NEWS

The Minister states: The independent Agri-Food Regulator established under the Agricultural and Food Supply Chain Act 2023 performs two key functions: • It enforces the law on Unfair Trading Practices; • It performs a price and market analysis and reporting function. The Regulator has since its establishment at the end of 2023, been very successful in delivering on these functions. On the price and market analysis function, over the last year the Regulator has published welco

The Minister states: The CAP Strategic Plan for 2023 to 2027 aims improve the economic, social and environmental sustainability of Ireland's agri-food sector. It does this by supporting viable farm incomes and enhancing competitiveness, by strengthening the socio-economic fabric of rural areas, and by contributing to the achievement of environmental and climate objectives at national and EU levels. The CAP Strategic Plan or 'CSP' includes 28 different schemes or 'intervention

The Minister States: The Targeted Agricultural Modernisation Scheme (TAMS 3) provides grants to farmers to build and/or improve a specified range of farm buildings and equipment on their holdings. Overall, the scheme has proved very popular, with an unprecedented level of applications received. The Farm Safety Capital Investment Scheme is a measure in TAMS 3, which provides an incentive to farmers to avail of investments to improve their own safety and that of their farm. Thi

The Minister states: The Agri-Climate Rural Environment Scheme or ACRES is the flagship environmental scheme provided under the 2023-2027 CAP Strategic Plan, with €1.5 billion in Exchequer and EU funding allocated over the course of the scheme. There are currently just under 54,000 participants in ACRES. Payments in respect of ACRES continue to issue on a weekly basis as cases pass all required validation checks. A total of €512.2 million has now issued since ACRES payments c

The Minister states: The Help to Buy incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also has as an aim to encourage additional supply of new houses by supporting demand. Help to Buy provides a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. As of 31 March 2025, the scheme has supported since

The Minister states: As stated in the Programme for Government, this Government proposes to bring forward measures to support small and medium enterprises (SMEs), in particular the retail and hospitality sectors, acknowledging the increased cost pressures on these sectors. These measures will be implemented as part of the normal budget process as resources allow. The Department of Enterprise, Trade and Employment has a number of initiatives in place specifically targeted at s

The Minister states: The Irish League of Credit Unions (ILCU) represents the majority of credit unions on the island of Ireland. As of September 2024, 167 out 183 credit unions in the State are members of ILCU. At the 2025 ILCU Conference held in Belfast, Minister of State Troy provided an opening address. In his opening address Minister Troy touched on several important issues for the sector including: The importance of the sector as providers of financial services to their

The Minister states: It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. Ireland has a progressive income tax system which is structured such that the more income you earn, the more tax you pay. As a person's income increases, they move up through the various rates and bands and, as a result, while the levels of take- home pay increase overall, the amount of tax they pay also increases. However, to ease the bu

The Minister states: I want to reiterate the Government's view that the imposition of tariffs is deeply regrettable. While a pause on the implementation of reciprocal tariffs is welcome, there remains significant uncertainty surrounding future trade policy and tariffs remain at historically high levels. Government has been in continued discussion at EU-level and with our US counterparts to put forward an alternative and pragmatic path that will benefit all. It is important to

The Minister states: In 2021, several measures were introduced with the aim of dis-incentivising investment funds from buying up large numbers of completed houses, including a higher 10 per cent rate of Stamp Duty on the bulk acquisition of houses (apartments are excluded), which is legislated for in section 31E of the Stamp Duties Consolidation Act (SDCA) 1999. The standard rates of stamp duty applying on the acquisition of residential property are currently 1 per cent on va

The Minister states: The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB). The ECB increased official interest rates over the course of 2022 and 2023 as it moved to combat excess inflation. However, since last summer it has now reduced official interest rates on seven occasions, most recently with effect from 23 April 2025. These recent monetary policy changes, taken together with a change to its operational framew

The Minister states: As Minister of State with special responsibility for Insurance matters, I am very conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses. Current Government policy is focused on the development of a sustainable, planned and risk-based approach to managing flooding. Accordingly, €1.3 billion has been committed to the delivery of flood relief schemes over the lifetime of the National Deve

The Minister states: While our economy - in aggregate terms - is undoubtedly in a strong position at present, the near-term outlook is clouded in considerable uncertainty. In particular, regarding the future of the rules-based, multilateral trading system. Earlier this month, the Government published Ireland's Annual Progress Report, which sets out my Department's macroeconomic and fiscal projections for 2025 and 2026. The baseline forecasts were produced during March on the

The Minister states: The Small Gift Exemption of €3,000 is an annual Capital Acquisitions Tax (CAT) relief available to all recipients of gifts. It should be noted that there is no limit on the number of small gifts a person can receive in a year from different donors. Finance Act 2003 increased the small gift exemption threshold from £1,270 to the current threshold of €3,000. Furthermore, a wide variety of further exemptions and reliefs from CAT, and capital taxes more gener

The Minister states: Income tax receipts to end-April stood at €11.7 billion, an increase of €0.5 billion (c. 41⁄2 per cent) on the same period last year. This is a clear signal of the strength of our labour market. For the year, income tax is projected at €36.7 billion, an increase of 42 per cent. Regarding corporation tax, receipts collected in the first four months of the year stood at €4.9 billion, an increase of €2.2 billion on the same period last year. However, over tw

The Minister states: Financial literacy and education are an important part of financial consumer protection. Financial literacy works alongside many other consumer protections in place to help consumers make the most of their money, make informed decisions and improve their financial resilience and wellbeing. I published Ireland's first National Financial Literacy Strategy in February this year. This was a recommendation of the Retail Banking Review in 2022, and a Programme

The Minister states: This Government is committed to meeting the needs of our society by building more homes, of all tenure types, across the country. Embedding a sustainable property industry in Ireland is also an important factor in maintaining our economic development and growth. Last year, Government approved new national housing targets, aiming to deliver 303,000 new homes up to the 2030. Developing these homes will require significant levels of capital finance. A report

The Minister states: I recognise the concerns felt by businesses across the country about the cost and availability of public insurance cover. The most recent Central Bank National Claims Information Database (NCID) report on employers' and public liability and commercial insurance shows that in 2023, 56 per cent of policies had a premium of less than €1,000, and 90 per cent had a premium under €5,000. Neither the Minister for Finance nor the Central Bank of Ireland can inter

The Minister states: In making any decision in relation to VAT rates or other taxation measures, the Government must balance the costs of the measures in question against their impact and the overall budgetary framework. The Government is very conscious of the pressures being faced by businesses in the hospitality sector which is why it provided for a 9% VAT rate from 1 November 2020 to 31 August 2023 at a cost of over €1.3 billion. Apart from VAT measures, recent budgets con

The Minister states: Despite several economic shocks in recent years, the labour market in Ireland has proven resilient. The latest data bear this out. Over the last year alone, total employment has increased by 90,000, with the total number in work now exceeding 2.8 million, the highest ever. The unemployment rate stands at just 4.0 per cent, while female participation is at a record high. My Department set out its updated assessment of the economic outlook earlier this mont