From tenants to landlords: what do the new Rent Pressure Zone reforms mean?
Here is how different parts of the rental sector are impacted by the Government's Rent Pressure Zone reforms...
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Irish Times
an hour ago
- Irish Times
State to sell remaining shares in AIB
Minster for Finance Paschal Donohoe moved on Monday to sell taxpayers' remaining stake of about 3.3 per cent in AIB. The sale, being carried out by way of a placing among institutional investors, known as an accelerated bookbuild (ABB), is expected to raise about €480 million. That takes into consideration an expectation that the shares will be sold at a slight discount to Monday's closing price of €7.01 in Dublin. The move takes advantage of how AIB's shares have risen more than 31 per cent this year, having recovered from a sell-off across equities globally in April as investors fretted about US President Donald Trump's tariff policies. READ MORE 'This is an important milestone in delivering on the government's policy of returning the banking sector to private ownership,' said Mr Donohoe. More to follow
Irish Examiner
5 hours ago
- Irish Examiner
Budget 2026: Second targeted child benefit payment 'not off the table'
The introduction of a second, targeted child benefit payment is 'not off the table' for Budget 2026, the Taoiseach has said. Micheál Martin said consideration was being given towards the introduction of a second-tier of child benefit. 'Nothing's off the table, we're examining all options in respect of this. We have to do something targeted and something that will have a meaningful impact on child poverty.' The Taoiseach said there would be a 'very significant expenditure' required for such a proposal, with the Government due to look at other options to tackle child poverty. 'There's a wide menu there that we can choose from to target resources to meaningfully impact on the child poverty situation,' Mr Martin said. 'That's not just in terms of income supports, but also in terms of other initiatives in education. For example, the Deis+, which would target more children in particular with severe disadvantage.' Within the 2025 programme for government, there are commitments to 'explore a targeted child benefit payment'. At present, child benefit is paid out to families at a value of €140 per month per child. It is paid to children until they reach 16. However, payments will still be made to 16, 17 and 18-year-olds if they are still in full-time education or training, or if they have a disability and are unable to support themselves. On disabilities, Mr Martin said the Government would give consideration to beginning the process of ending the means test for the carers' allowance. He added there was a 'commitment' to end the means test within the programme for government. Housing However, the Taoiseach declined to speculate on possible tax breaks for developers featuring as part of the budget. Mr Martin highlighted the market sensitivities, but added there would be further initiatives on housing unveiled in the weeks ahead. He said the Government's agenda was to create 'certainty' to bring in more private finance into the housing market. It comes as finance minister Paschal Donohoe did not rule out the possibility of tax breaks for developers, saying how the Government supports the building of homes and infrastructure would be a 'key feature of the budget'. 'What I just want to ensure is that any decisions that we do make are ones that are affordable, well designed and myself, [public expenditure] Minister [Jack] Chambers and the party leaders, will be able to listen to all of these views and work out what I believe will be a safe, sensible budget for next year.' Pressed on this and how he previously came out against such tax reliefs, Mr Donohoe said: 'We're at a position now where we will be intensifying the work in relation to the budget. 'I've outlined my views in the past, I'm clear, but what I'm focused on doing now is working with Minister Chambers to deliver the budget and making sure that all we do in the budget is safe.' Meanwhile, Mr Harris said the Government's pledge to cut the Vat rate to 9% for hospitality was a 'solemn commitment' and it was not just a tax cut for businesses. 'It's about recognising that in every town and every village, there are small businesses that are creating employment that want to be able to keep going and need to be supported,' Mr Harris said. Mr Donohoe added that the Government was committed to delivering on Vat in the budget. However, he warned there may not be income tax cuts in the upcoming budget, with the finance minister saying 'decisions have to be made'. 'If we decide that we are going to make a particular set of decisions and investments in tax, then that means there are other things that we will not do,' Mr Donohoe said.
Irish Daily Mirror
5 hours ago
- Irish Daily Mirror
Tough Budget 2026 decisions ahead with tax cuts for workers on chopping block
Finance Minister Paschal Donohoe and Public Expenditure Minister Jack Chambers have warned that tough decisions will need to be made during the Budget 2026 process. It came amid indications that a reduced VAT rate for hospitality will take precedence over tax cuts for workers. Tánaiste Simon Harris, meanwhile, warned that there is a "dark cloud on the horizon", and suggested US tariffs could impact budget decisions. The National Economic Dialogue was held in Dublin Castle on Monday, marking the start of the budgetary process. It brought together stakeholders and senior Government ministers to discuss Budget 2026, which is due to be unveiled in October. It comes ahead of the publication of the Summer Economic Statement next month. This sets the parameters of the budget and how much money will be allocated. A new National Development Plan will also be unveiled by Minister Chambers next month. Government sources told the Irish Mirror that Budget 2026 will be "much different" to the generous budgets that have been the norm in recent years. They warned that it will be much tighter given concerns about the ongoing uncertainty over US President Donald Trump's tariff regime. It also comes amid a backdrop of concern over the increasing public spending. Speaking at the NED, Minister Donohoe stated that there will have to be a "safe and sensible" budget. He also indicated that reducing the VAT rate for hospitality from 13.5 per cent to 9 per cent could take precedence over tax cuts for workers. He said: "We made it very clear in the general election that choices have to be made and choices have to be made in how we use the country's money. "There are commitments that I know all parties and Government are committed to delivering from the VAT perspective. "But as we make decisions in relation to that, that means there are other things that we can't do. "I am confident that if we are in a position of stability within our public finances in the time ahead, the commitments that we have laid out in the Programme for Government that we can deliver them. "But I think and I know that our first priority leading up to this budget is to look at how we can support jobs, invest in infrastructure and keep our public finances safe. "Decisions always have to be made. Minister Chambers is in the middle of an enormously difficult process with regard to the National Development Plan, where the demands that he has to manage are always ahead of the resources that are available. "The same applies to taxation. If we decide that we are going to make a particular set of decisions and investments in tax, that means there are other things that we will not do." When it was put to Minister Donohoe that the priority in Budget 2026 will be on VAT and hospitality rather than on tax cuts for workers, the Fine Gael TD said that the VAT rate was a "shared priority across Government". He said there is a need to "invest in our future" and "keep and grow jobs in Ireland" as he noted there had been "big changes to the cost of doing business" for those in the hospitality sector. The Tánaiste, meanwhile, said the National Economic Dialogue on Monday marked 23 days until the end of Trump's 90-day tariff pause and what Mr Harris described as a "very high level of tariffs". He warned that the Summer Economic Statement and indeed the budget "will be framed with the best possible information available to us at the time in terms of any economic challenge caused by trade and tariffs". He argued that the final tariffs are still unknown and pharmaceuticals could still be hit. Mr Harris added: "What is absolutely clear, though, is you would want to continue a budgetary strategy in October that is sensible in planning for a variety of eventualities." When asked about the prospect of tax cuts for workers being shelved, Mr Harris said no decision had been made, but the Government made "very clear and specific commitments in certain areas, and those commitments have to be paid for." This included, he said, reduced VAT rates for hospitality. He added: "The country's in a healthy economic space. That'll be one of the messages of the National Economic Dialogue, but with dark clouds on the horizon. Therefore, we have to manage that situation."
