10. Deputy Séamus McGrath asked the Minister for Finance the percentage number of households that opted to defer payment of the local property tax in the years 2023, 2024 and 2025; and if he will consider reducing further the interest rate penalty on the amount accrued-deferred. [16042/25]

Sentiment score: -0.08

I ask the Minister to outline the percentage of households that opted to defer payment of the local property tax in the years 2023, 2034 and 2025 and if he will consider a further reduction in the penalty on the amount that has been deferred.

Sentiment score: -0.64

I thank the Minister for that information. I accept 0.6% is a low figure. That suggests the cost to the State would not be significant if there were to be a further reduction in the interest penalty. I acknowledge there was a change in 2021 from 4% to 3%. One of the flaws with the LPT is it is not based on a household's income; it is based purely on evaluation of the property. We know there will be properties in certain locations with high value but very often those households have a low income. It may be a household reliant on the State pension. It is unfair to charge a penalty of 3% to those households if they opt to defer the property tax based on income threshold grounds or hardship grounds. We should consider a reduction. I note in the changes announced that local authorities will have the option of increasing the property tax by up to 25%. That will allow scope for these households to be exposed to even greater liability. I ask the Minister to consider, in time, looking at the penalty again.

Sentiment score: -0.05

I appreciate that the Minister will keep this under review. I acknowledge the change in income thresholds, which is welcome. I will speak on the tariffs for a moment. As a Deputy representing Cork South-Central, we have a large concentration of US companies. I live only a couple of miles from Ringaskiddy, a large industrial base. I welcome the Minister's comment earlier that our first and foremost priority is negotiation and finding ways forward but it is critical we have a strong strategy for our multinational and FDI sectors to show them the Government will take a step-by-step approach with them in addressing the economic challenges we face. It is vital we show that support to them and show that we will be shoulder to shoulder with them so that we can navigate these difficult times. They are unprecedented times. I know the EU will respond as a collective but Ireland is particularly exposed. Within Ireland, the region I represent is particularly exposed. I urge the Minister to ensure every effort is made to find solutions and negotiate our way out of this. Obviously, the EU will respond in due course in terms of potential reciprocal tariffs.

Sentiment score: 0.16