Paula Butterly
Ceist:316. Deputy Paula Butterly asked the Tánaiste and Minister for Finance if he has considered the impact that the scheduled increase in carbon tax and current levels of excise duty are having on farm businesses; if he will consider seeking a postponement of the upcoming carbon tax rise; and if he will make a statement on the matter. [20110/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 255, 260, 263 and 316 together.
In recognition of the significant increases in energy costs owing to the conflict in the Middle East, the Government has implemented additional measures that will benefit both households and businesses.
This has been done in consultation and positive engagement with recognised stakeholder groups over the past number of weeks.
As part of these measures, Government has reduced the excise on marked gas oil (green diesel) by a further 2.4 cent (VAT inclusive), bringing the total reduction on green diesel to 7.4 cent (VAT inclusive, and including the 2 cent per litre reduction in the NORA levy). This reduction will now remain in place until 31 July 2026.
In addition, Government has deferred the planned increase in carbon tax, scheduled for 1 May, until 14 October. This will impact green diesel and other relevant fuels such as kerosene heating oil, natural gas and solid fuels. The estimated cost of delaying the carbon tax increase until 14 October is €22 million.
Green diesel is subject to a reduced MOT rate, €172.14 per 1,000 litres as of 15 April. This is significantly lower than the standard rate of €371.85 per 1,000 litres which applies to auto-diesel as of 15 April.
In addition to the reduced MOT rate on green diesel, section 664A of the Taxes Consolidation Act 1997 provides relief for expenditure relating to carbon tax on farm diesel incurred by any person carrying on a trade of farming. In computing profits of a farming trade, a farmer may claim an income tax or corporation tax deduction that is equal to the difference between the amount of carbon tax paid and the amount that would have been paid if calculated at the rate in place on 30 April 2012, i.e. €41.30 per 1,000 litres. This, in effect, keeps Carbon Tax on marked diesel fixed at a rate of just above 4 cent per litre for farmers availing of this relief. This is the rate that applied in 2012. The farmer is also entitled to claim a deduction for expenditure on the farm diesel. Further information on the carbon tax relief is available on Revenue’s website.
I am informed by Revenue that the number of claimants and the estimated tax cost of the relief for the deduction of carbon tax on farm diesel for farmers for the period 2021 to 2023 can be found on the Revenue website at https://www.revenue.ie/en/corporate/documents/statistics/tax-expenditures/costs-tax-expenditures.pdf.
Further relief is provided for heavy oil (i.e. farm diesel, kerosene and fuel oil) and liquefied petroleum gas used for qualifying purposes in horticultural production and in the cultivation of mushrooms. Such fuel is relieved from the carbon component of MOT. Where farm diesel is used for such purposes the effective MOT rate after relief is currently €20.92 per 1,000 litres. Inclusive of VAT this equates to just under 2.4 cents per litre.
Furthermore, the Minister for Agriculture, Food and the Marine has announced comprehensive €100 million Fuel Subsidy Support Scheme to assist farmers, agricultural contractors and fishers facing unprecedented increases in fuel costs. The payments will cover the months of March up to the end of July which coincides with peak fuel usage on farms.
The scheme will provide €20 million per month in supports, with funding directly linked to fuel usage last year to ensure those most impacted by the fuel price increase receive the greatest assistance.
Farmers and agricultural contractors will benefit from a support rate equivalent to approximately 20 cents per litre of MGO (marked gas oil) used based on verified fuel consumption in 2025. The funding will be distributed proportionally a point that was strongly emphasised in ongoing engagements with the representative farm and farm contractor groups.
This targeted and practical support package ensures that those most exposed to these increases will receive meaningful assistance at the most critical time of year.
With regard to Kerosene (used for heating), there is no non-carbon component of Mineral Oil Tax. The Mineral Oil Tax applying to Kerosene heating oil is fully comprised of the carbon charge (carbon tax). The carbon tax is a key component of the Government’s overall climate action policy which includes ringfencing of funds towards investment in climate action and the Just Transition.
The Government is fully aware that Kerosene prices have increased considerably. In order to protect those most at risk of fuel poverty, Government extended the fuel allowance season by four weeks which will result in payments totalling €152 to eligible households who need it the most. The cost of this measure is in the region of €70 million.
As noted, carbon tax funds are ring-fenced for expenditure on measures which will reduce our dependence on fossil fuels; such as the continuation of a national retrofitting programme, investment in community energy efficiency measures and funding for greener farming practices.
As of Budget 2026, the Government has allocated over €4.2 billion in carbon tax revenue for these purposes since 2020. ESRI analysis consistently shows the lower income deciles are better off as a result of the social protection measures funded by the increased carbon tax.
Tax Code
Ceisteanna (256)
Edward Timmins
Ceist:256. Deputy Edward Timmins asked the Tánaiste and Minister for Finance in cases where exemptions have been granted from the RZLT for farmed land, if these exemptions can be granted for more than one year; and if he will make a statement on the matter. [26899/26]
Amharc ar fhreagraFreagraí scríofa
The Residential Zoned Land Tax (RZLT) was introduced in Finance Act 2021 and first charged in 2025. It seeks to increase housing supply by encouraging the activation of residential development on lands which are suitably zoned and appropriately serviced.
It is important to note that, to come within the scope of RZLT, farmland must be both zoned for residential use and serviced. Farmland that is zoned for residential use, but which is not currently serviced is not within the scope of the tax and will only come within the scope of the tax should the land become serviced in the future.
The legislation also provides that farmland which is zoned for mixed use, including residential use, and which is integral to the operation of a farming trade carried out on or beside it, is excluded from the tax, even where such land is serviced, and should not be included on the RZLT maps prepared and published by local authorities identifying land within the scope of the tax.
There is currently an opportunity for landowners whose land appears on the revised map for 2026 published on 31 January 2026 to request the relevant local authority to change the zoning of the land, including a request to change the zoning to reflect the current economic use of the land. The application must be made between 1 February and 1 April 2026 to the relevant local authority. Where certain conditions are met, a landowner may claim an exemption from RZLT for 2026 on foot of making such a rezoning request. This claim may be made as part of the 2026 RZLT return which must be filed by 23 May 2026.
Local Authorities will consider these requests, having regard to the proposed planning and sustainable development of the area, along with any relevant Section 28 guidelines issued by the Minister for Housing, Local Government and Heritage. Landowners will be notified of the decision to proceed or not to proceed with a process to amend the land zoning by 30 June 2026.
Where the landowner's application for the rezoning of land is successful, this land will not be subject to RZLT going forward. Where the application is unsuccessful, the landowner becomes subject to RZLT in the following year. As the landowner may claim an exemption from RZLT on foot of making such a rezoning request and the local authority has made decisions on foot of those rezoning applications it is not possible to grant the exemption for more than one year.
The Deputy should also be aware that as much as possible, it is important to treat all landowners in a similar way in relation to the application of RZLT. Consequently, if we were to exempt one group of landowners such as farmers, other than in the circumstances already mentioned, whilst applying the tax to others who may have equally compelling reasons from an economic activity perspective to seek an exemption, there is a risk of a legal challenge to the legislation.
As with all taxes, RZLT is kept under regular review by officials in my Department.
Exchequer Returns
Ceisteanna (257)
Mark Ward
Ceist:257. Deputy Mark Ward asked the Tánaiste and Minister for Finance in the context of rising costs and higher prices hitting households, the surplus that the State will run in 2026; and if he will make a statement on the matter. [26739/26]
Amharc ar fhreagraFreagraí scríofa
Today, my Department published its spring forecast, which projects a General Government Balance of €9¼ billion for 2026.
Government is acutely aware of the pressures faced by households and businesses as a result of rising fuel and energy prices, and is utilising its strong financial position to provide support.
Earlier in April, Government agreed to a new package of measures worth over €500 million, on top of the €250 million package of reliefs announced in March.
Together, these packages have cut excise duty on diesel by 32 cent per litre, and 27 cent for petrol, including the reduction in the NORA levy; reduced excise duty on green diesel by 7.4 cent per litre; increased repayments under the Diesel Rebate Scheme; and extended the fuel allowance to the end of April.
Government has also agreed to delay the increase in carbon tax to later in the year, and we are also introducing support schemes for the transportation and agricultural sectors. In total, these measures represent a significant investment of financial resources to support households and businesses, and will remain in place until July 31st.
The balance forecast for 2026 incorporates the impact of these measures.
Tax Yield
Ceisteanna (258, 282, 314, 330)
Paul Lawless
Ceist:258. Deputy Paul Lawless asked the Tánaiste and Minister for Finance the amount of carbon tax, in money value, collected by the Government in each of the past ten years and to date in 2026. [26566/26]
Amharc ar fhreagraPaul Lawless
Ceist:282. Deputy Paul Lawless asked the Tánaiste and Minister for Finance the amount of tax on fuel, in money value, collected by the Government in each of the past ten years and to date in 2026, by tax-type. [26567/26]
Amharc ar fhreagra
Matt Carthy
Ceist:314. Deputy Matt Carthy asked the Tánaiste and Minister for Finance the amount raised through the carbon tax in each year 2019 to 2025; and the amount projected to be raised in each of the years 2026 to 2030. [26715/26]
Amharc ar fhreagra
Louis O'Hara
Ceist:330. Deputy Louis O'Hara asked the Tánaiste and Minister for Finance the amount of carbon tax collected for the years 2024 and 2025; and if he will make a statement on the matter. [26484/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 258, 282, 314 and 330 together.
I am advised by Revenue that the receipts collected in respect of Fuel Taxes in each of the past ten years up to 2024 are published on the Revenue website at:
https://www.revenue.ie/en/corporate/information-about-revenue/statistics/excise/receipts-volume-and-price/excise-receipts-commodity.aspx
The provisional receipts for carbon tax for 2025 and for the year to March 2026 are shown in the following table:
|
Year |
Carbon tax €m |
|
2025 |
1,176.0 |
|
2026* |
340.4 |
* Provisional to end March 2026
The Deputy has requested the amount projected to be raised through the carbon tax in each of the years up until 2030. In July 2025, 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: https://assets.gov.ie/static/documents/TSG_25-10_Energy_Environmental_and_Vehicle_Tax_UPD.pdf
As the Deputy will be aware, the Government has decided to defer the increase in carbon tax which was due to place on 1 May 2026 until 14 October 2026. The estimated cost of this deferral is approximately €22 million. The revenue projections in the Tax Strategy Group paper predate this decision.
Tax Yield
Ceisteanna (259, 295)
Sean Fleming
Ceist:259. Deputy Sean Fleming asked the Tánaiste and Minister for Finance the steps that have been taken to diversify Ireland’s corporate tax base, and to move away from a cohort of less than ten multinationals; and if he will make a statement on the matter. [26615/26]
Amharc ar fhreagra
Pádraig O'Sullivan
Ceist:295. Deputy Pádraig O'Sullivan asked the Tánaiste and Minister for Finance the assessment that has been made of the State’s increasing reliance on corporation tax receipts; the risks this poses to the sustainability of the public finances in the medium term; the steps being taken to mitigate those risks; and if he will make a statement on the matter. [26733/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 259 and 295 together.
One feature of the Irish public finances over the past decade has been the increase in corporation tax receipts.
My Department published an analytical paper in December entitled “Fiscal Vulnerabilities – Expanding costs, narrowing base” showing that corporate tax receipts in Ireland are concentrated among a small group of firms in a limited number of sectors.
While increasing tax revenues are, of course, welcome, we must always be cognisant of any growing dependence on a single revenue stream.
Acknowledging this, as part of the Government’s Medium-Term Fiscal & Structural Plan (MTP), published in December, my Department published two indicative scenarios to highlight the risks of an overreliance on corporation tax. These scenarios demonstrated the impact, relative to baseline, on the general Government balance if:
1. receipts flat-lined at 2025 levels and;
2. receipts declined to 2020 levels by the end of the forecast horizon.
In the first, more benign scenario, the fiscal position would swiftly deteriorate, returning to a budget deficit by 2028. In the second, more severe scenario an immediate deficit would open up in the public finances, growing rapidly over the rest of the decade.
Of course, this analysis makes use of simplified, indicative scenarios. In reality, a shock to the multinational sector could have even wider implications for the public finances. As shown in the Department’s Fiscal Vulnerabilities paper, there are strong sectoral inter-linkages between corporation tax and income tax revenue streams. This suggests that income tax receipts could also be vulnerable to a potential shock that could also impact the State’s corporation tax receipts.
Acknowledging this, the Government’s fiscal strategy is centred around mitigating risks. Firstly, we are continuing to target budgetary surpluses over the coming years. Secondly, we are making transfers into the State’s savings vehicles. By the end of this year, we will have transferred around €23 billion into the Future Ireland Fund and the Infrastructure, Climate and Nature Fund.
Finally, we are continuing to invest in critical infrastructure. Such investment represents a form of saving, as it will boost the productive capacity of the country, strengthen our competitive position and help to generate future tax revenue via increased economy activity.
Question No. 260 answered with Question No. 255.
Tax Data
Ceisteanna (261)
Ged Nash
Ceist:261. Deputy Ged Nash asked the Tánaiste and Minister for Finance his Department’s up-to-date estimate of the cost of the reduced rate of VAT for the hospitality sector for the remainder of 2026; the estimated full year cost for 2027; if he will review this decision in light of the rising cost of fossil fuels and given the need for additional targeted supports for households and business; and if he will make a statement on the matter. [26422/26]
Amharc ar fhreagraFreagraí scríofa
I am advised by Revenue that the cost of the reduction in the VAT rate from 13.5% to 9% for the food and catering sector, as announced in Budget 2026, and to commence from 1 July this year, is estimated at €216m for 2026 and €632m for a full year (i.e. 2027).
This measure implements a commitment in the Programme for Government to support SMEs through changes to VAT, with the hospitality sector being specifically referenced. The decision reflects the Government’s commitment to supporting employment in sectors that are highly labour-intensive and form a key part of the domestic economy. The reduction in the VAT rate to 9% is expected to support over 150,000 jobs across the country.
The Government is acutely aware of the rise in energy costs owing to the disruption of energy supplies from the ongoing conflict in the Middle East. To address this, the Government has brought forward two packages of measures at a combined cost of some €750 million. These measures include temporary reductions in fuel excises, the reduction in the NORA levy, the extension of the fuel allowance, the enhancement of the Diesel Rebate Scheme and new schemes to be established by the Department of Agriculture and Transport, respectively, to support farmers, agricultural contractors, fishers, hauliers, bus operators and others.
Tax Code
Ceisteanna (262)
Willie O'Dea
Ceist:262. Deputy Willie O'Dea asked the Tánaiste and Minister for Finance if consideration will be given to aligning the period of time in which individuals and businesses can claim for tax relief or overpayment from the Revenue Commissioners, with the period of time in which the Revenue Commissioners can seek underpayment due to error that is, four years versus six years; and if he will make a statement on the matter. [26617/26]
Amharc ar fhreagraFreagraí scríofa
I am informed by Revenue that section 865 Taxes Consolidation Act 1997 (TCA) provides a general right to repayment of tax where a person has paid tax which is not due. Section 865(4) TCA provides that that right is subject to making a claim within a statutory limit of four years after the end of the chargeable period to which the claim relates. That limit is binding on Revenue as well as on taxpayers.
Determinations of the Tax Appeals Commission in differing appellant circumstances confirm there is no discretion in the application of the four-year rule for claiming repayments.
In 2003, when section 865 TCA was introduced, Revenue’s general right to make or amend assessments was also reduced to four years. Previously, the general time limit on the making or amending of assessments by Revenue had been between six and ten years. When the four-year time limits were introduced in 2003 the then Minister for Finance stated he was satisfied that they achieved the necessary balance between establishing a fair and uniform system for taxpayers while providing necessary protection for the Exchequer. The four-year time limits now applies to both self-assessed taxpayers (known as “chargeable persons”) and PAYE taxpayers, although the limits are slightly different.
The four-year limit for Revenue to seek an underpayment of tax from persons other than chargeable persons who are not required to file a return (for example, taxpayers whose only income is subject to PAYE) runs from the end of the chargeable period to which the assessment relates. For example, for the chargeable period of 2022, a Revenue officer has, in most cases, until 31 December 2026 to make or amend that assessment
As a general rule, Revenue cannot make or amend an assessment on a chargeable person more than four years after the end of the year in which a return is delivered. For example, if a tax return for 2022 was delivered on return date of 31 October 2023 (extended to mid-November for online filers), Revenue has, in most cases, until 31 December 2027 (i.e., four-years after the return has been filed) to make or amend an assessment.
In certain limited circumstances, Revenue’s right to make or amend an assessment on a chargeable person is not time limited. These circumstances include where fraud or neglect is suspected, or where the person has not made a full and true disclosure of all material facts necessary for making an assessment, or where no return has been filed.
Question No. 263 answered with Question No. 255.
Departmental Policies
Ceisteanna (264)
Cormac Devlin
Ceist:264. Deputy Cormac Devlin asked the Tánaiste and Minister for Finance the action being taken to improve financial literacy in Ireland, particularly in terms of activity such as switching financial products including mortgages and insurance; and if he will make a statement on the matter. [26621/26]
Amharc ar fhreagraFreagraí scríofa
Ireland’s first National Financial Literacy Strategy was published in February 2025.
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.
The Department of Finance worked closely with a range of public and private sector organisations throughout the strategy’s development. This included educators, the financial services sector, civil society and Government departments and agencies. This engagement continues as the strategy is implemented.
In terms of switching of financial products, the strategy supports and promotes the work of stakeholders in this area.
The 2025 Action Plan, which was published alongside the strategy, includes actions focusing on switching financial products, including the Money Tools on the Competition and Consumer Protection (CCPC)'s website.
The CCPC's Money Tools allow consumers to compare different financial products from providers, including mortgages. The tools support first time buyers, switchers and movers to identify appropriate credit choices.
The CCPC's Money Skills for Life financial education programme, delivered to workplaces and community groups, also covers a range of topics including switching and shopping around for insurance and mortgages.
The review of the 2025 Action Plan and development of a new action plan for 2026/2027 are nearing completion.
In addition to the work ongoing through the National Financial Literacy Strategy, a key focus of the Action Plan on Insurance Reform is engagement with key stakeholders to enhance transparency, improve financial literacy, and promote affordability across all types of insurance.
In this context, the Government published the new Motor Insurance Transparency Code last month. Developed by a working group comprising insurers and intermediaries, with the support of the Department of Finance and the Central Bank of Ireland, the Code is designed to enhance trust, clarity and transparency in how motor insurance premiums are communicated to consumers.
While the Code currently applies to private motor insurance policies, insurers and intermediaries are encouraged to consider extending its principles to other insurance products.
The implementation of the Transparency Code is intended to enhance understanding of the factors that influence premiums, improve consumers’ understanding of motor insurance policies, and contribute to improved financial literacy more broadly.
Departmental Data
Ceisteanna (265)
Naoise Ó Muirí
Ceist:265. Deputy Naoise Ó Muirí asked the Tánaiste and Minister for Finance the current balance of the Future Ireland Fund and the Infrastructure, Climate and Nature Fund; the approach and timing for depositing in each fund; the purpose for which these funds will be utilised; and if he will make a statement on the matter. [26896/26]
Amharc ar fhreagraFreagraí scríofa
As the Deputy will be aware, the Future Ireland Fund (FIF) and Infrastructure, Climate and Nature Fund (ICNF) were established in 2024 following enactment of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024.
These funds have been created to assist in meeting the known future challenges particularly those linked to demographics, de-globalisation, de-carbonisation and digitalisation.
The FIF is designed to serve as a long-term investment fund to support, in a consistent and sustainable manner, State expenditure from 2041 onwards. Following an annual fiscal and economic assessment process, under the Act, 0.8% of GDP will be transferred to the FIF each year up to 2035. This will help to deal with future recognised expenditure pressures including ageing, climate, digitalisation and other fiscal and economic challenges.
The purpose of the ICNF is to support State expenditure in the event of a significant deterioration in the economic or fiscal position of the State, and in the years 2026 to 2030, to support expenditure on designated environmental projects. Up to €3.15 billion will be available to support designated environmental projects over this period.
As of 31 December 2025, the value of the FIF was approximately €12.7 billion. The value of the ICNF stood at approximately €4.1 billion on the same date.
I announced details of further transfers to each fund this year on Budget Day last year, with approximately €4.5 billion to transfer to the FIF and €2 billion to the ICNF in 2026.
Departmental Policies
Ceisteanna (266)
Naoise Ó Cearúil
Ceist:266. Deputy Naoise Ó Cearúil asked the Tánaiste and Minister for Finance if his Department has examined the potential introduction of a tax-free child savings account or trust model, similar to the junior individual savings account operating in the United Kingdom; the estimated impact such a scheme could have on long-term savings outcomes for children; and if he will make a statement on the matter. [26740/26]
Amharc ar fhreagraFreagraí scríofa
One of the aims of the Savings and Investments Union is to create better financial opportunities across the EU, providing people with more opportunities to invest and provide for their current and future prosperity. In September 2025, the European Commission adopted a Recommendation on increasing the availability of Savings and Investment Accounts (SIAs) in Member States and this included an outline of their key characteristics.
Ireland still does not have a sufficiently diversified savings and investment culture. Too much of people’s hard-earned savings remains in low-yield deposits, where inflation can erode value over time. Deposit accounts are right for many people and for many needs. But they should not be the only practical option. Investment in capital markets can offer households another path to long-term financial wellbeing, while also supporting growth and competitiveness in the wider economy.
At the recent Savings and Investment Forum, I announced the Government’s intention to introduce the legislative framework for an Investment Account in 2026. We want to make investing simpler, clearer, and more accessible for ordinary people, and help their hard-earned money work harder for them over time.
The aim is to legislate for the framework in 2026 and to allow market participants to offer accounts to the public from 2027. The aim is that the account should be designed as a one-stop option for individuals, be simple, accessible, tax efficient, easy to administer, transparent on fees and portable across borders where possible. The account will also be a key part of a broader rethink of the taxation of retail investment.
Investment accounts have been introduced in several countries inside and outside of the EU. In many of these countries, they are widely held and designed for individuals to make their first investment and enable an investment-friendly culture which spans across demographics. In terms of designing the model that best fits the Irish economy and the needs of Irish households, the views of relevant experts will be considered.
The tax treatment of retail investments was considered as part of a broader review into the funds and asset management sector in Ireland, which culminated in the ‘Funds Sector 2030’ report that was published in October 2024.
In recognition of the importance of encouraging retail investment, Budget 2026 provided for a reduction in the rate of taxation on returns from Irish and equivalent investment funds and Irish and certain foreign life assurance policies from 41% to 38% which took effect from 1 January 2026.
In addition, Budget 2026 also included a commitment to publish a roadmap in 2026, setting out the intended approach to simplify and adapt the tax framework to encourage retail investment in future Finance Bills. The roadmap, which will be published in the coming months, will take into consideration developments at EU level in respect of the Savings and Investments Union, including the Recommendation on SIAs and continue to draw upon best practice in other countries who operate successful savings accounts.
Tax Code
Ceisteanna (267)
Peadar Tóibín
Ceist:267. Deputy Peadar Tóibín asked the Tánaiste and Minister for Finance if he has conducted an impact assessment on a proposed 0% VAT rate for construction materials to lower the cost of building new homes; his views on whether such a measure would more effectively stimulate supply than the current 9% VAT rate applied only to completed apartments; the estimated cost to the Exchequer of zero-rating these materials for the duration of the current Dáil term; and if he will make a statement on the matter. [17811/26]
Amharc ar fhreagraFreagraí scríofa
As the Deputy may be aware, under the EU VAT Directive, which Irish VAT law must comply, the VAT rate applied to goods and services must be the standard rate unless they are listed under Annex III of the Directive which allows for a reduced rate of VAT. Construction products and materials are not included in Annex III of the Directive so no reduced rate can be applied to them.
Ireland currently applies the standard rate of VAT of 23% to all construction materials with the exception of ready to pour concrete and concrete blocks per Paragraphs 16(1) and 16 (2) in Schedule 3 of the Value-Added Tax Consolidation Act 2010. By way of a derogation in the Directive, which allows member states to maintain historic VAT treatment for certain goods and services, Ireland applies a 13.5% rate to certain concrete blocks and ready to pour concrete. In applying this rate, there is a condition that these rates are "parked" and must not be lowered below 12%.
Departmental Strategies
Ceisteanna (268)
Cathal Crowe
Ceist:268. Deputy Cathal Crowe asked the Tánaiste and Minister for Finance to provide an update on the development and publication of Ireland for Finance; and if he will make a statement on the matter. [26609/26]
Amharc ar fhreagraFreagraí scríofa
Ireland for Finance is a whole-of-Government strategy for the development of the international financial services sector in Ireland. In line with Programme for Government commitments, the Department of Finance is preparing a new Ireland for Finance Strategy for the period 2026-2030.
Significant engagement and consultation is informing this work. A public consultation held in 2025 received 57 written submissions. This has been supplemented by significant input from a wide range of bilateral, national and international stakeholder engagements, including the standing quarterly Ireland for Finance Joint Committee forum.
While the new Ireland for Finance Strategy is still under development, the focus will be on maintaining and enhancing Ireland’s reputation as a global hub for financial services. Once the strategy has been finalised and subsequently approved by Government it will then be published. While no date has been set for publication, it is currently anticipated to happen before end of June 2026.
Banking Sector
Ceisteanna (269, 292)
Naoise Ó Cearúil
Ceist:269. Deputy Naoise Ó Cearúil asked the Tánaiste and Minister for Finance if his Department has examined the capacity of the domestic banking sector to support the proposed new savings scheme, in light of reports that only a limited proportion of existing household deposits may be available for participation; the engagement to date between his Department and the retail banking sector regarding the proposed new savings scheme; and if he will make a statement on the matter. [26741/26]
Amharc ar fhreagraCathal Crowe
Ceist:292. Deputy Cathal Crowe asked the Tánaiste and Minister for Finance if an exodus of funds from deposit accounts to a personal investment account will have a negative impact on other products; and if he will make a statement on the matter. [26608/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 269 and 292 together.
One of the aims of the Savings and Investments Union is to create better financial opportunities across the EU, providing people with more opportunities to invest and provide for their current and future prosperity. In September 2025, the European Commission adopted a Recommendation on increasing the availability of Savings and Investment Accounts (SIAs) in Member States and this included an outline of their key characteristics.
Ireland still does not have a sufficiently diversified savings and investment culture. As evidenced, too much of people’s hard-earned savings remains in low-yield deposits, where inflation can erode value over time. Deposit accounts are right for many people and for many needs. But they should not be the only practical option. Investment in capital markets can offer households another path to long-term financial wellbeing, while also supporting growth and competitiveness in the wider economy.
The ‘Funds Sector 2030’ report made a number of recommendations which were aimed at enabling greater retail investment in Ireland. This included the establishment of an annual ‘Savings and Investment Forum’ which was convened for the first time on 31 March 2026 and led by the Department of Finance with support from the Central Bank of Ireland and the Competition and Consumer Protection Commission.
The attendees were a mix of retail and digital banks, asset managers, wealth managers, financial planners, as well as Government and regulatory officials and it provided the opportunity to discuss the current investment landscape in Ireland. The Department will continue to engage closely with interested stakeholders as the legislative process continues.
At the Forum, I announced the Government’s intention to introduce the legislative framework for an Investment Account in 2026. We want to make investing simpler, clearer, and more accessible for ordinary people, and help their hard-earned money work harder for them over time.
The aim is to legislate for the framework in 2026 and to allow market participants to offer accounts from 2027. The aim is that the account should be designed as a one-stop option for individuals, be simple, accessible, tax efficient, easy to administer, transparent on fees and portable across borders where possible. The account will also be a key part of a broader rethink of the taxation of retail investment.
The introduction of a savings and investment framework is not intended to seek a mass-movement of deposits from individual deposit accounts, or to disturb existing forms of retirement savings,?but instead see a gradual development of an investment culture amongst retail participators.?
In terms of designing the model that best fits the Irish economy and the needs of Irish households, the views of relevant experts are being considered as well as learnings from best international practices.
Tax Code
Ceisteanna (270)
Joe Neville
Ceist:270. Deputy Joe Neville asked the Tánaiste and Minister for Finance his views on the impact that the new derelict property tax will have on housing numbers; the benefits that will be seen; and if he will make a statement on the matter. [26146/26]
Amharc ar fhreagraFreagraí scríofa
In Budget 2026, it was announced that a new Derelict Property Tax (DPT) would be introduced. The aim of this tax is to encourage the activation of derelict properties and sites. It will replace the Derelict Sites Levy and will be collected by the Revenue Commissioners.
I intend to legislate for DPT as part of Finance Bill 2026. This is dependent on engagement from stakeholders and will also be influenced by any advice I receive from the Attorney General.
In order for the tax to be effective, it must apply in a consistent manner to all residential properties that are derelict. Local authorities need time and resources to identify properties in their areas so that preliminary registers of dereliction can be published in 2027. The DPT will be implemented as soon as possible after the preliminary registers are published.
Officials in my Department are engaging on an ongoing basis with Revenue and the Department of Housing, Local Government and Heritage on the design of this new tax. The impact that DPT will have on housing numbers will depend how this tax is ultimately designed, how many derelict properties are identified by local authorities next year and how owners choose to respond.
Once the Derelict Property Tax is operational, I am confident that many owners of derelict properties will be incentivised to take action to bring these homes back into use and ultimately contribute to our housing stock. The behavioural effect of the tax will also contribute to regeneration and development, breathing new life into our villages, towns and cities.
Tax Code
Ceisteanna (271)
Grace Boland
Ceist:271. Deputy Grace Boland asked the Tánaiste and Minister for Finance whether his Department has carried out any assessment of increasing the standard rate cut-off point for income tax to €50,000; the estimated full year cost to the Exchequer of such a change; the distributional impact across income groups; the analysis undertaken regarding the potential labour market or economic impacts of such a measure; and if he will make a statement on the matter. [25769/26]
Amharc ar fhreagraFreagraí scríofa
As the Deputy will be aware, the Programme for Government (PfG) commits to “implementing progressive changes in taxation if the economy remains strong, including indexing credits and bands to prevent an increase in the real burden of Income Tax. While in the event of an economic downturn and unexpected deterioration in the public finance we would postpone changes to Income Tax credits or bands, as we did in Budget 2021”.
I am advised by Revenue that the estimated first and full year cost to the Exchequer in 2026 of the Deputy's proposal are €1,270m and €1,455m respectively. This is the cost associated with an increase the personal income standard rate cut-off point from €44,000 to €50,000 per annum, and commensurate adjustments made for all other taxpayer categories.
It should be noted that these figures are based on 2026 estimates from the Revenue tax forecasting model using latest actual data for the year 2023, adjusted as necessary for income, self-employment, and employment trends in the interim.
I am further advised by Revenue that a breakdown of the estimated number of taxpayer units who would benefit from this proposal by personal status can be found in the below table.
|
Status |
Number* |
|
Single |
561,300 |
|
Married couple – both earning |
315,900 |
|
Married couple – one earning |
141,600 |
|
Widowed |
38,200 |
|
All |
1,056,900 |
*figures are rounded to the nearest hundred.
A taxpayer unit refers to individuals except in the case of couples who are jointly assessed, in which case the couple are counted as one taxpayer unit.
In terms of a distributional impact across income groups, the table below provides information on the number of gainers broken down by income range. It should be noted that the income breakdown relates to gross income rather than taxable income, and includes all taxpayers types, including those who are jointly assessed couples who both have an income source.
|
Range of Gross Income € |
Number of Taxpayer Units Benefitting |
|
0 - 40,000 |
0 |
|
40,000 - 50,000 |
120,900 |
|
50,000 - 60,000 |
178,800 |
|
60,000 - 70,000 |
137,100 |
|
70,000 - 80,000 |
100,000 |
|
80,000 - 90,000 |
68,700 |
|
90,000 - 100,000 |
54,600 |
|
100,000 + |
396,900 |
|
All |
1,056,900 |
My Department publishes regular updates in relation to indexation of the income tax system. In recent years, information on the indexation of standard rate bands and tax credits has been included in the annual Income Tax – Tax Strategy Group paper. Most recently the Budget 2026 Income Tax – Tax Strategy Group paper sets out information relating to indexing the income tax system, including the estimated costs to the Exchequer.
In addition, costs are also provided in relation to the adjustment of income tax standard rate bands, credits and rates and USC rates and thresholds. The costs used in these publications are based on Revenue Ready Reckoner publications.
Tax Code
Ceisteanna (272)
Emer Currie
Ceist:272. Deputy Emer Currie asked the Tánaiste and Minister for Finance if he will consider amendments to the Tax Consolidation Acts to facilitate changes to the TaxSaver scheme, including an extension to other modes of sustainable travel, such as shared mobility, and to move from a 'travel pass' basis to more flexible digital models, in a bid to address the alarming fall-off in the number of commuters availing of TaxSaver. [21062/26]
Amharc ar fhreagraFreagraí scríofa
As the Deputy will be aware, section 118(5A) of the Taxes Consolidation Act 1997 (TCA) provides for the TaxSaver scheme. The scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a travel pass for one of their employees or directors, subject to certain conditionality.
Under section 118B TCA, an employer and employee may also enter into a Revenue-approved salary sacrifice arrangement under which the employee agrees to sacrifice part of his or her salary in exchange for the benefit.
Where a travel pass is purchased, under the BIK scheme, or through a salary sacrifice arrangement, certain conditions must be met, for example:
• the cost incurred must relate to a monthly or annual bus, railway or ferry travel pass;
• the travel pass must be issued by or on behalf of one or more approved transport providers; and
• the approved transport provider must be contracted or licensed to provide the transport services covered by the travel pass.
While the conditionality around the BIK exemption for the TaxSaver scheme falls under an Tánaiste's remit, as Minister for Finance, the scope and conditions of the travel passes on offer are a matter for the individual transport providers.
It will be of interest to the Deputy that in respect of the day-to-day operations of public transport, including TaxSaver ticket offerings, it is the National Transport Authority which has responsibility for the regulation of fares charged to passengers in respect of public transport services provided under Public Service Obligation contracts.
As with all tax policy measures, the TaxSaver scheme is kept under review by Department of Finance officials. It is particularly important in considering proposals in respect of tax expenditures that the Government be mindful of the public finances and the many demands on the Exchequer. The expansion of any scheme creates a cost, and that cost must be recovered elsewhere.
However, at present, there is no specific requirement to amend the tax legislation in respect of this scheme but due consideration will be given to any proposals received as part of the pre-Budget submission process.
Question No. 273 answered with Question No. 248.
State Savings Schemes
Ceisteanna (274, 317)
Catherine Ardagh
Ceist:274. Deputy Catherine Ardagh asked the Tánaiste and Minister for Finance the plans to ensure that persons are fully informed in relation to investment products, in line with the development of a personal investment account; and if he will make a statement on the matter. [26610/26]
Amharc ar fhreagra
Peter 'Chap' Cleere
Ceist:317. Deputy Peter 'Chap' Cleere asked the Tánaiste and Minister for Finance if investment advice will be offered as part of the personal investment account; and if he will make a statement on the matter. [26612/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 274 and 317 together.
One of the aims of the Savings and Investments Union is to create better financial opportunities across the EU, providing people with more opportunities to invest and provide for their current and future prosperity. In September 2025, the European Commission adopted a recommendation on increasing the availability of Savings and Investment Accounts (SIAs) in Member States and this included an outline of their key characteristics.
At the recent Savings and Investment Forum, I announced the Government’s intention to introduce the legislative framework for an Investment Account in 2026. We want to make investing simpler, clearer, and more accessible for ordinary people, and help their hard-earned money work harder for them over time.
The aim is to legislate for the framework in 2026 and to allow accounts to be offered from 2027. The account will be designed as a simple, one-stop option for individuals. It will also be a key part of a broader rethink of the taxation of retail investment. The Government’s view that the account should be simple, accessible, tax efficient, easy to administer, transparent on fees and portable across borders where possible.
The issue of financial advice is a key one. Investors have different levels of financial literacy and expertise, and different investment objectives and risk appetites. In terms of designing the model that best fits the Irish economy and the needs of Irish households, the views of relevant experts are being considered as well as learnings from best international practices.
At the Forum, I also announced the launch of an Invitation for Expressions of Interest for the role of financial literacy ambassador for Ireland.
An ambassador will work closely with my department to support the National Financial Literacy Strategy and will also take part in an EU network of financial literacy ambassadors.
We need to improve levels of financial literacy in Ireland and support Irish people’s financial resilience and wellbeing. We need to empower people to make good financial decisions, including investing. I am looking forward to hearing from those passionate about and eager to lead on financial literacy in Ireland and across Europe.
Tax Code
Ceisteanna (275)
John Lahart
Ceist:275. Deputy John Lahart asked the Tánaiste and Minister for Finance the estimated cost/value of tax reliefs on electric vehicles in 2023, 2024 and 2025; and if he will make a statement on the matter. [26558/26]
Amharc ar fhreagraFreagraí scríofa
I am advised by Revenue that the current VRT rates for Category A electric vehicles (EVs) is 7%. EVs with an Open Market Selling Price (OMSP) of up to €40,000 are granted VRT relief of up to €5,000 while EVs with an OMSP of greater than €40,000 but less than €50,000 receive a reduced level of VRT relief. EVs above €50,000 are not eligible for VRT relief.
Using VRT data from 2023 to 2025 on category A registrations, the table below provides the value of EV VRT tax reliefs.
|
Year of registration |
Category |
New/Used |
Tax reliefs (€m) |
|
2023 |
A |
New |
-22.4 |
|
2023 |
A |
Used |
-2.7 |
|
Total Relief 2023 |
|
|
-25.1 |
|
2024 |
A |
New |
-22.9 |
|
2024 |
A |
Used |
-2.4 |
|
Total Relief 2024 |
|
|
-25.3 |
|
2025 |
A |
New |
-34.7 |
|
2025 |
A |
Used |
-6.7 |
|
Total Relief 2025 |
|
|
-41.4 |
Tax Code
Ceisteanna (276, 328)
Ken O'Flynn
Ceist:276. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance whether he accepts that the deemed disposal regime, by imposing a unique and internationally anomalous tax burden on EU-regulated Exchange Traded Fund products, does not prevent tax avoidance by retail investors but instead redirects Irish household savings away from EU-regulated diversified products and into less transparent, less regulated, or less diversified alternatives; and if he will make a statement on the matter. [17639/26]
Amharc ar fhreagraKen O'Flynn
Ceist:328. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance whether he will commit to abolishing or fundamentally reforming the deemed disposal regime as it applies to Exchange Traded Funds held by individual retail investors; if not, to set out clearly the specific policy rationale for retaining a taxation mechanism that has no equivalent in any comparable EU jurisdiction, that taxes unrealised gains, that prohibits loss relief, that applies a rate exceeding the standard capital gains tax rate, and that demonstrably redirects Irish household savings away from diversified EU-regulated products; and if he will make a statement on the matter. [17660/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 276 and 328 together.
Under the gross roll-up regime, introduced in Finance Act 2000, investments are allowed to grow on a tax-free basis within the relevant fund or policy. Tax is generally payable only when there is a chargeable event. Finance Act 2006 introduced deemed disposal for all investments that benefit from the gross roll-up regime. This amendment was designed specifically to prevent the avoidance of tax by way of indefinite deferral of tax under the gross roll-up regime.
Data on the volume of retail investment that may have been diverted away from EU-domiciled Exchange Traded Funds (ETFs) and into non-EU domiciled funds, direct equity shareholdings, or other asset classes specifically to avoid the deemed disposal regime is not available.
I acknowledge the complexities associated with deemed disposal, but as articulated in the Funds Review report, changes to these rules require guardrails to protect the Exchequer and ensure that appropriate taxation is paid. A balance between supporting retail investment while retaining important and necessary anti-avoidance protections, taking account of potential Exchequer impacts is required. This is being considered as part of the work underway on the roadmap for the taxation of retail investment, which is also considering the recent Recommendation on Savings and Investment Accounts from the European Commission. The roadmap, which will set out the proposed next steps for the taxation of retail investment, will be published in the coming months.
Tax Code
Ceisteanna (277, 281, 309)
John Connolly
Ceist:277. Deputy John Connolly asked the Tánaiste and Minister for Finance if he has further plans to review the excise rates on fuel following the recent spike in prices; and if he will make a statement on the matter. [26555/26]
Amharc ar fhreagra
Joe Cooney
Ceist:281. Deputy Joe Cooney asked the Tánaiste and Minister for Finance to outline all discretionary measures his Department could take to reduce Government taxes on petrol, diesel and kerosene; and the maximum taxation reduction possible on these fuels under current legislation; and if he will make a statement on the matter. [26598/26]
Amharc ar fhreagraLouis O'Hara
Ceist:309. Deputy Louis O'Hara asked the Tánaiste and Minister for Finance the measures his Department will take to address rising fuel costs; and if he will make a statement on the matter. [26485/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 277, 281 and 309 together.
The Government recognises and understands the pressures on all families and businesses that have arisen due to rising fuel costs as a result of the conflict in the Middle East
In recognition of this fact, on 14 April the Government announced additional measures to those previously announced on 24 March that will benefit both households and businesses. This was done in consultation and positive engagement with recognised stakeholder groups over the past number of weeks.
Last week, I introduced a second package of measures that included further reductions in the rates of Mineral Oil Tax (MOT) which, inclusive of VAT, will reduce the costs on auto-diesel and petrol by 10 cents per litres, and MGO/green diesel by 2.4 cents per litre. Together with the MOT reductions implemented from 25 March, and the reduction of the NORA Levy to €0.001, this will bring VAT inclusive reduction on auto-diesel, petrol and MGO to 32, 27 and 7.4 cents per litre respectively.
The total cost of the excise reduction measures is in the region of €410 million, inclusive of VAT.
These excise reduction measures and the previously announced reduction of the NORA levy, implemented by the Minister for Climate, Energy and the Environment, will remain in place until 31 July 2026.
In addition, I have also deferred the planned increase in carbon tax, scheduled for 1 May, until 14 October. This will impact green diesel and non-propellant fuels such as kerosene heating oil, natural gas and solid fuels. The estimated cost of delaying the carbon tax increase on home heating fuels/MGO until 14 October is €22 million.
The package is a significant response to real pressures being felt here and globally and will directly help people impacted by this unprecedented global crisis in energy supply resulting from the war in the Middle-East.
Policy options in regard to support measures must have due regard to EU legislative frameworks. With regard to financial support measures to ease energy price inflation this framework includes the EU Energy Tax Directive (ETD), the EU VAT Directive and the General Block Exemption Regulation (GBER) which governs State Aid measures.
Energy taxation in Ireland is governed by the ETD, which sets out excise duty rules covering all energy products in the EU used for heating and transport, as well as electricity. The Directive sets out minimum levels of taxation applicable to these energy products for specific fuel uses.
Further information on ETD minimum rates and the legislation governing the taxation of fuel in the EU is available on the European Union website at the link provided: https://eur-lex.europa.eu/eli/dir/2003/96/oj/eng
As regards the EU VAT Directive, this provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a lower rate of VAT. Motor fuels, such as petrol and auto-diesel, are not included in the categories of goods and services on which the EU Directive allows a lower rate of VAT or an exemption to be applied, and so they are liable to VAT at the standard rate, currently 23%.
EU State Aid rules as set out in the GBER must also be observed as regards targeted supports for industry.
Tax Code
Ceisteanna (278, 318, 319, 329)
Brian Brennan
Ceist:278. Deputy Brian Brennan asked the Tánaiste and Minister for Finance the further measures he is considering to support sectors that are struggling with the current fuel crisis, in particular the agricultural sector, haulage and private bus operators; and if he will make a statement on the matter. [26753/26]
Amharc ar fhreagraPádraig O'Sullivan
Ceist:318. Deputy Pádraig O'Sullivan asked the Tánaiste and Minister for Finance the immediate tax or fiscal measures being considered to alleviate ongoing cost-of-living pressures on low and middle-income households, particularly in light of rising energy, food and housing costs; and if he will make a statement on the matter. [26732/26]
Amharc ar fhreagraMairéad Farrell
Ceist:319. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance for an update on the work being undertaken by his Department to reduce the cost of fuel; and if he will make a statement on the matter. [26734/26]
Amharc ar fhreagra
Darren O'Rourke
Ceist:329. Deputy Darren O'Rourke asked the Tánaiste and Minister for Finance the measures he plans to take to address the runaway cost of fuel; and if he will make a statement on the matter. [26841/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 278, 318, 319 and 329 together.
I am acutely conscious of the impact rising energy prices are having on households and businesses.
In response to this, Government has introduced two packages of supports worth over €750 million that will help to mitigate the impact of rising energy costs.
The measures introduced in these packages include reducing the excise duty and NORA levy on fuel. This brings the total reduction on diesel to 32 cent per litre, 27 cent per litre for petrol and 7.4 cent per litre for green diesel. The Fuel Allowance scheme was also extended by an additional four weeks and the maximum repayment allowable under the Diesel Rebate Scheme was increased.
Government also agreed to delay the scheduled increase in carbon tax until later in the year and will introduce support schemes for key sectors of the economy. The Road Transporters Support Scheme will provide direct payments to haulage and coach operators, while the Fuel Subsidy Support Scheme will assist farmers, agricultural contractors and fishers.
These temporary measures will benefit households and businesses and are in addition to the permanent supports that were introduced in Budget 2026, such as the reduced rate of VAT on gas and electricity.
Government has responded swiftly to immediate pressures in the economy. However, these supports are timebound and will be continuously reassessed as the situation evolves over the coming weeks and months.
It is because of this Government’s record of solid budgetary management that we now have the fiscal capacity to respond to external shocks.
This further highlights the importance in adhering to a sensible and sustainable budgetary policy. That is why we are targeting budgetary surpluses over the medium term, and setting aside a portion of windfall tax into our two long-term savings funds.
Fuel Prices
Ceisteanna (279, 302)
Ruairí Ó Murchú
Ceist:279. Deputy Ruairí Ó Murchú asked the Tánaiste and Minister for Finance the work being undertaken to reduce the cost of fuel, including home heating oil, green diesel and petrol; the interaction there has been between his department and the EU Commission on this issue; and if he will make a statement on the matter. [26726/26]
Amharc ar fhreagra
Pearse Doherty
Ceist:302. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance if he will propose that the EU as part of its energy response toolbox suspends minimum excise duty levels on fuel to ensure member states have maximum flexibility in determining their own response to the energy crisis; and if he will make a statement on the matter. [26931/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 279 and 302 together.
The Irish Government is coordinating closely with the EU, as well as with colleagues across the national system and across the world, in the wake of the ongoing energy crisis.
At the Eurogroup meetings in March, I met with other EU Finance Ministers to discuss the energy price shock and the measures Member States were implementing in response. Member States are in firm agreement on the need to stay coordinated in our policy action and to continue to jointly monitor the situation as it develops. The Minister for Climate, Energy and Environment is also engaging with his EU colleagues in this regard.
At the European Council in March, I joined EU leaders in calling for the European Commission to develop a toolbox of targeted and temporary measures which Member States can draw upon.
The Government is open to EU proposals which will address the impact of the energy crisis on electricity markets in a coherent and proportionate way, having regard to the lessons learned from the 2022-2023 energy crises.
Furthermore, due to the exceptional circumstances resulting from the conflict in the Middle East, my officials are engaging with the EU Commission in relation to the Energy Taxation Directive.
At national level, we have introduced two targeted packages of measures aimed at mitigating the impact of the rise in energy prices. These are the most comprehensive supports of any Member State on a per capita basis. These actions will go some way to help alleviate the strain of increased costs for Irish households and businesses.