‘Consensus within Government’ that threshold around inheritance tax too low and options under review to shift that, says Minister
Mr Chambers said that his predecessor in the Department of Finance, Michael McGrath, had introduced changes for landlords in last year’s budget.
In Budget 2024, the Government agreed to tax reliefs which allowed landlords tax relief worth between €600 and €1,000 up to 2027.Liffey quays ‘flowing really well’: Bus users look to be biggest winners in Dublin traffic changesAlso on budgetary matters, Mr Chambers said that there was “consensus within Government” that the threshold around inheritance tax was too low, and that he was working on options to shift that as part of Budget 2025, but that no decisions had been taken.
“That leaves limited scope for other areas of taxation,” he said, while noting there were no decisions taken on the “additionality” that would be available as part of the budget. He said investment and growth of indigenous businesses was a “much bigger question than on tax policy alone”.
Responding to criticism from the State’s fiscal watchdog about the inflationary effect of Government spending, the Irish Fiscal Advisory Council , Mr Chambers said he welcomed their role but that spending growth was in line with last year. The Coalition will, for a third year, breach its own spending rule, increasing spending by 6.9 per cent rather than by its self-imposed limit of 5 per cent.
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