Ireland takes the chair of the 2028-2034 MFF negotiations in July. This is a pivotal period in these complex and highly consequential negotiations. Delivering a finalised agreement within our term would be of significant reputational benefit for Ireland. Will the Taoiseach give an assessment of the prospects for achieving that and outline what he sees as the key pitfalls and opportunities for Ireland in holding the chair at this pivotal moment?

Ireland's funds industry manages trillions in assets and supports over 20,000 jobs. It is one of our most significant internationally traded sectors. Globally this sector is now moving rapidly towards tokenisation and the use of distributed ledger technology. Will the Minister advise what assessment the Department has undertaken of whether our company law framework, including the Companies Act 2014, ICAP and the Investment Limited Partnerships Act are fit for purpose to support this transformation?

I thank the Minister. He will appreciate there is an urgency about this issue. The core requirement from the funds industry is quite narrow. It is recognition that distributed ledger technology is a valid medium for share issuance for transfer, registration and record keeping. No radical change is being sought, just some targeted non-technology-focused amendments to key relevant Acts. Major international asset managers are already launching tokenised fund products, particularly in the money market funds where Irela…

The Minister will appreciate that the risk here is a straightforward competitiveness one. If competing jurisdictions provide clearer legal certainty first, the product development and the jobs that go with it will go elsewhere. The question is not whether tokenisation or distributed ledger technology will become a core component of the funds industry, but whether Ireland will be ready in time to maintain its leading global position in the funds sector. Our reputation in financial services was largely built on antic…

I have been a member of the Joint Committee on Foreign Affairs and Trade through the scrutiny of this Bill. I think it is the right thing to do, not because it will in itself change the situation on the ground but because Ireland has obligations under international law and we should meet those obligations. Ireland was among the first countries in the world to call for Palestinian statehood. When Ireland formally recognised the State of Palestine in May 2024, it was the product of decades of consistent engagement th…

I welcome this Bill and am glad to have the opportunity to speak on it today. The dissolution of the National Asset Management Agency is not just an administrative tidying up exercise. I would very much argue that it is a significant milestone in Ireland's post-crisis economic journey. It is a moment that deserves to be acknowledged and understood and not just processed quietly through this House. NAMA was born in crisis. It is ending in recovery. That arc from emergency to resolution is a demonstration of this Sta…

It has the governance structures, the financial expertise and the institutional capacity to manage what remains in a cost-effective and accountable way. Keeping a separate statutory agency alive with its own board, overheads and administrative infrastructure when the substantive work is done would be a waste of public resources. The model of a time-limited, purpose-specific vehicle has been vindicated. NAMA was designed to do a job and then to go. It is now going and that is exactly as it should be. The transfer of…

There have been some significant developments in recent days around the conflict in Ukraine, including a temporary ceasefire and comments from the Russian President about a willingness to enter into dialogue. We have also recently seen an EU member state hold an election, the outcome of which might signify an easing of its stance towards the bloc's enlargement. Will the Taoiseach provide an update on where we stand with Ukraine’s membership application?

My question concerns the proposed changes to hearings of the Tax Appeals Commission, particularly the removal of the taxpayers' automatic right to a private hearing. It will instead become a matter of discretion for the commissioner. Is the Tánaiste concerned that this change will deter taxpayers from exercising their right to appeal a Revenue assessment?

The Tánaiste will appreciate that the right to challenge a Revenue assessment is a fundamental protection for every taxpayer, but this right has little value if exercising it carries an unacceptable personal or commercial cost. If public exposure alone is enough to deter a taxpayer from pursuing a legitimate appeal, we risk undermining the entire system. It is worth noting that 20% of determinations of the Tax Appeals Commission were found in favour of the appellant. Those taxpayers were of course correct to appeal…

The Tánaiste might appreciate that there is potentially a significant and expensive unintended consequence of this. As he is fully aware, Ireland’s attractiveness as a location for multinational investment depends significantly on our tax policy, particularly the certainty and fairness we apply to taxation matters. The Tánaiste may be aware that a risk review of 20 EU member states showed that all provided rights to private tax appeal hearings. The changes proposed in Ireland would leave us very much exposed as an …

My question is very similar. It relates to the so-called "deemed disposal" tax on ETFs, which requires Irish investors to pay gains every eight years, even where no sale takes place. The programme for Government has committed to an implementation plan to address this anomaly. Like Deputy Boland, I wonder if we could get an update on the details of this and the current timeline.

I too thank the Tánaiste for his clear answer. The core issue here is one of fairness within our own tax system. An investor in individual shares pays capital gains tax at 33% and then only when they eventually sell those shares. However, an investor who chooses a diversified ETF, which is arguably the more prudent investment choice for an ordinary saver, pays a higher rate on the gains they have not yet realised. As was mentioned, they also cannot offset their losses in these, and they face a tax settlement every …

There is another dimension to this. Ireland's position as a major ETF hub in Europe is something we should rightly be very proud of, but there is a contradiction at the heart of that success. Ireland is one of the best places in the world in which to manage and distribute ETFs but one of the most difficult places in Europe for an Irish resident to actually invest in them. Foreign investors in Irish-domiciled ETFs enjoy growth with no deemed disposal obligation, while Irish investors investing in the same products d…

I am seeking an update on the Department's preparations for Ireland's EU Council Presidency and, in particular, how the Minister intends to approach the negotiations on the next multi-annual financial framework, which Ireland will chair. Can the Minister advise how he intends to safeguard Ireland's fiscal interest in these negotiations?

During our Presidency, Ireland will chair and oversee the MFF negotiations, and will do this while simultaneously facing a reduction in our own allocations under the new framework due to our continued economic growth. I am not saying that is a bad thing. In one sense, we are in an advantageous position as we get to set the agenda and we are present at every negotiation. However, given the expectation that we act as impartial chair, does the Minister accept that this could work against us when it comes to pursuing o…

There is an expectation that the agreement on the MFF will be reached before the end of 2026. Ireland effectively carries the responsibility for delivering one of the most complex and contested negotiations in recent EU history within that six-month term. These negotiations involve deeply-held national interests across 27 different member states. There are significant disagreements on spending priorities. Overall, there is a total budget of approximately €2 trillion. Does the Minister believe that agreement is genu…

The Middle East conflict is having wide-ranging repercussions. Two of these impact directly on Ukraine's ability to defend itself. The first is that Russia was selling Urals oil at approximately $40 dollar in the past few months, towards the end of last year. This price has obviously risen substantially since the outbreak of the conflict in the Middle East. There are two reasons behind this: the rise in global oil prices and the US sanctions waiver that is now allowing India to purchase Russian oil. It is estimated…

I seek an update on the Government's action plan on insurance reform. This issue continues to be raised with many of us by households, community groups and business still facing very high premiums and, in some cases, finding it difficult to get cover at all. I would like to know where the action plan currently stands, what progress has been made to date and, in particular, whether the priority actions identified within the plan are being implemented.

The action plan was pledged as the answer to years of rising premiums and uncertainty for households and businesses. However, as I am sure he acknowledges, my colleagues and I continue to hear from people who have not yet seen any meaningful reduction in their insurance costs despite the reforms that have been announced. Will he set out how the Department is tracking the implementation of the reforms and measuring the impact they are having in practice on insurance customers?