It is 8,000 ha.

INTRODUCTION A Cheann Comhairle, the last time I announced a budget in this Chamber, two years ago, none of us could have foreseen that the worst global pandemic in a century awaited. We knew well about the risks associated with Brexit and had prepared for it; we could not have predicted the devastation Covid-19 would leave in its wake. Both events have demonstrated the need for us to always prepare for the worst while striving for the best. Many lives were lost and many livelihoods were ruined. The Covid-19 pandem…

-----although it is not the only one and will not deliver the required emissions reductions on its own.

We have seen challenges around energy supply and prices. The Government is conscious of how this will impact on our most vulnerable. That is why new moneys raised in this change will be invested in targeted social welfare initiatives to prevent fuel poverty and ensure a just transition.

It is why the additional revenue from carbon tax will be used to invest in a socially progressive national retrofitting programme. The 2019 climate action plan recommended the development of "an enabling framework for micro-generation which tackles existing barriers and establishes suitable supports within relevant market segments". To that end, I am proposing a modest tax disregard in respect of personal income received by households who sell surplus electricity that they generate back to the grid. VEHICLE REGISTR…

For those worried about whether they can own a home or afford their rent, this budget will support you.

For businesses looking to the future, this budget will back you. That future, for individuals, for families and for businesses, is based on secure public finances. We make further progress to that goal in this budget. Over the past year and a half we made the right choices at the right times. Let us now do that again. I am an optimist by nature. I believe that as we move out from under the dark cloud of the pandemic, there are truly exciting times ahead for this country and for its people. Yes, there are many chall…

The Deputy already knows what the macroprudential rules are and how they are operated so I will directly answer the question he has put to me. With regard to my engagement with the Central Bank, the operation of the macroprudential rules is an independent function of the Central Bank and it is not appropriate for me to contact it on how it operates that policy. It is set and implemented by the Central Bank, through our banks. With regard to our retail banks, I want to underscore that this is a commercial decision m…

It is a separate issue and I am aware of its huge importance and the chronic stress and anxiety it has caused. While the Deputy recognised that I cannot influence a lending decision made by our banks, I will raise this issue in the coming weeks, in the context of the Government response to mica that will be put forward.

To date, I have not had engagement with the banks on a contribution they may, or may not, make to a scheme such as this in the future. Obviously, there is an intensely important need that we have to strive to better meet on behalf of the communities for whom the Deputy is raising this issue and the families who do not have a home. The issue we will need to consider is how this will be paid. This is a matter the Government will have to consider because this is as big and difficult as the mica and pyrite issues. Othe…

I propose to take Questions Nos. 2 and 5 together. As is always the case, I have to emphasise that it is not appropriate for me to comment on the tax affairs of an individual business. I am advised by Revenue that the competent authority agreement with Malta, to which the report refers, was clearly set out as addressing arrangements that would otherwise exploit mismatches between the two countries' rules - specifically their rules on company residence and domicile. The objective of the competent authority agreement…

I thank the Deputies. Deputy Doherty touched on a point I was going to make to Deputy Nash regarding information that was contained in the Christian Aid report. That report noted that since the changes were made by me and accepted by the Dáil in November 2018, only four companies have been incorporated in Ireland with a place of business registered in Malta. The measures that I brought in have had an effect and have played a key role in changing a behaviour that I described at that point as not being acceptable. I …

The Christian Aid report shows that the number of companies that have been registered in Malta since the measures I brought in took effect is small. Was I aware of this behaviour? No, I was not. Will the Revenue Commissioners be informing me of the detail of the affairs of any one taxpayer? No, they will not. They will advise me on the generality of any matter. As to me laying out on the floor of the Dáil what I am planning to do to deal with any potential concerns regarding tax avoidance, that would only create th…

I am of course aware of the huge challenges we have in providing affordable homes, providing homes for those who need them most and the great challenge of increasing rents. That is why I am absolutely committed to delivering the measures that are outlined in Housing for All. There is no delay whatsoever to those commitments. I am committed to the introduction of such a tax. Before I look at what that tax will be and what its structure will be, it is important to gain further information about the level of vacancy w…

Time will be used to ensure that when I make a decision on the introduction of this tax, it will be a tax that is effective and plays the role I want it to play which is the conversion of vacant properties into homes that families and those who need housing will use. Bringing in such a measure on the use of property is something I need to get right. It needs to be effective and must be based on evidence. The time we are talking about is only that which is needed to collect information on the number of properties, h…

Actually, I have much thought out in relation to what we will do.

The Deputy wants to give a speech. I want to put in place a tax that will make a difference.

I will continue with the work that is under way because, of course, I am aware of the need to get more homes built and to turn vacant properties into family homes. That is the reason we have Housing for All, in which there are record levels of investment. It is also the reason that year-on-year, during the last Government, more money was made available-----

-----to build more homes and which led to those homes being built. As the Deputy knows, it is simply not appropriate for me to comment on-----

-----the detail of a policy in relation to taxation until it is communicated in a finance Bill or on budget day. That is what I will do.