logo
What's the latest on the Apple Tax? All (or most) will be revealed next week

What's the latest on the Apple Tax? All (or most) will be revealed next week

The Journal19-07-2025
EARLIER THIS WEEK, the Department of Finance published financial statements for the escrow account that was being used to hold the Apple Tax money.
The account was closed in May of this year, with a total sum of almost €14.25b transferred to the exchequer.
Apple had originally transferred €14.3b to the account in 2018 ahead of its appeal against the European Commission decision, which
found that the company owed Ireland
€13.1b plus interest of €1.2b.
So what happens now?
You may be thinking, 'We haven't heard about this money in a while, what's the government's plan for it?'
A lot will be revealed next week when the Department of Public Expenditure publishes its review of the National Development Plan for 2026-2035.
This plan sets out the government's scheme to build infrastructure over the coming years, including things like rail, roads, electricity connections and sewage schemes.
Next week, the publication of the review will set out how some of the €14b in Apple Tax will be spent.
It will also set out spending plans for the proceeds from the sale of AIB shares, and money from other State funds, including the Infrastructure, Climate and Nature Fund.
Advertisement
The government has previously said that Apple money will be used to invest in our stock of critical infrastructure — housing, energy, water and transport – instead of paying for day-to-day spending.
But other than that, we haven't been told much more about what exactly the money will be used for.
Ahead of last year's general election, all parties
outlined their ideas for how the money should be spent
, with Fianna Fáil and Fine Gael differing slightly in how they would split it.
Fianna Fáil pledged to focus on five key infrastructure areas – housing, the electricity grid, water infrastructure, transport and health digitalisation, while Fine Gael promised to allocate €10b for housing and €4b on energy, water and transport.
Given that it's Fianna Fáil leader Micheál Martin who holds the Taoiseach's office at the moment, we can expect to see the actual spending skew towards his party's priorities.
Specifically, Fianna Fáil wanted to see €4b of the money allocated to the Land Development Agency (LDA) to build housing.
Fine Gael wanted to use the money they had ringfenced for housing to extend the first-time buyer supports, including increasing the Help to Buy grant from €30,000 to €40,000 — something we already know has not made its way into the Programme for Government.
A Fine Gael source pushed back on the notion that it will be Fianna Fáil in the driving seat, insisting that final decisions on spending have not yet been agreed.
It's understood that government leaders are set to meet with Finance Minister Paschal Donohoe and Public Expenditure Minister Jack Chambers over the weekend to flesh out the final plan on how the NDP cookie will crumble.
So for now, we wait.
Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.
Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.
Learn More
Support The Journal
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

‘Clear understanding' 15% tariff max will be applied by US to pharma exports
‘Clear understanding' 15% tariff max will be applied by US to pharma exports

Irish Times

time3 hours ago

  • Irish Times

‘Clear understanding' 15% tariff max will be applied by US to pharma exports

The Government and the European Commission have both said it is their 'clear understanding' that a maximum 15 per cent tariff will be applied by the United States to exports of pharmaceuticals and semiconductors. Taoiseach Micheál Martin said the Government, and the EU's chief negotiator Maroš Šefčovič had a clear understanding of the tariff ceiling for the two key sectors, which accounted for the bulk of Ireland's exports of €72 billion of goods to the US in 2024. Senior figures in the European Commission also said its negotiating team had been given commitments by president Donald Trump's administration on this point. 'Once they introduce tariffs on pharma, they will be at the level of 15 per cent,' said a senior EU official involved in the talks. READ MORE Mr Šefčovič, the EU's trade commissioner said yesterday he believed the 'commitment will be honoured'. Mr Martin defended the European Union agreeing to accept tariffs, saying it avoided a trade war that would have been 'ruinous' to Irish jobs and the economy. He said Ireland and Europe had to face 'new realities' and the deal that was struck in Scotland on Sunday between EU Commission president Ursula von der Leyen and Mr Trump was preferable to higher tariffs and a prolonged trade conflict. 'New realities are at play. The stability and predictability that this agreement brings is important for businesses and is important for consumers and indeed patients when it comes to the manufacturing and distribution of medicines.' [ EU-US tariffs deal at 15% preferable to 'ruinous' trade war, says Taoiseach Opens in new window ] The EU and the US sides are continuing to work out several finer points of detail. Photograph: Andrew Harnik/ Getty Images Asked about criticism that the deal was a 'capitulation' by the EU, the Taoiseach said he understood the criticism but the avoidance of a trade war was the least worst option. It is understood that during the crunch meeting between Mr Trump and Ms von der Leyen, the US president initially pushed for tariffs of 30 per cent before dropping his demand to 21 per cent, and then settling on 15 per cent. The EU and the US sides are continuing to work out several finer points of detail, including potentially extending tariff exemptions for aircraft and some medical devices to more sectors. EU officials have been pushing for carve-outs to apply to spirits and wine, which would be welcome news to the Irish whiskey industry given it is a big exporter to the US. Minister for Finance Paschal Donohoe would not be drawn on the agreement's impact on the Budget in October. There were other (positive) factors such as certainty and resultant economic activity to be considered, said a spokeswoman. A further examination would take place closer to Budget time, she added. Minister for Enterprise Peter Burke will outline key supports for Irish businesses in the face of higher tariffs at Tuesday's Cabinet meeting. They include a new market research grant of up to €35,000 which will be available from next month.

Get set for the presidential election, the dirtiest in Irish politics
Get set for the presidential election, the dirtiest in Irish politics

Irish Daily Mirror

time4 hours ago

  • Irish Daily Mirror

Get set for the presidential election, the dirtiest in Irish politics

Politics is a dirty game, but it doesn't get grubbier than the presidential election. The race for the Áras has suddenly got more interesting with the news that Michael Flatley is to seek a nomination to run. The Irish-American dancer will make a bid as President, his High Court case over his Castlehyde mansion heard last week. But if the Riverdancer goes for it, he needs to be prepared for the toughest and roughest contest in Irish politics. Campaigns are known controversies, scandals and shock revelations. Fake tweets, mud-slinging, smears and anonymous letters are all part of the game. Front runners - such as Brian Lenihan in 1990 and Sean Gallagher in 2011 - were taken out at the last minute. Celebrity candidates such as Eurovision singer Dana and charity boss Adi Roche were put through the wringer. Dana recalled it as a "a truly terrible time", while Roche described it as "mental torture". Even two-term Michael D Higgins was deemed "too old" and his predecessor Mary McAleese was called a "tribal time bomb". David Norris' bid was one of the biggest surprises, with the senator being pummelled throughout the campaign until he was eventually forced to stand down. Political pundit Ivan Yates described entering the race as "a punishment beating - it's open f***ing season on your life". David Norris pulled out of the presidential race Since the role was created by Eamon De Valera in 1937, it's been controversial. De Valera, who served two terms as president himself, once joked: "I wanted to create a nice quiet job without too much work in my old age." In 1973, there was a poignant battle between Fine Gael's Tom O'Higgins and winner Erskine Childers, whose families were on either side of the Civil War. Erskine's father had been executed by the Free State authorities, while his rival's uncle Kevin O'Higgins was the justice minister who signed the orders. But it wasn't until the 1990s that the contest got really intense. Labour candidate Mary Robinson was believed to have derailed her campaign when she gave, what was then, a controversial interview with Hot Press magazine. She told the publication that she would officiate at a stall selling contraceptives, which led to a newspaper calling the interview "the longest suicide note in history". Mary Robinson Her team initially said she was misquoted, but then the journalist Liam Fay produced an audio recording of it. Then Mary Robinson was subjected to a cutting personal attack from Fianna Fáil politician Padraig Flynn. He accused her of having a "new-found interest in her family" as part of her public persona in pursuit of the presidency. But it was all nothing compared to the scandal that engulfed her rival, Fianna Fáil's Brian Lenihan Snr. He gave an interview with an academic researcher of how he had been involved in controversial attempts to pressurise President Patrick Hillery not to dissolve the Dáil in 1982. But in an RTÉ interview, he said: "I want to say I'm absolutely certain on mature recollection I did not ring President Hillery. And I want to put my reputation on the line in that respect." It led to Fianna Fáil leader Charlie Haughey firing him a week out from the election. It triggered a sympathy vote for Lenihan, who nearly caught up with eventual winner Robinson. She made a veiled reference to Flynn's jibe when she later thanked the women of Ireland who voted for her and, "instead of rocking the cradle, rocked the system". Chernobyl children's charity boss Roche had a particularly bruising time in 1997. Anonymous letters were sent to national media outlets which falsely alleged her brother Donal de Roiste had IRA connections. Some were followed up by phone calls, saying: "Do we want somebody so close to the Provos in the Aras?" The smear campaign against Roche's campaign was vicious and entirely baseless. Dana was taken out with an attack on her family during her second attempt at the presidency in 2011. Accusations were made against her brother, John Brown, in the middle of the campaign. Dana (Image: BBC) She called the claims "vile, malicious and untruthful". He was acquitted of historic child sexual abuse charges in 2014. At one stage, it was suggested her car tyres had been knifed and there was a plot to kill her. She said afterwards: "No, I don't regret anything I've done but that was a truly terrible time." Former senator David Norris withdrew from the presidential campaign following the controversy over letters he wrote to the Israeli authorities seeking clemency for his former partner in relation to a serious crime. It finally led the academic and gay activist to pull out of the race, dramatically quoting Samuel Beckett: "Ever tried. Ever failed. Try again. Fail again. Fail better." Perhaps one of the biggest surprises in a presidential election was the takedown of 2011's front runner Sean Gallagher. Cavan entrepreneur and Dragons Den star Gallagher was set to walk into the Áras when it all went drastically wrong. Standing as an Independent, he was the favourite until he was unable to answer questions about his Fianna Fáil past. At the time, the party's brand was toxic, after the financial crash bailout, recession and persistent accusations of cronyism and corruption. The tweet that downed Gallagher's 2011 presidential campaign was fake news before the term had entered the public's consciousness. Gallagher was set to win. But in the final TV debate, before a live studio audience on RTÉ, a malicious tweet was read out by Pat Kenny, which falsely claimed a man had given him money for a Fianna Fáil fundraiser. Former presidential candidate Sean Gallagher (Image: Colin Keegan, Collins, Dublin) A momentarily panicked Gallagher said he had "no recollection" of "an envelope". To many people, that response was an unfortunate reminder of previous Fianna Fail scandals. His campaign could not recover and he ultimately lost to Michael D Higgins. However, Gallagher later received substantial damages and an apology from RTÉ over the false allegations. Subscribe to our newsletter for the latest news from the Irish Mirror direct to your inbox: Sign up here. The Irish Mirror's Crime Writers Michael O'Toole and Paul Healy are writing a new weekly newsletter called Crime Ireland. Click here to sign up and get it delivered to your inbox every week

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store