Latest news with #AppleTax
Irish Independent
22-07-2025
- Business
- Irish Independent
Housing biggest winner from National Development Plan review with €35.9bn allocated
LATEST | Today at 11:09 Housing is the biggest winner from the review of the National Development Plan (NDP), with the department to be given €35.9 billion to spend between 2026 and 2030. The Government this afternoon unveiled the updated spending ceilings for Government departments, which has come from the sale of AIB shares and the Apple Tax money.
The Journal
21-07-2025
- Business
- The Journal
How will Ireland divvy out €200 billion? 5 politicians are signing off on big decisions today
THE LEADERS OF the coalition will meet with the two money ministers this afternoon to finalise capital expenditure plans for the coming decade. Tomorrow, a review of the National Development Plan (NDP) — which sets out government infrastructure spending up to 2035 — will be published by the government. Overall, €200bn in spending is planned for the coming decade, with an additional €30bn being injected into Ireland's infrastructure since the plan was first announced. This money will be made up of the €14bn Apple Tax , the sale of shares in AIB, and money from other State funds, including the Infrastructure, Climate and Nature Fund. Taoiseach Micheál Martin, Tánaiste Simon Harris, and Minister of State Seán Canney (who represents the Regional Independents in government) will today meet with Finance Minister Paschal Donohoe and Minister for Public Expenditure Jack Chambers to flesh out which Departments the additional money will be directed to. Advertisement Speaking on RTÉ Radio 1′s Morning Ireland earlier today, Canney said the 'broad figures' for each Department will be announced tomorrow, but it will be at a later date that each Department will publish its implementation plan for the spending. Canney was tight-lipped on details about what will actually be announced, however, he stressed that it will be important that what is announced is 'functional' rather than 'award-winning'. 'Especially in housing and in hospital infrastructure,' he said. 'I think most people would like to have a home that's comfortable and functional rather than have an award-winning housing estate from an architectural and aesthetic point of view. 'So that's that's the key message in this National Development Plan, is that we're here to make sure that whilst we're putting more money in, we want to see more coming out at the other end, and want to see it coming out quickly.' On top of the main takeaways from the publication of the NDP review tomorrow, the announcement may also give us a further glimpse into what the Regional Independent TDs secured as part of their government formation deal. For example, Canney, who is minister of state in the Department of Transport with responsibility for roads, confirmed that more road projects will be given the go-ahead as a result of tomorrow's announcement. 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
Extra.ie
20-07-2025
- Business
- Extra.ie
Metro on track in State €30bn splurge on new infrastructure
The National Development Plan (NDP) launch next week will unveil a €30 billion cross-party capital expenditure bonanza, can reveal. It is understood that there will be a sufficient allocation to the Department of Transport for substantial tunnelling to begin on the long-awaited Metro. However, no specific capital spending projects will be outlined until October's Budget. It had been anticipated that the increase in infrastructure would be €20 billion, but senior sources noted: 'There are unique factors like Apple and the AIB money from the final sale of the bank's shares. It is understood that there will be a sufficient allocation to the Department of Transport for substantial tunnelling to begin on the long-awaited Metro. Pic: MetroLink 'This is a one-off opportunity to make sure when it comes to infrastructure in five years' time that we won't be saying 'sorry you can't come, we've no electricity'.' With a scaling back of current expenditure and no 'cost-of-living' package in the Budget, the Government is relying on a distribution of infrastructure projects as the central political boost. Spending allocations for key Departments such as Housing, Health, Transport and Education will be decided by the leaders. Micheál Martin and Simon Harris, along with Finance Ministers Paschal Donohoe and Jack Chambers, met last night to finalise allocations to the three biggest capital spending departments: health, housing and education. Ministers said the final division of the €30billion has not yet been finalised, and how much each department received will not be announced for a few days. Pic: Maxwell's Ministers said the final division of the €30billion has not yet been finalised, and how much each department received will not be announced for a few days. 'This NDP is going to be about €30 billion of extra expenditure . . . We've announced €20 billion, but we'll also give money to Irish Water and Eirgrid,' said a Cabinet minister. There is a €22billion capital allocation but according to ministers involved in negotiations, when additional monies from the Apple Tax rebate and the sale of AIB shares are factored in, the NDP allocation will come to €30billion. There will also be funds allocated to the Department of Education for a school-building programme and the Department of Transport for a major road-building programme. Pic: Colin Keegan, Collins Dublin There will be major announcements of funding for energy, water and other fundamental infrastructure. There will also be funds allocated to the Department of Education for a school-building programme and the Department of Transport for a major road-building programme. Ministers confirmed the Dublin Metro will go ahead. 'The major spending on the Metro comes later in that project's timeline,' said a Cabinet source, 'so it's not a very contentious matter in Government at all. 'But it's fair to say the Metro affects a number of Cabinet ministers, including Jack Chambers, Paschal Donohoe and Darragh O'Brien, it will run through two of their constituencies and significantly benefit Jack's constituency.' It follows weeks of bilateral meetings and engagements between different Government departments and Minister Chambers's department, as well as a public consultation. Pic: Fran Veale Ministers stressed that many 'departments aren't settled'. 'There are major outstanding issues in Housing and Health this weekend,' said a source. 'It won't be a list of 10 roads, here's five schools, and all that,' said a Cabinet source, 'you'll see on Tuesday the allocation for each department for the next five years, and then the ministers will do the work on their projects, which will be announced on Budget Day.' Ministers explained the lack of specifics. 'We won't be able to announce Garda stations, etc, for two reasons,' said a Cabinet source. 'The first reason is a big announcement like that, or series of announcements, would just be kind of lost in the middle of the summer silly season, the public aren't listening. Public Expenditure and Infrastructure Minister Jack Chambers will inform Cabinet colleagues that there is profound uncertainty surrounding global trade, and the threat of tariffs by US President Donald Trump poses a significant risk to the economy. Pic:) 'Secondly, because we're going to be having a big giveaway budget, this will mean capital would be a big part of our budget story. It's a capital budget, announcing money we don't have to spend today or tomorrow.' Public Expenditure and Infrastructure Minister Jack Chambers will tell Cabinet colleagues there is profound uncertainty around global trade, and the threat of tariffs by US President Donald Trump poses a big risk to the economy. He will say the best way to safeguard the economy, protect growth, jobs and living standards, and increase competitiveness is to address infrastructure deficits through investment in the key growth-enabling sectors of the economy. The review, which has been fast-tracked, has a significant focus on scaling up housing delivery by providing big 'once-in-a-generation capital funding into Irish Water, ESB and EirGrid. The key utilities' difficulties in delivering services to new housing developments has been identified as a significant barrier to scaling up housing. Ministers will also be briefed on work to reform the country's delivery systems so project life cycles can be reduced and better value for money can be achieved. The review of the NDP will allocate over €90 billion over the next five years. Tuesday's publication will set out departmental capital ceilings to 2030 and overall capital investment to 2035. Government ministers will outline specific programmes and investment they will prioritise in October's Budget. It follows weeks of bilateral meetings and engagements between different Government departments and Minister Chambers's department, as well as a public consultation. Ministers stressed that the economies of Britain, Germany, France and Italy are already in trouble. And that is before Trump has even rolled out his trade tariff scheme. Cabinet sources and officials across the Government warned that widespread concerns about a pending global economic downturn are influencing all economic and fiscal decisions in the Government. Our sister publication, the Irish Mail on Sunday, revealed last week that there will be no cost-of-living payments in the Budget. There are no plans to have double welfare payments or payments to help households. It is likely there will be targeted social welfare increases and there is already a raising of the ceiling of qualification for winter fuel payments factored into the finances. There were accusations of cynical vote-buying when the Government brought in household supports in last year's Budget.
The Journal
19-07-2025
- Business
- The Journal
What's the latest on the Apple Tax? All (or most) will be revealed next week
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
Yahoo
08-07-2025
- Business
- Yahoo
The best early Prime Day Apple deals include the iPad mini at a record-low price
Remember the old joke about the "Apple tax"? That you had to pay a premium for Apple's admittedly premium gear? Not so much anymore, and definitely not during Amazon Prime Day: Lots of the company's top products are on sale, a few of them at or near their lowest prices ever. We're talking AirTags, AirPods, iPads and more. During this brief, shining window, it's all premium, no tax. (Er, except sales tax. Not much we can do about that.)Normally, Apple discounts are small, short-lived or limited to older models — sometimes all three. But Prime Day shakes things up. Retailers like Amazon know shoppers are watching closely, and that means steeper price cuts, more products on sale and really great deals on current-gen gear. Of special note: We're seeing prices on most current AirPods models drop to new all-time lows, so it's a better time than ever to pick up AirPods Pro, AirPods 4 or AirPods Max headphones. Of course, that means this gear might sell out. So if you see a deal you like, don't wait. Otherwise you might be waiting till Black Friday to see it again. If you have Amazon Prime, you'll get free shipping, of course. Not yet a member? No problem. You can sign up for your free 30-day trial here. (And by the way, those without Prime still get free shipping on orders of $35 or more.) The reviews quoted above reflect the most recent versions at the time of publication.
