I have given the view on the scheme as clearly as I can. I completely understand where the Deputy is coming from and why he is raising the issue. As I said, it is really important that any changes we make at a time in which supply is still not increasing at the speed we want do not add to inflationary difficulties. I will take on board what he said.

The Finance Act 2020 legislated for annual increases in the carbon tax rate of €7.50 until 2029, along with a final increment of €6.50, bringing the rate to €100 per tonne of carbon dioxide in 2030, with current rates based on charging €63.50 per tonne of CO2 emissions. Under the programme for Government, it has been agreed to continue with the planned carbon tax increases, which align with recommendations from the Climate Change Advisory Council, and to continue to use the additional revenues to fund social welfar…

This is a revenue-collecting measure that pays for public services and improvements in those things that can make a difference to a greener future for Ireland. Annual increases in carbon tax have been ring-fenced to ensure that this money is used to fund the development of better infrastructure across our country, help with the cost of fuel poverty and fund things we know our country needs to become greener and healthier. Budget by budget, I have made changes in social welfare payments to ensure that those on the l…

I was careful in my answer. I said that the increases in carbon taxes since I introduced this measure in the Finance Act 2020 have been ring-fenced. Before I put in place the increases to which we are referring, there had been a base carbon tax, which was the foundation for all of this and the revenue from which goes to pay for public services. The Deputy stated that it said something about my motives that we are using these increases in carbon tax to pay for measures that can help with the greening of our economy …

The Future Ireland Fund and the Infrastructure, Climate and Nature Fund were established in 2024 following the passage of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act through the Oireachtas. The majority of the Act commenced on 30 July 2024. The funds seek to future-proof the public finances and deal with future challenges such as our country growing older, decarbonisation and the use of new technologies. As the Future Ireland Fund is a long-term savings fund, drawdowns from the fund will…

The day-to-day management of the funds is done by the National Treasury Management Agency. The NTMA is preparing long-term investment strategies for both funds that will then be subject to consultation with the Minister for Finance and the Minister for Public Expenditure, National Development Plan Delivery and Reform. These strategies are being reviewed and will then be signed off on by the two Ministers. The current investment strategies are being managed in a low-risk way. The funds are only invested in highly ra…

I would expect those kinds of issues to be considered carefully by those involved in investing this money, which we are now building up. We had a debate last night on this topic in the Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach where I said that I am reluctant to put in place lots of legislation and restrictions regarding how decisions are made by the NTMA because it does a really good job on our behalf in managing the various funds we already have i…

The Finance (Provision of Access to Cash Infrastructure) Act 2025 is the result of a recommendation in the Department of Finance’s 2022 review of retail banking. The objectives of the Act are to ensure sufficient and effective access to cash in the State; to put in place a framework to manage future changes to the cash infrastructure in a fair, orderly, equitable and transparent manner; and to bring cash-in-transit providers, CITs, and independent ATM deployers within the regulatory perimeter of the Central Bank of…

I will look at that issue. I am struck, despite what I said, by the number of premises I now walk into, like shops and cafés, that say "card only". I can understand completely the benefits they get in that regard. There are benefits to the economy overall as well in being able to record transactions and look at how tax is collected. However, I go back to the point I agreed on a moment ago. Not being able to use cash to access a service is something I am concerned about. I want to consider it further, and in my next…

I would be reluctant to give that commitment to the Deputy here today because I would need to consider whether that would have any unintended consequences regarding policies we have on the legal tender of cash. That is now being developed within the European Union. As I said to the Deputy, I will look at the matter. I want to ensure that citizens do not in any way feel excluded from our financial system. I cannot help but notice the growing number of shops and cafés I walk into that say "card only". That is not at …

I propose to take Questions Nos. 13 and 21 together. It is always a privilege to be here as regularly as I am to answer the important questions Deputies put to me and to respond to the Dáil. I want to highlight where we are from a jobs point of view in Ireland. It is a really positive development in our economy overall. Total employment in the last year alone went up by 90,000 people, with the total number of people at work in our country now exceeding 2.8 million. The unemployment rate now stands at 4%, while the …

We need to look at all policies available to the Government in order to see how to make more progress in this area. Having been out and about with the Deputy a number of months ago in many of the towns in the constituency he represents, I am aware of the variety of employers located there. Due to the fact that we now have such a diverse set of employers in Ireland, we need to take a step back and identify the broad things we can do to help them all. I am convinced that these continue to be: having a stable economy …

I agree with the Deputy. As he stated, this is an important achievement that the Government has to try to sustain. The Ireland in which I began my education did not have this level of employment. There is much we know we need to do better on and every TD on the Government benches is aware of the difficulties that we face and that we committed to trying to deal with. At the same time, having so many people at work is not only good for those in the jobs, it also creates the resources we need. Those resources, in turn…

I thank the Cathaoirleach for the opportunity to speak in the Seanad this afternoon on the economic outlook for our country. As a former Member of this House, it is always an honour to be here. Before I discuss the Irish economic outlook, it is important to underline the global environment we are in. As all Senators will be aware, uncertainty is now the dominant feature of the world economy. In particular, there is uncertainty regarding the rules that have, I believe, served us well with regard to trade. Recent dev…

No.

I have taken careful note of all the points Senators made. I will deal with each of them in turn and offer a few thoughts in response. Senator Joe O'Reilly made the important point that anything achieved by this Government or previous Governments, let alone the Oireachtas, is nearly entirely due to the buy-in of the Irish people. I go a stage further and say it is nearly entirely due to their hard work. Whatever resilience we have in our economy, which I believe is real, is a reflection of a number of things. One o…

Let me begin by emphasising Ireland's absolute respect for international law. Our view is that this is at the core of our foreign policy. I emphasise our track record in what we have done and what we have called for on behalf of the people of Gaza. Let me make the Government's stance really clear. We condemn Israel’s illegal annexation of the occupied Palestinian territories and we condemn the catastrophic humanitarian situation arising from Israel’s war in Gaza. That is why we have taken an active role in the prep…

For the first time in the State, what this Bill aims to do is to introduce a national sanctions regime. Let us step back and acknowledge the huge suffering that is the cause of this debate but let us look also at how Irish diplomacy has worked. How it has worked is that the sanctions that we have implemented have been ones that have been negotiated, agreed and introduced at EU and UN level.

They are an important tool to promote the objective of the EU's Common Foreign and Security Policy. Sanctions are stronger and more effective when done collectively. Rather than be seen to do something, it is far better-----

-----to ensure the outcome is effective. Furthermore, the clear advice that has been provided to me is that it is not about hiding behind the law, it is as a government and a Member of Parliament, being subject to the law.