My question is very similar. It relates to the so-called "deemed disposal" tax on ETFs, which requires Irish investors to pay gains every eight years, even where no sale takes place. The programme for Government has committed to an implementation plan to address this anomaly. Like Deputy Boland, I wonder if we could get an update on the details of this and the current timeline.

Sentiment score: 0.15

I too thank the Tánaiste for his clear answer. The core issue here is one of fairness within our own tax system. An investor in individual shares pays capital gains tax at 33% and then only when they eventually sell those shares. However, an investor who chooses a diversified ETF, which is arguably the more prudent investment choice for an ordinary saver, pays a higher rate on the gains they have not yet realised. As was mentioned, they also cannot offset their losses in these, and they face a tax settlement every eight years, regardless of their intentions regarding the underlying ETF. This creates a disparity that is very hard to justify. I appreciate that the Minister gave a detailed explanation as to how this came about by way of trying to justify it. I agree that there are complexities but does the Minister in turn agree there is a very strong case for removing the rule in the near term, not just because it is part of the programme for Government but also because it is the fair thing to do for Irish savers?

Sentiment score: 0.39

There is another dimension to this. Ireland's position as a major ETF hub in Europe is something we should rightly be very proud of, but there is a contradiction at the heart of that success. Ireland is one of the best places in the world in which to manage and distribute ETFs but one of the most difficult places in Europe for an Irish resident to actually invest in them. Foreign investors in Irish-domiciled ETFs enjoy growth with no deemed disposal obligation, while Irish investors investing in the same products do not. Does the Minister acknowledge that this anomaly undermines or may erode our reputation as a well-functioning financial centre?

Sentiment score: 0.13

240. Deputy Shay Brennan asked the Tánaiste and Minister for Finance the latest update on his Department’s preparations for Ireland’s EU Presidency; the way in which he plans to oversee budgetary discussions on the next multi-annual financial framework post-2027 in a manner that will safeguard Ireland’s fiscal interests; and if he will make a statement on the matter. [26559/26]

Sentiment score: 0.19

I am seeking an update on the Department's preparations for Ireland's EU Council Presidency and, in particular, how the Minister intends to approach the negotiations on the next multi-annual financial framework, which Ireland will chair. Can the Minister advise how he intends to safeguard Ireland's fiscal interest in these negotiations?

Sentiment score: 0.34

During our Presidency, Ireland will chair and oversee the MFF negotiations, and will do this while simultaneously facing a reduction in our own allocations under the new framework due to our continued economic growth. I am not saying that is a bad thing. In one sense, we are in an advantageous position as we get to set the agenda and we are present at every negotiation. However, given the expectation that we act as impartial chair, does the Minister accept that this could work against us when it comes to pursuing our own fiscal interests? If so, how does he intend to manage that?

Sentiment score: 0.15

There is an expectation that the agreement on the MFF will be reached before the end of 2026. Ireland effectively carries the responsibility for delivering one of the most complex and contested negotiations in recent EU history within that six-month term. These negotiations involve deeply-held national interests across 27 different member states. There are significant disagreements on spending priorities. Overall, there is a total budget of approximately €2 trillion. Does the Minister believe that agreement is genuinely achievable within that timeframe? What commitment can he give that Ireland will do everything in its power to deliver a deal, given the significant reputational dividend that success would bring for Ireland within the EU?

Sentiment score: 0.35