I thank the Deputy. We have been engaging with the European Commission, particularly in respect of the VAT directive that was introduced earlier in the year. The engagement we have had with the OECD has concentrated on other areas of taxation rather than the area to which the Deputy has referred. As I said, this is a new area of flexibility that has been granted to us. We are going to ensure in the work we do in preparing for next year's budget, which may seem far away but will be upon us quickly, that we think thr…

I move: That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 95 and 181.

I move: "That the Bill be now read a Second Time." We are here today to begin our consideration of the Finance Bill 2022, 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. This year's Bill sets out the legislative provisions to bring effect to the tax measures announced in budget 2023, which is a cost-of living budget that underlines the Government's commitment to help individuals, families and businesses to deal with …

That is not what they said.

Every potential borrower is still subject to the affordability test.

I thank all Deputies who participated in what has been a very lengthy and substantial debate reflecting the importance of the Finance Bill, which is central to the management of our economy and which responds to the many pressing needs in our society of which I and the Government are so well aware. In the time available to me I will respond to the five key themes that have been raised with me: the role of fairness; the role of middle-income workers; the concrete levy; one-off measures and where we are with regard t…

That is a trend that could very well develop across 2023. This is a budget that is fair and that, in the context-----

-----of all our country has gone through, with Covid and changing economic circumstances, can and will make a difference and shows the value in the decisions the Government has made in recent years.

I wish to thank Senators for raising this matter for discussion and I welcome the opportunity to speak to Members about the supports in place for our very valued tourism and hospitality sector. At the outset, I wish to put on record the importance the Government and I place on the tourism and hospitality sector, and particularly its contribution to the Irish economy. It is not just the businesses that operate or the tax revenue that is raised. It is the tens of thousands of people - more than 160,000 of our fellow …

I will continue from where the Minister of State, Deputy Fleming, left off. I believe he made reference to the Bill's policy background and was on the verge of going into the key provisions. Part 1 deals with technical matters such as the interpretation provisions and the commencement of the Bill. As the Minister of State referenced, the Central Bank will be undertaking a consultation process on the individual accountability framework. Part 2 provides for individual accountability and standards. It amends the Centr…

I move amendment No. 2: To delete all words after "Dáil Éireann" and substitute the following: "notes that: — the Government continues to place the highest priority on improving Ireland's housing system and delivering more homes for all types of people with different housing needs through the Housing for All: Our Shared Future plan; — the households affected by the use of defective concrete products in the construction of their homes deserve the necessary support to address the issues they face; — a Government deci…

There will be ample opportunity on the part of Sinn Féin to clarify as the evening goes on. The party wants a bigger levy on the one hand but it is against this levy, which is smaller than some of the figures I heard the Opposition party members mention. I acknowledge it has a risk and that there are consequences here which will need teasing out and debate. How can Sinn Féin, however, want a bigger levy for which more is paid and not suggest that there are risks for that also?

How can this party want a broader levy, which I will come to, and not also indicate that there are risks? Sinn Féin has said that it wants a bigger levy. If it does not the party will clarify that point as the evening was on. If there is a risk, however, with a levy of €80 million, how is there a smaller risk with a bigger levy? The next charge Sinn Féin makes is that we need a broader levy and more people to pay this levy. Here we hear a reminder of those to whom Sinn Féin always goes to seek payment. They are the…

We have had two banks leave our State. In every debate on the banking sector here, I am always asked what more we can do more banks in to the country. While I can understand the attraction of levying, does the party not think there is a risk that could also be passed on? Does it not think that our ability to get more banks and more investment into our country to build more homes is not always or could also be affected by the demand and the case that is made for more levies there? Finally, Sinn Féin called upon the …

I welcome the opportunity to present budget 2023 to this House. INTRODUCTION When we gathered in this Chamber for budget 2022, we were emerging from the very worst of the Covid-19 pandemic. We now face a further economic challenge. If you are an older person, you are having to spend more of your pension on heating your home. If you are looking after your family, you are now facing higher grocery bills. If you are running a small business, you are trying to cope with increases in the cost of energy. This is why budg…

-----as per the trajectory set out in the Finance Act 2020. This will mean that there will be an increase of just over 2 cent, VAT inclusive, per litre of petrol and diesel. However, I also recognise the sharp cost-of-living challenges currently faced by society. The Government is proposing to help offset this carbon tax increase with a reduction in the National Oil Reserves Agency, NORA levy. The NORA levy which is collected at a rate of 2 cent per litre, VAT exclusive, will help offset the carbon tax increase whi…

-----farming communities face as they deal with rising input costs while moving towards a sustainable future. A number of other important agricultural reliefs are due to expire at the end of 2022. These reliefs provide important supports to our young farmers and the farming sector generally. I will extend five agricultural tax reliefs expiring this year: the young trained farmer and farm consolidation stamp duty reliefs; the farm restructuring capital gains tax, CGT, relief; and the young trained farmer and registe…

The scheme will be open to businesses that carry on a case 1 trade, are tax compliant and have experienced a significant increase in their natural gas and electricity costs. The scheme will be administered by the Revenue Commissioners and will operate on a self-assessment basis. Businesses will be required to register for the scheme and to make claims within the required time limits. It is proposed that the scheme will operate by comparing the average unit price for the relevant bill period in 2022 with the average…

It is an omen.

The war in Ukraine and Russia’s reduction of gas supplies to Europe have led to volatility in energy markets and an increase in wholesale gas prices. This is added to existing supply constraints in electricity markets across Europe, which in turn have led to an unprecedented increase in retail electricity and gas prices for consumers, households and businesses in Ireland and across Europe. I am very cognisant of the difficulties this is causing for so many. It is clear the increase in energy prices is leading to wi…