4. Deputy Peadar Tóibín asked the Minister for Finance if he will outline Exchequer returns and tax receipts for January 2025; and the reason they have increased since this time last year. [5104/25]
Sentiment score: 0.09
Ireland is the most exposed country in Europe as regards the potential changes in tariffs and corporation taxes with the United States. We are enormously exposed. Our dependence on a bargain-basement corporation tax economy which has been built up by the Government over the past ten years means we are now under significant threat. What actions is the Minister taking to engage with the US Government on the tariff issue and the corporation tax issue?
Sentiment score: 0.03
It is related.
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For 2023, income tax was roughly €33 billion, corporation tax was the next largest, at €24 billion, and VAT came in at about €20 billion. Those figures and the figures the Minister has just outlined show that there is a significant exposure for this country. Because of the potential changes with the US Administration, we could be looking at significant job losses, significant corporation tax losses and a significant fall in income taxes in this country, as well as austerity being brought into place because of the lack of taxation within the budgets to be able to pay for the services that have been built up over recent decades. What actions is the Minister taking with the US Administration to make sure that those tax bases do not evaporate over the next while?
Sentiment score: 0.03
Foreign direct investment, FDI, is considered a transitional economic policy. It is usually developed from a non-developed economy to try to get into a developed system. When that economy has developed to a good stage, most economies then try to develop indigenous economy because it is usually much stickier and less mobile as regards threats internationally. Obviously, they use strong indigenous economy and a decent FDI input. This country has never moved on from FDI in terms of its economic policy and, therefore, has left itself significantly exposed. The Minister's Government continues to do that by not ensuring we have a strong indigenous economy. I have argued in this Chamber and committees for years that Fine Gael should want to collect more corporation tax instead of the bargain basement corporation taxes the Minister's party stood for for a long time. What actions is the Government taking now and is it going to completely outsource its actions to the European Union-----
Sentiment score: 0.16
-----given Ireland is the most exposed country in Europe?
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They are transitional because the Government has made them transitional.
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That is not what I am saying and the Minister knows that.
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It is not. The Minister is being facetious now.
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The Government has made us dependent upon it-----
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-----by not progressing it to the next stage and developing it.
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That is the point I am trying to make-----
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-----and the Minister knows that.
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The Minister is being incredibly cynical.
Sentiment score: -0.44