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The Irish Sun
7 hours ago
- Business
- The Irish Sun
Blow for millions of Irish workers after tax break decision as coalition blasted over new €100bn splurge details blunder
HARD-PRESSED workers are in line for little to no income tax breaks in the upcoming Budget amid concerns about the impact of Donald Trump's tariffs. The Advertisement 5 Finance Minister Paschal Donohoe has a €1.5billion tax package to play with Credit: Niall Carson/PA Wire 5 Minister Jack Chambers issued a warning about the impact of tariffs Credit: Niall Carson/PA Wire 5 Coalition leaders announced a €100billion building plan for the future of the country Credit: Niall Carson/PA Wire The Summer Economic Statement fires the starting gun on Ireland pulled in bumper On the back of this, the Government is planning to spend €116billion in next year's Budget – an increase of €9.4billion on last year that the coalition leaders will now chop up on new measures. Finance Minister Advertisement Read more in Money Just last month, the Government committed to slashing the VAT rate for restaurants and cafes from 13.5 per cent to nine per cent – a move that will cost €1billion. This will leave just €500million for other tax cuts including the rent tax credit, the help to buy scheme and income tax changes. And that's before the impact of Donald Trump's tariffs are baked into the Budget, with the Finance Minister warning that they will have to cut back their Budget plans if a In last year's Budget before the general election, the Coalition spent more than €1.5billion slashing income taxes and the USC which boosted the average worker by around €1,000. Advertisement Most read in the Irish Sun With the Government committed to cutting the VAT rate for the hospitality sector at a cost of €1billion – it looks like workers will be left with little to no boost in their pay packet in the upcoming Budget despite the ongoing Challenged on this at today's announcement, Minister Donohoe told the Irish Sun: "It would not be right to grow the scale of our tax package with everything that we are confronting at the moment." Finance Minister Paschal Donohoe breaks down Trump tariff impacts on Irish He said the Irish economy generates between €1.3 and €1.5billion each year through income growth. Minister Donohoe added: 'If we were to have a bigger tax package than that, I don't think it would be the right thing to do given all we are confronting. Advertisement 'But the exact component of what the tax package and the other tax measures that will be in it, I can't answer that question until Budget day.' The Irish Sun pointed out that the Government is willing to commit to VAT cuts for hospitality businesses before the Budget but will not discuss whether workers will be given a break. TRADE-OFFS Minister Donohoe replied: 'I'm answering directly the question regarding what are the trade-offs in relation to this. 'It is really important to be open about what the trade-offs are. Advertisement 'If you were to bring forward a tax package that was to fund a full year measure in relation to VAT the cost of that would be around €1billion and then if I was to add to that other measures that we have done in the past, we would have a tax package that is far bigger than I believe would be safe.' Instead of breaks for workers, the upcoming Budget will focus on three main areas – increase investment in Ireland, improve public services and build up the country's financial resources to guard against future shocks. SPENDING COULD BE CUT BACK Today's Budget spending plan was based on a situation where there are no trade tariffs between the US and the EU. However, with 10 per cent tariffs currently in place and US President Donald Trump threatening to hike that up to 30 per cent – it looks like the Budget spending will have to be cut back before the announcement that is due in October. Advertisement Public Expenditure Minister Jack Chambers issued a grim warning about the impact of tariffs with one third of the country's income coming from corporation taxes - €15billion of which could be wiped away. 'If we were to have a bigger tax package than that, I don't think it would be the right thing to do given all we are confronting." Paschal Donohoe He said: 'If there is a serious economic deterioration we absolutely will have to revisit what we're setting out today to be responsible and that is in the context of the changing global position. BUDGET WARNING 'So this is very much caveated by what could happen in the coming weeks and we won't make decisions that aren't sustainable or affordable for the Irish economy – that is absolutely clear.' The Budget warning came on the same day that the Coalition leaders revealed their plans to spend €100billion on building projects over the next five years – but wouldn't reveal what projects. Advertisement The Government parties have spent weeks negotiating a review of the National Development Plan which sets out what will be spent on building roads, hospitals, public transport, housing and energy infrastructure over the next five years. This includes how the Government will spend the €14billion Apple tax windfall and the billions made from the sale of the State's shares in AIB. FEW DETAILS The last NDP included a list of projects that were being funded across the country with specific details on how much each road, hospital or railway line would be allocated. However, this time around the Government have simply allocated cash to specific departments with detailed cash commitments only given to a handful of major projects. Advertisement 'If you were to bring forward a tax package that was to fund a full year measure in relation to VAT the cost of that would be around €1billion and then if I was to add to that other measures that we have done in the past, we would have a tax package that is far bigger than I believe would be safe.' Paschal Donohoe For example, some €2billion is being allocated to the Dublin Metro project – a railway line that will link the city centre with the airport and has been in the planning phase for decades and has already cost €300million. However, there were no cash promises for specific roads, hospitals or housing projects, with Coalition leaders instead claiming that these would be announced over the coming weeks by specific ministers. 'FUNDAMENTAL MESSAGE' Taoiseach He said: 'The last NDP was too big a document if I'm frank. The fundamental message today is the overall investment that is going to be allocated to infrastructure and housing. Advertisement 'It is quite unprecedented. Each minister will have to prioritise and they have work to do with their stakeholders and departments in terms of prioritising the allocation of their funding and prioritisation is going to be key.' Housing received the biggest Budget boost from the €100billion NDP review with €36billion given to Minister James Browne. DEPARTMENT ALLOCATIONS This was followed by the Department of Some €3.5billion will be used to boost the country's electricity grid and €12billion will be used to improve water infrastructure across the country, which will help build more homes. Advertisement Taoiseach Martin also confessed that the Government was now scrapping the 2:1 spending rule at the Department of Transport that saw twice as much cash spent on public transport than on roads. The rule was brought in by former Transport Minister Eamon Ryan but Martin today claimed it was 'unworkable' – despite being Taoiseach when it was introduced. COME CLEAN PLEA Opposition parties today blasted the Government's new National Development Plan for being scant on details as they called on the Coalition to come clean with where the cash was being spent. Advertisement He said: 'Ministers are scant in detail but they are now going to have to explain which Social Democrats TD Rory Hearne claimed the huge boost in funding for housing will not help solve the He said: 'No amount of money can solve the housing crisis if the government refuses to change its approach to providing social and affordable homes - today's 46-page document gives me no reason to believe that it intends to do otherwise. 'Last month's shocking Advertisement 5 Workers are in line for little to no income tax breaks in the upcoming Budget Credit: Getty Images - Getty 5 Opposition parties blasted the National Development Plan for being scant on details Credit: Getty Images - Getty
The 42
8 hours ago
- Business
- The 42
Two swim organisations settle legal row over 'duplicate' Dublin swims
LEGAL PROCEEDINGS BETWEEN two swim groups over who is the rightful owner of two annual Dublin swims have reached a settlement. At the end of June, Leinster Open Sea (LOS) filed proceedings against Swim Ireland regarding the ownership of the annual Dublin City Liffey Swim and the Dún Laoghaire Harbour Swims. It included an application for an injunction to prevent Swim Ireland from organising 'duplicate' Liffey Swim and Dún Laoghaire Harbour races. Today, Swim Ireland has said that it is 'delighted' to announce that a settlement has been reached that 'unequivocally reaffirms Swim Ireland's proprietary rights and long-standing stewardship of these cherished events'. Advertisement There was confusion last year as both LOS and Swim Ireland ran competing Liffey Swims after a row broke out over who should host the landmark swim. Leinster Open Swim had been the organiser of the event for a number of years, but had done so recognised by Swim Ireland. Competitors wait on the quays to take part in the 90th Annual Liffey Swim through Dublin in 2009. Niall Carson / Alamy Stock Photo Niall Carson / Alamy Stock Photo / Alamy Stock Photo A rift between the two, which included Swim Ireland stating that it had 'governance concerns' over the operations of Leinster Open Sea, resulted in the separate bodies ploughing ahead and holding their separate swims at the same location. Swim Ireland's statement today said that it welcomed LOS's acknowledgement that 'Swim Ireland owns all property rights in both the Dublin City Liffey Swim and the Dún Laoghaire Harbour Swim, which have been running since 1920 and 1930 respectively'. It added that it is hopeful that 'all organisations involved in aquatic sports will eventually choose to operate within established national governance frameworks, ensuring consistency and fairness for all participants.' It extended an invitation to all clubs and organisations to affiliate and collaborate. Subject to final licence from the relevant local authorities, one Dublin City Liffey Swim and one Dún Laoghaire Harbour Swim, will proceed as scheduled for 2025, delivered by Swim Ireland. The Dún Laoghaire Harbour Swim is set for 3 August, and the Dublin City Liffey Swim for 13 September. Leinster Open Sea's legal representatives have been contacted for comment. Written by Emma Hickey and posted on
The Journal
9 hours ago
- Business
- The Journal
Two swim organisations settle legal row over 'duplicate' Dublin swims
LEGAL PROCEEDINGS BETWEEN two swim groups over who is the rightful owner of two annual Dublin swims have reached a settlement. At the end of June, Leinster Open Sea (LOS) filed proceedings against Swim Ireland regarding the ownership of the annual Dublin City Liffey Swim and the Dún Laoghaire Harbour Swims. It included an application for an injunction to prevent Swim Ireland from organising 'duplicate' Liffey Swim and Dún Laoghaire Harbour races. Today, Swim Ireland has said that it is 'delighted' to announce that a settlement has been reached that 'unequivocally reaffirms Swim Ireland's proprietary rights and long-standing stewardship of these cherished events'. There was confusion last year as both LOS and Swim Ireland ran competing Liffey Swims after a row broke out over who should host the landmark swim. Leinster Open Swim had been the organiser of the event for a number of years, but had done so recognised by Swim Ireland. Advertisement Competitors wait on the quays to take part in the 90th Annual Liffey Swim through Dublin in 2009. Niall Carson / Alamy Stock Photo Niall Carson / Alamy Stock Photo / Alamy Stock Photo A rift between the two, which included Swim Ireland stating that it had 'governance concerns' over the operations of Leinster Open Sea, resulted in the separate bodies ploughing ahead and holding their separate swims at the same location. Swim Ireland's statement today said that it welcomed LOS's acknowledgement that 'Swim Ireland owns all property rights in both the Dublin City Liffey Swim and the Dún Laoghaire Harbour Swim, which have been running since 1920 and 1930 respectively'. It added that it is hopeful that 'all organisations involved in aquatic sports will eventually choose to operate within established national governance frameworks, ensuring consistency and fairness for all participants.' It extended an invitation to all clubs and organisations to affiliate and collaborate. Subject to final licence from the relevant local authorities, one Dublin City Liffey Swim and one Dún Laoghaire Harbour Swim, will proceed as scheduled for 2025, delivered by Swim Ireland. The Dún Laoghaire Harbour Swim is set for 3 August, and the Dublin City Liffey Swim for 13 September. Leinster Open Sea's legal representatives have been contacted for comment. 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
11 hours ago
- Business
- Extra.ie
Five key takeaways as Government announces €112bn infrastructure plan
The Coalition's new infrastructure plan was announced in Government Buildings today with €112bn set to be spent up to 2030. Speaking to a junior minister said that the plan will focus on the functionality of projects as opposed to 'award-winning' designs. However, the lack of detail with regard to any specific projects was questioned as the Taoiseach and Tanaiste detailed the proposed outlays, saying it was the 'Government's plan to transform Ireland.' (left to right) Tanaiste Simon Harris, Taoiseach Micheal Martin and Sean Canney, Independent TD for Galway East, depart after speaking to the media at a press conference for the launch of the Government's Summer economic statement and the National development plan for the next 5 years, at the Government Buildings, Dublin. Picture date: Tuesday July 22, 2025. PA Photo. Photo credit should read: Niall Carson/PA Wire In the plan, €200billion will be spent across various departments over the next ten years. It is understood that negotiation between most of the large departments and Minister for Public Expenditure, Jack Chambers, went down to the wire last night over what they would be allocated. The plan, funded by taxpayers' money, some of the €14billion in Apple tax money and windfalls from sold State shares in AIB, focuses on housing, energy, water and transport infrastructure. Speaking on Tuesday afternoon, the Taoiseach stressed that housing was still the Government's priority with a total of €36bn set to be spent on housing and water over the next five years. However, there was some awkwardness as the Taoiseach claimed €36bn would be spent on housing 'excluding water' while an official document detailing the plan showed the €36bn allocated would include close to €7.7bn on water. Tánaiste Simon Harris, Taoiseach Micheál Martin and Sean Canney, Independent TD for Galway East, speaking at a press conference for the launch of the Government's Summer Economic Statement and the National Development Plan for the next five years. Pic: Niall Carson/PA Wire Although a plan for the Dublin Metro was not specifically detailed, over €22bn has been allocated for the transport sector up to 2030 with an official plan with regard to the metro expected in the coming weeks or months. The Taoiseach said that the Dublin Metrolink has now been committed to and details will be forthcoming. As to when actual tunnelling will begin on the long-awaited project, no specific information has yet been forthcoming. When grilled on the lack of detail, the Taoiseach said that the plan simply outlined the 'envelopes' for each respective department. He added that it is up to the department heads/Ministers to decide how those envelopes or budgets will be allocated in terms of projects. Tánaiste Simon Harris and Taoiseach Micheál Martin speaking at a press conference for the launch of the Government's Summer Economic Statement and the National Development Plan for the next five years. Pic: Niall Carson/PA Wire Explaining this approach to Junior Transport Minister Sean Canney said: 'It gives departments the flexibility to look at the projects they have coming up, look at which projects are shovel-ready, and we can get them moving as quickly as possible, because in every department there is an urgency to implement, rather than to be creating more strategies.' Defence spending is also set for a major increase with €1.7bn set to be allocated over the coming years. The full National Development plan can be found here.
South Wales Argus
a day ago
- Climate
- South Wales Argus
Parts of Northern Ireland saw almost full month's worth of rain in 24 hours
Warnings over rain applied to significant parts of the island of Ireland on Monday following a night of heavy downpours. The deluge resulted in localised flooding across parts of the island following a series of weather alerts on Sunday, with the unseasonably high rainfall dampening the start of the week. (PA Graphics) The weather also brought difficult travelling conditions, lightning damage and poor visibility in the worst-affected areas. The Met Office issued a yellow-level rain warning for the east coast of Northern Ireland that is due to expire at 6pm. Forecasters had warned that some areas could see half a month's worth of rain in less than a day. The region normally records an average of 89mm of rain in July but falls of between 50-75mm had been predicted over a period of just 12 to 18 hours. Killowen in Co Down recorded 68mm of rain since 5pm on Sunday, the Met Office said around 2pm on Monday – the highest amount of rainfall across the UK. It normally sees 80.75mm of rain for the whole month. Elsewhere, Murlough in Co Down saw 60mm of rain in the same period – 87% of its July average of 69mm. The Met Office said other areas likely experienced higher amounts. Meanwhile, the heavy rain brought flooding at the Marble Arch Caves, a famous tourist attraction in Co Fermanagh. A spokesperson said it had never happened before, describing the occurrence as a 'highly unusual weather event'. A couple who were part of an evacuation prompted by a rush of water said they would not be put off returning. A cyclist rides through flood water on the Bay Estate in Dundalk, Co Louth (Niall Carson/PA) The agency had put a 24-hour yellow-level rain warning in place for Antrim, Armagh and Down until 6pm on Monday. A more intense amber-level warning was temporarily put in place overnight but lifted early. Forecasters had warned that there was a risk that homes and businesses could be flooded. The Met Office also cautioned that some communities could be cut off by flooded roads while fast-flowing or deep floodwater could pose a danger to life. Northern Ireland saw heavy rain in the last 24 hours, with 68mm recorded at Killowen – and likely higher amounts elsewhere. The southeast also picked up some fairly large totals this morning 🌧️ Here are the rainfall totals since 5pm yesterday 👇 — Met Office (@metoffice) July 21, 2025 A yellow-level thunderstorm warning was in place for the western half of Northern Ireland between midday and 8pm on Sunday. Flooding affected routes in Fermanagh with the Marble Arch Road, Florencecourt, and Sligo Road, Enniskillen, both described as impassable by police for a time. A PSNI spokeswoman said: 'Please take care when travelling, slow down, and exercise caution on affected roads.' In the Republic of Ireland, a status orange rain warning for Dublin, Louth, Meath and Wicklow came into effect from midnight and expired at 2pm on Monday. Irish national forecasting agency Met Eireann said there was a chance of thunderstorms amid persistent and heavy rain. A less severe warning for the Kildare region also expired at 2pm. The downpours across Sunday and Monday brought localised flooding to parts of Limerick and Louth. The warnings followed other alerts about thunderstorms in the east of the country and increased rain in the south-west on Sunday.
