I propose to take Questions Nos. 7, 60 and 197 together. Regarding the number and value of bonds sold in Ireland, the Central Bank of Ireland does not regulate the bonds as products and does not collect specific data on the number of bonds sold. The regulatory function of the Central Bank is limited to ensuring that the disclosure document for the offer contains all the necessary information required by the EU prospectus regulation. The bonds themselves are not listed for sale on the Irish Stock Exchange. The legislative framework governing the approval by the Central Bank of a prospectus is provided by the EU prospectus regulation. This regulation, which takes direct effect across all EU member states, is not a minimum harmonisation document but a legal framework for all member states to fulfil the requirements as set out. As such, ensuring consistency of application of the rules across the Union is an important aspect of the regulation. Currently, the Central Bank, as the competent authority under the prospectus regulation, is required to assess prospectus documentation on the grounds of completeness, consistency and comprehensibility. The Central Bank does not endorse the issuer or the securities by way of prospectus approval. It can only refuse the approval of a prospectus where it has a legal basis to do so. Where documentation meets the standards of the regulation, the Central Bank is required to approve a prospectus. It is the position of the Central Bank, as set out by the Governor, that an advisory opinion of the ICJ or, indeed, the processes of the International Criminal Court do not constitute grounds for the Central Bank to refuse the prospectus of the Israeli bond programme. I do not intend introducing legislation that forbids the Central Bank of Ireland to fulfil its regulatory duties.

Sentiment score: 0.13

I absolutely refute the allegations and language used by the Deputies. This Government could not be clearer in our condemnation of the behaviour and loss of life that is taking place in Gaza and the untold suffering those people have endured. We have made that case very prominently within the EU and at a global level. As Minister for Finance, I am obliged to tell the truth about the work that the Central Bank of Ireland does and the legal framework within which it must operate. It must operate in that legal framework because that legal framework and how the bank discharges its duties is fundamental to the work it does and, in turn, to how our economy operates and how it regulates activity here within Ireland and in Europe. I have outlined the legal mandate that the Central Bank should fulfil. The Deputies are already aware of it, and the view of the Central Bank Governor in relation to it. I am not going to say to Dáil Éireann here today that I can do anything that I do not believe is legal and I am not going to say that I can do something that would imperil or undermine the independence of the Central Bank. We are clear in our condemnation of what has happened in Gaza. We are clear in laying out what we believe should stop and the support we have made available to those who are suffering in Gaza and in the Middle East. I do not accept the language that the Deputy has used in respect of the Central Bank. I have laid out its role very clearly.

Sentiment score: -0.00

Let me return in a moment to deal with the substantive issue raised by Deputy O’Callaghan but before I do so, I will reply to Deputy Murphy. At a time when we seek to look at how politics can unite people and bring people together, I am reminded again and again that for somebody who claims to be on the left and someone who claims to be part of a movement that is about tolerance and inclusivity, there are few figures who serve that agenda less than the Deputy. His language is consistently poisonous.

Sentiment score: -0.09

His language consistently looks to demonise those who are acting in good faith. He, in turn, in his own way is a contributor to the decay of standards and how we can engage with each other and debate issues in a way that is respectful. Every time he contributes on such a matter, he does it in a way that seeks to demonise an opponent or deny good faith.

Sentiment score: 0.54

That is the Deputy's contribution. I am responding back to charges he laid against me that I am compelled to respond back to.

Sentiment score: -0.11

On the substantive issue that is being raised here today, I reiterate the clear view of the Government on what has happened in Gaza and the Middle East. However, there are a particular number of responsibilities that the Central Bank is obliged to discharge that are rooted not just in national and EU law and it discharges those responsibilities. The Governor of the Central Bank has outlined that the other extremely important issues that are being raised here are not ones that in his view allow him to effect the discharge of those duties. That is a matter of law as laid out and how the Central Bank discharges its duties is so important to our economy and to the financial markets it regulates in turn for the benefit and stability of our economy.

Sentiment score: 0.40

The existing vehicle tax structures in the State have a strong environmental rationale, with the more pollutant, fossil-fuelled cars paying higher rates of tax, between motor tax, benefit in kind, BIK, vehicle registration tax, VRT, and the nitrogen oxide, NOx, charge. In contrast, low-emission cars and electric vehicles, EVs, are subject to lower rates of tax. I know the Deputy will be aware of it but it I want to emphasise the point that our tax code already recognises the differing contributions that those vehicles make to carbon emissions in our economy and society. The current policy approach aims to incentivise the uptake of zero- to low-emission vehicles, which will help to reduce Ireland’s transport emissions. A number of tax measures are in place to support the uptake of EVs, including preferential rates of BIK; BIK tapering relief of €35,000 in 2025 to €10,000 in 2027; a BIK exemption where an employer provides a facility for the charging of an EV; VRT relief of up to €5,000; and the introduction of an emissions-based VRT system for light commercial vehicles that will apply from 1 July 2025 in the Finance Act 2024. Other measures are in place such that EVs also benefit from low rates of annual motor tax. New proposals are considered and current vehicle tax policies are kept under review as part of the tax strategy group which is the transparent process we have in place to advise myself and the Government on the taxation options that are available to the Government in advance of the budget, the policy merits and demerits and what the costs of those options would be.

Sentiment score: 0.37

I appreciate the case the Deputy is making for the further support of EVs. It is interesting to see the growth that has taken place and I hope it will continue in the coming years as EV technology improves and as we do a better job of rolling out the charging network needed to facilitate those who use EVs. We have made reasonable progress but it is very obvious that we need to do even more, particularly in some cities, as Deputy Gogarty raised with me last week. I have outlined the different measures in place. I will of course consider whether any further steps are needed, and I thank the Deputy for raising this. I have to remind the Dáil again that this is all subject to budget decisions. All of these options will have costs and we have to look in the round at all the decisions we make in budget 2026. I thank the Deputy for acknowledging the measures that are in place, particularly with regard to motor tax. I know the Deputy wants this to go lower but all these things will be considered in October.

Sentiment score: 0.26

I will certainly take on board what the Deputy said and make sure officials in the Department consider it. I am not doubting for a single moment the impact of the various measures she has suggested or what they could do to enhance the further take-up of EVs. We will certainly consider all of that in the coming weeks and months. I do, however, need to relate it back to the broader environment we are in, which she very well understands. We are at a point at which we are seeing a very big change take place in the economy of the world, which will have effects here in Ireland. We need to ensure that any changes we make in the tax code are affordable and, in particular, support jobs and enterprise in Ireland. I will offer that as the general point. In truth, a lot of the individual measures the Deputy has raised would not be huge budgetary items. However, in the round, pulling all of these things together sometimes has a big cost. I assure her that I will certainly consider the issues she has raised and see what more could be done to support the roll-out of EVs in Ireland.

Sentiment score: 0.30

I thank the Deputy for raising this. Just to add to his point, the greatest challenge of all to the livelihoods of those he is raising today is if the changes that happened last night become bigger and permanent and if they fundamentally change how our global economy works. In order to see if we can avoid that happening, we need to have negotiation and engagement with the US, as the Deputy has acknowledged along with many other Deputies today. It is difficult to see how we get to that happening unless the European Union, including us, indicates that we are willing to respond and take action. With regard to the cause of any long-term harm that we could face or the economy of Europe could face, the first instigator of that has been what has happened in the US, not measures that we may have to very regretfully consider here in Ireland and Europe. In the absence of those measures that have been announced by President Trump, as the Deputy well knows and as he inferred in the point he put to me, we would not even be considering actions that the EU needs to take with regard to trade. To answer the question he put to me regarding my engagement, on Friday of next week there will be a meeting of all finance ministers of the European Union in Warsaw. In advance of that meeting, beginning, I hope, tomorrow, I will be talking to my colleagues about the issues the Deputy raised. On Monday, the Tánaiste will be meeting trade ministers of the EU. I know the Taoiseach has engaged with the Commission on this and will be doing so with other Heads of Government. That is all under way. It has begun and will only intensify in the days and weeks that await all of us.

Sentiment score: 0.15

To reconfirm to the Deputy, we have already raised the different sectors within the economy. The food and beverage sectors he raised are a really important part of the communities he represents and contribute to his local economy. Those issues have been raised. The Tánaiste formally communicated with the Commission, I believe on Monday, on this, making the case on the food and beverages sector and aligning ourselves with other economies that have been affected in a similar way. To be candid with the Deputy, however, that has really been moved on by the decision the United States have made to apply in effect universal tariffs to all that is coming out of the European Union. We have indeed modelled that and published the modelling a week ago. As we become clearer on what the EU will do, we will publish a revised economic update, probably indicating additional scenarios. We will do that in the next few weeks as part of the budget process we normally instigate. We will publish what is called an annual progress report, which will outline scenarios, giving our best answer to the question the Deputy is pointing to.

Sentiment score: 0.16

I thank the Deputies for the questions they have raised. The very important companies Deputy Neville mentioned, Kerry Group and Intel, form an excellent example of making the case for trade because they are also present in the United States of America. They sell there and have a large presence there. I will, on behalf of the communities the Deputies represent and that other colleagues have raised, engage heavily within the EU. I outlined to the House earlier that a meeting of finance ministers of the European Union would take place on Friday. Deputy Moynihan asked what I would do in advance of that. I will engage with colleagues from tomorrow on this. Responding via the EU is the best way for the Irish people and Government to influence what is happening at a global level. On the point Deputy Tóibín made, we of course want a negotiation or de-escalation but I make the point I have made a number of times this morning: it is difficult to see how such a negotiation could take place unless the European Union is willing to outline that we would, regrettably, have to respond to the tariffs put in place and respond in a proportionate way to what the administration of President Trump has done. We will engage with the US and within the EU to make the case for the medicine and life science sector.

Sentiment score: 0.21

Property owners who are experiencing financial difficulty may avail of a wide range of flexible payment options in respect of current local property tax, LPT, liabilities and for any previous years. To answer the Deputy's question on those accessing it, the number is quite low: 0.6% of all taxpayers are accessing it across the years 2023, 2024 and 2025. Ahead of the revaluation in 2021, I reduced the interest that applied to deferred LPT from 4% to 3%. Given I reduced the rate last time, I do not propose to do so again. What I have done is increased the income thresholds at which deferrals can be accessed. We have seen income growth in our economy, despite the cost-of-living pressures many have faced, and I want to ensure the ability of hard-pressed homeowners to access those deferral options is maintained. The evidence is the vast majority of people look to pay their LPT bill on time. I know it is a big bill but those who find it difficult to pay upfront can spread the payment across the year. The number is low but we are looking to deal with the issue the Deputy raised by increasing the income thresholds instead.

Sentiment score: 0.08

To bring to life the figures and move them beyond percentages, the overall number of properties that accessed the deferral option was between 11,800 and 12,500, so it is indeed a low number. The Deputy made a point about the ability for LPT to be varied upward by 25%. One of the things I have learned from watching how this tax operates is this. I believe 25 out of 30 local authorities have increased their LPT beyond the base rate, but the average level of increase is 9%, which is a fair bit below the 15%. Many local authorities, many of which are governed by coalitions between our two parties, have been successful in persuading voters that paying a bit more can lead to better services and amenities within their community. I know the Deputy appreciates that. That is why we put in place the change of going up by 25%. I will take on board the point he made and I hope the change in the income thresholds will be of some help to those who find this difficult.

Sentiment score: 0.34

I referenced earlier the large number of significant employers clustered in particular parts of our country. This is, for want of a better phrase, because of the ecosystem and their ability to upskill people working in communities who then leave to go to employers in similar sectors located in similar parts of our country. There are some very large employers, and one in particular that Deputy McGrath is referring to. I absolutely understand that. The Government and I have engaged with individual employers on this. We are proud to have them in Ireland. They have contributed to the growth of our country but we also believe we have played a role in contributing to their success here and back home in the US also. Of course we will continue to engage with these very important employers at what is also an unprecedented time for them. All Deputies have emphasised this to me today.

Sentiment score: 0.36

I propose to take Questions Nos. 11 and 15 together. The Single Market is the best answer we have to this. We are speaking about the need to grow trade to take the place of trade that may be lost. The best place to do this is on our own doorstep. We have on our doorstop this incredible creation, which Irish politicians and diplomats have spent decades trying to craft, which is the Single Market. We need to plough on with realising the potential it still offers. We also need to continue to remind and make the case to the people of Ireland that the cause and catalyst of the difficulty we are now confronting are the decisions that have been taken by President Trump. We acknowledge that there are issues relating to the flow of trade and the impact these can have on communities. We are all aware of them and we all need to engage. The measures that have now been instigated will have a significant effect on the world and on Ireland in line with the forecast the Department of Finance published two weeks ago. The only reason the European Union wants to consider measures to respond is in order that we can approach the negotiating table in a strong position. We do so because of the Single Market. We must also be willing to outline the steps we are willing to take. The cause of this is not action taken by the European Union.

Sentiment score: 0.12

Deputy Geoghegan has laid out a compelling case, with which I agree, regarding Europe's place in the world and what we have built up in the Single Market and by means of the rule of law. The argument we need to make is that if people invest in Ireland and Europe, if they employ people in Europe and if they want to create new ideas and be entrepreneurs in Europe, they will do so in a very stable environment in which they can be clear about the rules of regulation, trade and taxation. We need to make the case for this and we will do so in the time to come. With regard to Deputy Connolly's point on diversification, we need to continue to diversify our economy. This is not something we will be starting, however, because it is already under way. For many decades we have been supporting our indigenous employers through Enterprise Ireland. We have also diversified the number of international employers we have but we need to continue this work.

Sentiment score: 0.24