Paschal Donohoe
Dublin Central · Ireland
“I raise the importance of our economy and funding of public services, and a particularly vital public service referenced in the programme for Government. I do so from the seat in Dáil Éireann that I first pursued and held in 2011.”
“I am proud of the investment we have made through our local authorities in recent years in the funding, and opening, of new libraries. They are cradles of decency. They are beacons of light in a world in which things are changing so much.”
“I thank my own team, who have worked so closely with me over so many years to allow me to do my work as a Minister and a representative of Dublin Central. I acknowledge that this is a complex and tough week for them, and I thank them for all they have done for me to allow me to do the work I have been trusted and privileged to do.”
“I thank the Leas-Cheann Comhairle for his support in the many committees I have appeared in front of that he has chaired and the relentless but always fair way in which he has discharged his duties. I wish everybody in this Dáil happiness, health and success in representing their constituents.”
“31 of 1999), which provides for a stamp duty to be levied on health insurance contracts that are entered into or renewed between authorised insurers and their customers in each quarter, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 19.”
“39 of 1997), which provides for tax exemptions for a unit trust which neither is, nor is deemed to be, an authorised unit trust scheme, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 7. THAT section 291A of the Taxes Consolidation Act 1997 (No.”
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“I thank the Leas-Cheann Comhairle for his support in the many committees I have appeared in front of that he has chaired and the relentless but always fair way in which he has discharged his duties. I wish everybody in this Dáil happiness, health and success in representing their constituents.”
“I am proud of the investment we have made through our local authorities in recent years in the funding, and opening, of new libraries. They are cradles of decency. They are beacons of light in a world in which things are changing so much. We should be proud that we are in a country that values them, invests in them, that recognises the value of reading and that recognises the value of a place that offers both solitude and community at the same time. I ask the Tánaiste that the reaffirms the support of the Government to continue this investment and in his time, and in the many budgets that await under this Government, that he and his colleagues continue to prioritise that, and prioritise this vital public service upon which so much depends.”
“I thank my own team, who have worked so closely with me over so many years to allow me to do my work as a Minister and a representative of Dublin Central. I acknowledge that this is a complex and tough week for them, and I thank them for all they have done for me to allow me to do the work I have been trusted and privileged to do. The particular matter I want to raise is the relationship between our economy and public services. I am confident and certain that whatever progress we have made in recent years in our economy, which I believe is real, will only be built on and further improved by the Tánaiste as Minister for Finance. As he is doing that, I ask that he keep one public service in particular in mind and that is our libraries.”
“I raise the importance of our economy and funding of public services, and a particularly vital public service referenced in the programme for Government. I do so from the seat in Dáil Éireann that I first pursued and held in 2011. While doing so, I offer some words of acknowledgement and thanks to those who have allowed me to be here and to discharge my duties. I thank the many communities of Dublin Central for their support, kindness and respect over many years and say to them how proud I was to represent them. I thank all of the staff at the finance and budgetary oversight committees and here who make this more than just a place to work. They make it a Parliament that we are proud to serve in. I thank them again for their support and courtesy during my tenure here.”
“THAT section 100 of the Finance Act 1999, which provides for mineral oil tax reliefs for certain fuels, and qualifying uses, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.”
“39 of 1997), which deals with the date of payment of tax for amended assessments, be amended in the manner and to the extent specified in the Act giving effect to this resolution, to clarify that where an assessment is amended more than once, the date for payment of tax arising from a second or subsequent amended assessment is determined in isolation from the due date for tax arising from the first amended assessment. 25. THAT the provisions contained in section 840A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for a restriction on the deductibility of interest on loans for certain purposes, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 26.”
“THAT section 959AA of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relates to time limits on assessments made or amended by a Revenue officer on chargeable persons, be amended in the manner and to the extent specified in the Act giving effect to this resolution, to provide that a Revenue officer may make or amend an assessment on a chargeable person outside the normal four-year period to give effect to a Mutual Agreement Procedure reached under a limited scope treaty which is given the force of law by virtue of section 826(1B) of the Taxes Consolidation Act 1997. 24. THAT Section 959AU of the Taxes Consolidation Act 1997 (No.”
“21. THAT the provisions contained in Part 4A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the implementation of Council Directive (EU) 2022/2523 of 15 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 22. THAT the provisions contained in section 638A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the liabilities and obligations of, and the requirement of things to be done by, a successor company in relation to a merger or division pursuant to the Companies Act 2014, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 23.”
“31 of 1999), which provides for a stamp duty to be levied on health insurance contracts that are entered into or renewed between authorised insurers and their customers in each quarter, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 19. THAT section 41 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which contains provisions relating to gifts and inheritances of life assurance policies, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 20. THAT the Taxes Consolidation Act 1997 (No. 39 of 1997) be amended by the amendment of section 811C(4)(a) to provide that a tax advantage arising from a tax avoidance transaction can be withdrawn in the manner and to the extent specified in the Act giving effect to this Resolution.”
“31 of 2010), which relates to waiver of exemption under old rules, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 16. THAT Part 7 of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for exemptions and reliefs from Stamp Duty to apply in certain circumstances, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 17. THAT section 126AB of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999) be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for a stamp duty to be levied on certain financial institutions. 18. THAT section 125A of the Stamp Duties Consolidation Act 1999 (No.”
“THAT section 82 of Finance Act 2010, which provides for relief from solid fuel carbon tax on solid fuels used for certain purposes, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 13. THAT section 6 of the Value-Added Tax Consolidation Act 2010 (No. 31 of 2010) which relates to persons not accountable persons unless they so elect be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 14. THAT Schedule 3 to the Value-Added Tax Consolidation Act 2010 (No. 31 of 2010), which relates to goods and services chargeable at the reduced rate of value-added tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 15. THAT Section 96 to the Value-Added Tax Consolidation Act 2010 (No.”
“39 of 1997), which contains provisions in relation to relief for investment in digital games, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 10. THAT section 891H of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains provisions in relation to country-by-country reporting, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 11. THAT section 71 of Finance Act 2010, which provides for relief from natural gas carbon tax on natural gas used for certain purposes, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 12.”
“39 of 1997), which provides for tax exemptions for a unit trust which neither is, nor is deemed to be, an authorised unit trust scheme, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 7. THAT section 291A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides relief from corporation tax for capital expenditure incurred on specified intangible assets, be amended in the manner and to the extent specified in the Act giving rise to this Resolution. 8. THAT section 400 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains provisions for the corporation tax treatment of certain company reconstructions, be amended in the manner and to the extent specified in the Act giving rise to this Resolution. 9. THAT Section 481A of the Taxes Consolidation Act 1997 (No.”
“THAT section 16 of the Finance Bill, which relates to section 15 of the Finance Act 2024, through which a number of necessary auxiliary amendments consequential to the insertion of Chapter 2E into the Taxes Consolidation Act 1997 (No. 39 of 1997) were inserted, is repealed, in the manner and to the extent specified in the Act giving effect to this Resolution. 5. THAT the Taxes Consolidation Act 1997 (No. 39 of 1997) be amended by the insertion of a new Section 1009A to provide that foreign body corporates which are substantially similar to partnerships formed under the law of the State and their members shall be chargeable to tax in the manner and to the extent specified in the Act giving effect to this Resolution. 6. THAT section 731 of the Taxes Consolidation Act 1997 (No.”
“THAT section 14 of the Finance Bill, which relates to section 14 of the Finance Act 2024 through which the taxation measures for the Automatic Enrolment Retirement Savings System into the Taxes Consolidation Act 1997 (No. 39 of 1997) were inserted, is repealed, in the manner and to the extent specified in the Act giving effect to this Resolution. 3. THAT Part 30 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relates to Occupational Pension Schemes, Retirement Annuities, Purchased Life Annuities and Certain Pensions be amended to provide for the tax treatment of the Automatic Enrolment Retirement Savings System, including the taxation of payments from the scheme, in the manner and to the extent specified in the Act giving effect to this Resolution. 4.”
“I move: 1. THAT section 531AM of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the main charging provisions for Universal Social Charge (USC), be amended in the manner and to the extent specified in the Act giving effect to this Resolution, to include a reference to Section 847AA which provides for a scheme of tax relief for donations to certain National Governing Bodies (NGB) where the donations are used to fund certain projects. The amendment provides that a donation to an NGB is not deducted when calculating an individual’s USC liability. This follows similar treatment for donations under section 847A TCA (donations to certain sports bodies) and section 848A TCA (donations to approved bodies), whereby such donations are exempt from Income Tax but are not exempt from USC. 2.”
“It would be a very significant measure. I made other changes to support investment and reduce some of the taxes that people pay in that area. Overall, how we support investment and savings in our economy is an important area that we need to do more on in the time ahead. That is a quick overview of the different matters raised. I look forward to dealing with them in more detail on Committee Stage.”
“The hospitality sector continues to be very important in our economy and how we can better support that sector in the future is important at a time when we will bring forward measures to support larger employers. With regard to larger employers, the research and development tax credit is being approved in order to support innovation in our economy. In turn, that innovation is at the heart of how we can keep the jobs we have in larger employers and create more. That is the final reason I am making changes with regard to the special assignee relief programme, SARP. I was interested to hear a number of Deputies raise issues regarding deemed disposal and ETFs. It is welcome to hear an issue like this being debated in the Dáil. I did not make a further change on deemed disposal because of the cost involved.”
“On the other hand, I heard some Deputies say we should exclude businesses of a certain size and heard particular businesses mentioned as an example of that. VAT law does not allow for the exclusion of businesses based on turnover and the vast majority of businesses in the hospitality sector in our country are small or medium sized. A small number of businesses are large. Some of the businesses quoted during the debate exist on the base of franchises and, therefore, are run by people in their communities. All of these businesses employ people whose jobs I am trying to protect and sustain in the time ahead. There are 150,000 such employees.”
“That would breach the principle of fiscal neutrality upon which our tax code is structured. I heard a number of colleagues raise the point regarding the application of this VAT measure with regard to approved housing bodies. At the start of this debate, I acknowledged this was an issue and that, as I consider Committee Stage, I would examine whether there were amendments or changes that were possible as regards that particular matter. With regard to VAT on hospitality, I heard a number of different views. Some Deputies want the change to happen more quickly. It would not be possible to do that and still deliver a budget of the overall size I believe gives us some prospect of the budget being safe and consistent with the framework we published earlier in the year. Bringing it forward in the summer tries to get the balance right.”
“Charges have been made here that this is about supporting big developers and it is about adding to profitability. The only reason I am bringing forward this measure is to lead to more homes being built and to try to improve the viability challenge that is most acute around the delivery of apartments. I heard some calls here this evening and some points being made regarding the degree to which this benefits apartments that have already been built. I accept that is a consequence of how this measure has been brought forward. However, it is not possible to have a tax that is consumption based, that is, paid at the point the transaction or purchase happens, and at the same time say we will have a different tax depending on when an apartment is commenced. We cannot do both.”
“Regarding the living city initiative, I heard a number of different views on it this evening asking why I expanded it to five different cities and why I did not expand it into other towns, villages and cities across our country. The reason for that is because of the national planning framework. I have now extended it to the next layer of cities where this is seen as being important for their further development, the further economic development of our country and the delivery of more homes. I am trying to ensure that the development of the living city initiative happens in a way that is consistent with our overall national planning framework. With regard to the VAT reduction on apartments, the only reason I am bringing forward this measure is to allow more homes to be built.”
“However, if we are going to have the ability to continue to help budget by budget and to continue to put in place measures that are permanent, that we can afford and that we can sustain, our budgets overall need to be of a certain size and need to involve us making choices within that. That is the case I have made in bringing forward this budget, and it is the case I will be making even more strongly when we move on to Committee Stage, because the accumulation of many of the different measures I have been called on to do here this evening would mean a lower surplus or maybe no surplus at all, which would then involve using the corporate tax receipts that many speakers have said there could be a risk on over time. I firmly believe that would be the wrong thing to do, given all the risks our country is currently facing.”
“If I was to bring forward all of the measures included in this budget with regard to business taxation and add to those changes in personal taxation as well, that would have brought the overall size of this budget up to around €10.5 billion, if not more. That is simply a budget that would be too big and would pose risks in terms of how we can pay for this in the future. I appreciate that, at a time when the cost of living is still a challenge for so many and I hear, as every other TD in this House does, the challenges people have in getting by, this is a difficult argument for people to accept at a time during which they are worried about the rising cost of living in front of them.”
“I make all those points regarding budget 2026 overall because it influences every single one of the decisions that have been made with regard to taxation in the Finance Bill 2025. The Bill itself contains over €1 billion in tax measures. As has been well documented and debated up to this point, the Bill does not include measures with regard to personal taxation. If our economy remains strong - budget 2026 is part of the investment that is needed to support growth within our economy - it is my intention to bring forward changes on personal taxation as I have done in many, though not all, of the other budgets I have been involved in. I would make the case that it is vital that we stand by a view regarding overall tax changes within our economy being at a certain level.”
“I am referring to the households that depend on jobs. I am referring to those who use our public services and work in our public services, who need a stable and growing economy from which we can fund those public services and support, particularly, our most vulnerable. The key feature of this budget is one not particularly referenced within the Finance Bill itself because it is a spending measure. That feature is the degree to which overall investment in our economy has now moved up to over €19 billion per year. That will take effect next year due to the work that has been done in the national development plan. That is, in particular, about providing the investment in our water infrastructure and electricity grid that is essential to allow more homes to be built in the years ahead.”
“I want to thank all the Deputies who contributed on this debate. I have stayed for all of Second Stage to hear the different views that have been raised and I look forward to dealing with these matters in more detail on Committee Stage, beginning in two weeks. I will now deal with some of the different charges and debates around the Finance Bill. As some speakers have recognised, this is the first of five budgets this Government will bring in. This budget aims to lay the foundations through a higher level of investment within our economy that, I believe, will provide the support our economy needs to regain some of the growth and some of the jobs that would have been lost by the very uncertain environment we are now in. When I talk about things like our economy or growth, that has a very human face for me.”
“I look forward to working with all in the House as we bring forward this important legislation in the coming weeks. I commend the Bill to the House.”
“Section 99 makes a number of changes to the residential zoned land tax, including to provide a further opportunity to landowners whose land will appear on a revised map to be published by 31 January 2026 to request the rezoning of such land by the local authority in whose functional area the land is situated. Given the time available, I have not spoken to every section of the Bill but further detail is set out in the explanatory memorandum published alongside the Bill. As is customary with the Finance Bill, there are still a number of matters under consideration that I may bring forward as amendments during future legislative Stages. The Bill sets out the provisions necessary to bring effect to the tax measures announced in the budget. They seek to support households, businesses, jobs and investment and to protect our economy.”
“Section 79 introduces a new market cap exemption stamp duty threshold of €1 billion for Irish SMEs and start-ups trading on regulated markets. For companies below this threshold, the 1% stamp duty charge paid on share transactions will not apply. Section 80 extends the bank levy for a further year. Section 82 provides for a four-year extension of the stamp duty relief that is available for qualifying young, trained farmers. In the miscellaneous provisions section of the Bill, section 89 inserts a new section in the Taxes Consolidation Act for the transposition of Part I of the OECD international standards for automatic exchange of information in tax matters, with regard to the crypto-asset reporting framework. Sections 94 to 98 provide for technical and care and management amendments.”
“Section 49 enhances the existing capital gains tax revised entrepreneur relief by increasing the lifetime limit on gains to which the relief applies from €1 million to €1.5 million for disposals made from 1 January 2026. Section 53 provides for budget increases in the rates of tobacco products tax of 50 cent on a pack of 20 cigarettes in the most popular price category, on a VAT-inclusive basis, with pro rata increases on the other tobacco products. Section 66 provides for an extension of the 9% rate of VAT on gas and electricity until 31 December 2030. Section 67 provides for the 9% rate of VAT to apply to the sale of new apartments until 31 December 2030. Section 68 provides for the application from 1 July 2026 of the 9% rate of VAT to the supply of hairdressing services, food and certain drinks supplied in the hospitality sector.”
“Section 38 introduces a dividend withholding tax exemption for investment limited partnerships and equivalent EU-EEA partnerships. This seeks to support opportunities for growth in the funds industry. Section 40 introduces the new section I mentioned at the start of my speech, which provides for the enhanced corporate tax deduction for apartment construction expenses. Section 43 amends the film corporation tax credit to introduce an enhanced credit of 40% for qualifying visual effects projects, subject to certain conditions. Section 44 extends the digital games corporation tax credit for a period of six years until 31 December 2031. It also extends the scope of the credit to the development of post-release digital content.”
“Section 31 inserts a new section in the Taxes Consolidation Act to allow Revenue to estimate the income tax or corporate tax due for those that are registered for these taxes but that fail to make returns in line with their statutory obligations. Section 32 provides for a corporate tax exemption for rental income arising from dwellings designated as cost rental under Part 3 of the Affordable Housing Act 2021. Section 34 makes changes to the research and development tax credit, including increasing the rate of the credit from 30% to 35% and in the first-year payment threshold from €75,000 to €87,500. Section 36 reduces from 41% to 38% the rates of taxation that apply to investments in Irish-domiciled funds and life assurance policies and to equivalent offshore funds and certain foreign life assurance products.”
“Section 26 provides for an extension, until 31 December 2030, of the acceleration of wear and tear allowances on capital expenditure incurred on gas and hydrogen vehicles and refuelling equipment used for the purposes of carrying on a trade. Section 28 provides for an extension of the accelerated capital allowances scheme for capital expenditure incurred on slurry storage to the end of December 2029. Section 29 provides for the changes to the living city initiative I referenced earlier in this speech. This includes an extension until the end of 2030 and an expansion in scope to include properties built before 1975, among other measures. Section 30 extends the deduction that is available to landlords that incur certain retrofitting expenditure in respect of rented residential properties until the end of December 2028.”
“Section 23 introduces a new vehicle category for zero-emission cars, where the lowest benefit-in-kind rates will apply. This section also extends the temporary reduction in the original market value for the purpose of determining the BIK payable on certain categories of cars. The OMV will be reduced by €10,000 for the 2026 year of assessment, €5,000 for 2027 and €2,500 for 2028. Section 24 provides for the same reduction in the OMV for vans, including electric vans, for the purpose of determining BIK. Section 25 provides for an extension, until 31 December 2030, of the accelerated wear and tear allowances on capital expenditure incurred on certain energy-efficient equipment used for the purpose of carrying on a trade.”
“Section 18 provides for an extension of the KEEP until 2028. The extension is subject to a commencement order as the scheme is a notified state aid and must be approved by the Commission of the EU. Section 21 extends the foreign earnings deduction scheme until 31 December 2030. From 1 January 2026, the level of relief is increased to €50,000, and the Philippines and Türkiye are included as relevant states for the purpose of the scheme. The Bill includes additional amendments to simplify the relief while ensuring it is appropriately calibrated. Section 22 extends the special assignee relief programme until 31 December 2030. From 1 January 2026, the minimum salary requirement is increased to €125,000. Additional amendments are being introduced to make the relief more practical.”
“Section 5 updates the underlying legislative provisions for the compensation payable to a living donor of a kidney or a lobe of a liver under conditions defined by the Minister for Health in order that such payments remain exempt from income tax. Sections 6 to 10, inclusive, relate to amendments pertaining to charities and sporting organisations. Section 11 extends the income tax disregard of €400 for income received by households who sell electricity from microgeneration back to the grid for a further three years, to the end of 2028. Sections 13 to 17, inclusive, relate to pensions. They introduce a new reporting obligation for qualifying fund managers in respect of approved retirement funds and set out the taxation and relief rules for the automatic enrolment retirement savings scheme.”
“This change is made in line with the national minimum wage applicable in 2026 and ensures that the 2% rate remains the highest rate of USC that is charged on the income of a full-time worker on the national minimum wage. It also provides for a two-year extension of the reduced rate of USC for medical card holders. Section 3 extends the rent tax credit in its current form for a further three years, until 31 December 2028. Section 4 extends the mortgage interest tax relief for the 2025 and 2026 years of assessment. For claims relating to 2025, the maximum value of the credit will remain at €1,250, with a 50% reduction applying for claims relative to 2026.”
“This public health policy objective drives our tobacco tax: our annual rate changes are designed to raise the price in order to lower the level and uptake of smoking. Such a tax policy is promulgated by the World Health Organization for supporting public health, and in 2022 the Commission on Taxation and Welfare endorsed using tobacco taxation to fight tobacco consumption. I now turn to the contents of the Bill itself. It is substantial, running to 102 sections and over 140 pages. The first sections deal with income tax items. Section 2 increases the USC 2% ceiling by €1,318 to €28,700 for the 2026 year of assessment onwards.”
“In line with the programme for Government, I am reducing the rate of VAT that applies to hairdressing services and the sale of food and certain drinks in the hospitality sector from 13.5% to 9% from 1 July 2026. This will help protect the jobs of the many people employed in our small coffee shops, restaurants and hairdressers. I am also extending the 9% rate of VAT on gas and electricity bills. This measure will support households across the country as energy prices remain high. This was introduced by way of financial resolution on budget night, and the Bill gives effect to it until 31 December 2030. This Finance Bill confirms the budget night increase in tobacco products tax. Smoking remains Ireland's leading cause of preventable death, and the Government is committed to reducing smoking prevalence.”
“To support more people to live in our city centres, I am making substantial changes to strengthen the living city initiative to support the enhancement of older homes and commercial properties in the designated special regeneration areas in Cork, Dublin, Galway, Kilkenny, Limerick and Waterford. In this year's Finance Bill, I am extending the residential development stamp duty refund scheme until the end of 2030 and making a number of amendments, including providing for a full stamp duty refund to be claimed in respect of a multiphase development at the commencement of the first phase of that development. I am also extending the income tax deduction for small landlords who retrofit their properties for three more years. To support renters, I am extending the rent tax credit for a further three years, until 31 December 2028.”
“In line with the Government's commitment to accelerate the delivery of affordable homes, I am exempting the rental profits arising from homes that fall within the cost-rental scheme from corporation tax. This exemption will apply to developments that are designated as falling within the cost-rental scheme by the Minister for Housing, Local Government and Heritage on or after 8 October 2025. I am also introducing an enhanced corporate tax deduction for certain costs incurred on the construction of apartment developments and for the conversion of non-residential buildings into apartments to improve the viability of such developments. It will be available for projects where a first commencement notice is submitted on or after 8 October 2025 and on or before 31 December 2030.”
“In order to maximise the impact of this measure on the supply of new apartments, I have asked my officials to examine the potential to broaden the scope of the rate of 9% to include site and construction services provided for qualifying new apartment developments. This is with a view to bringing more apartments within the scope of that rate. Accordingly, I may bring forward further amendments during the legislative process, subject to further advice. I am also providing another opportunity for landowners to seek to have their land rezoned to reflect the genuine economic activity being carried out, and for those who do so to apply for an exemption from the RZLT in 2026. Further changes to enhance the operation of this tax are also included in the Finance Bill.”
“I have considered how the tax system can contribute to supporting additional supply, promoting and encouraging regeneration and tackling dereliction. I am introducing in this Bill a range of measures, including a reduction in the rate of VAT applying to the sale of completed apartments from 13.5% to 9%. This was introduced via financial resolution on budget night, and the Bill will provide for it for a further five years, until 31 December 2030. I will bring forward an amendment on Committee Stage to clarify that the 9% rate applies to purpose-built student accommodation that falls within the definition of apartment blocks. That is in line with policy intention.”
“As we navigate uncertainty in our international trading environment, it is more pressing than ever that this Government chooses to prioritise measures that support jobs and growth. The measures announced in the budget, such as the enhancements to the research and development tax credit, the participation exemption and audiovisual incentives, will protect jobs and build on our progress, enhancing our country as one with which and in which business can be done. Looking ahead, we expect to add a further 63,500 jobs by the end of next year, with the economy remaining at full employment in the coming period. Housing continues to be one of the biggest challenges facing our country. In preparing for the budget, the challenges facing people seeking to access housing - either a home to rent or a home to buy - was to the fore of my mind.”
“The changes provided for in the Bill also seek to address the many challenges facing our society, including those of housing and climate change. It also contains a number of administrative changes to the tax code to reflect recent international developments and seeks to protect and enhance the integrity of our tax system. I look forward to bringing this important legislative instrument through the Oireachtas in the coming weeks. We are making the best possible use of the resources available to invest in our future and to strengthen our foundations. That is why I introduced a tax package of a certain scale that does not put our economy at risk. It safeguards against risk by running budget surpluses, reducing public debt as a share of income, and building up funds so that we are prepared for the future.”
“I move: "That the Bill be now read a Second Time." We are here today to begin our consideration of the Finance Bill 2025, which will give the necessary legal basis to the decisions announced in the budget and make a number of other necessary changes to tax legislation. In budget 2026, the Minister, Deputy Chambers, and I announced a budgetary package of €9.4 billion, as set out in the summer economic statement. Some €8.1 billion has been allocated for public spending and €1.3 billion for taxation measures. The budgetary measures we announced seek to protect our economic stability, support our citizens and prepare Ireland for challenges and opportunities that await. The Finance Bill implements a range of targeted tax changes, including specific measures to support households, jobs and businesses and to encourage and promote investment.”
“That is why we have to strike the right balance between increasing investment and moderating the growth in day-to-day spending. That is why our tax changes must be of a certain value, and no more. That is why now is the time to steady ourselves on the path for the future. In this and future budgets, the Minister, Deputy Chambers, and I, with the Taoiseach, the Tánaiste and Independent colleagues, will continue to stay on the path to support growth and to maintain safe public finances. We will do this because this, in turn, offers the best protection and best support for our people. Through our investment in people, jobs and homes, we are determined to meet the challenges that we face today and to realise our hopes and our ambitions for tomorrow. I commend budget 2026 to Dáil Éireann.”
“The Minister, Deputy Chambers, and I make the case for that in this budget, for a budget that builds on what is good in our economy to achieve more for our country and for its citizens, today and in the future. This budget will boost our resilience. It will protect jobs. It puts us in the best possible position to create a stronger and more competitive economy while meeting the needs of our people today and in the time to come. To achieve this, a budget must make choices. Any budget that attempts to achieve everything in a single go weakens our ability to be safe in a turbulent world. This is why we make the case for running budget surpluses and for setting up funds for the future. Not for some abstract reasons, but because this approach gave us the ability to help in the toughest of moments in recent years, and it will do so again.”
“This will provide time for engagement between my Department and relevant stakeholders on the design and structure of this duty. Tobacco To support public health policy to reduce smoking in Irish society, I am increasing excise duty on a pack of 20 cigarettes by 50 cent, with a pro rata increase on other tobacco products. Conclusion A Cheann Comhairle, our public finances are in good shape overall. Our employment is at an historically high level. Our schools, our hospitals and our public services are responsible for so much good in our society. But we must build more homes. We must help those who need our help in a more targeted way.”