Press Releases

Review of Tax Reliefs and Exemptions for High Earners Minister for Finance launches public consultation process Request for SubmissionsIn his Budget statement of 1 December 2004, Mr. Brian Cowen, T.D., Minister for Finance, announced that the Department of Finance and the Revenue Commissioners would carry out a thorough evaluation of the effect of all tax incentive reliefs and exemptions, with a view to introducing measures in Budget 2006

Civil Service Performance Verification Group ReportsThe Civil Service Performance Verification Group (CSPVG), chaired by Dr Donal de Buitleir, has completed its work in relation to payment of the general round increases due from 1 December, 2004, and has decided that payment of the increases was warranted for all grades in each of the organisations under its remit.The Department of Finance is today (18th January 2005) publishing the report submitted to the CSPVG by the Secretary General (PSMD)

Public Procurement Portal launched by Department of Finance Since the publication of the government strategy on eProcurement in 2002, a broad programme of reform has been taking place across the public sector. This programme covers a wide range of activities, focussed on four main strands:Capacity building within organisations, to strategically manage the procurement effort in order to maximise savings and benefits; Aggregation of public sector demand, in certain markets, to reduce

The Minister for Finance, Mr. Brian Cowen, T.D., today published summary information on the 2005 profiles of net Voted expenditure and tax receipts. The 2005 net Voted expenditure profiled is based on the Budget day expenditure allocations for the year plus an additional €10m allocated to the Vote for International Co-operation for the Tsunami relief effort in South-East Asia.

Minister for FinanceFinance Bill 2005Bill to reduce Income Tax and Stamp Duties:Remove the minimum wage from the Tax Net; Extend Revenue Powers to deal with major cases; and crack down on certain tax avoidance schemes1. The Minister for Finance today (3 February 2005) published the annual Finance Bill which must be enacted by the Oireachtas by 1 April next. The Minister said he looked forward to piloting his first Finance Bill through the Dáil and Seanad.2. The Minister pointed out that

The Minster for Finance, Mr Brian Cowen, T.D., announced today Tuesday 8, February, 2005 that following Government approval, his Department has circulated new Guidelines for the Appraisal and Management of Public Capital Programmes and Projects. The new guidelines replace and update the guidelines issued by the Department of Finance in 1994.

The Department of Finance, on behalf of the public sector, went to the market on 20 December 2004 for the supply of Approx 202.5 MW of electricity for 450 sites across a range of public sector bodies including government buildings, hospitals and Garda stations.

The Minister for Finance, Mr. Brian Cowen, T.D., presented the 2005 Revised Estimates for Public Services and Public Capital Programme to Dáil Éireann today. The Revised Estimates reflect the spending totals announced on Budget Day together with some adjustments arising since then across a range of Departments. Total gross voted expenditure incorporating capital and current services in 2005 will be €45.7

EXCHEQUER STATEMENTSTATEMENT OF EXCHEQUER SURPLUS/(DEFICIT) IN THE PERIOD ENDED 28 FEBRUARY 2005

The Minister for Finance, Mr. Brian Cowen T.D., announced today that State aid approval has been received from the European Commission for the Scheme for Excise Relief for Pilot Projects in the area of Biofuels. The Scheme was legislated for in Section 50 of Finance Act 2004 and will allow relief from excise duty for biofuel used in approved pilot projects.

The Minister for Finance, Mr Brian Cowen, T.D., welcomed the report by the OECD "Taxing Wages 2003/2004", published yesterday, which has shown that the average tax rate of Irish workers is one of the lowest in OECD member states.

Statement by Minister for Finance on "aiding and abetting provisions of Finance Bill"The Minister for Finance, Mr Brian Cowen TD, announced that he has brought forward amendments to the Finance Bill 2005 to ensure the effectiveness of the extension of the powers of the Revenue Commissioners to pursue prosecutions against persons who engage in tax evasion or who facilitate tax evasion.The Minister noted that the Finance Bill as introduced by him already contained provisions creating a new

Table 1: Reporting of government deficit/surplus and debt levels and provision of associated data

The Minister for Finance today announced the award of contracts for the supply of electricity to over 400 selected sites (representing consumption of more than 200 Megawatts) across the public sector including Government Departments, the Garda Siochana, the Prison Service and the HSE. Following an open tender competition for the supply of electricity in four tranches (details attached), the contracts for the supply of electricity was awarded to three independent suppliers: Bord Gais Eireann, Energia and ESB Independent Energy. The total value of the supply contract is estimated to be in the region of €20 million with an average discount from the Public Electricity Supply (PES) rate set by regulator for the ESB of between 6-10% depending on the tranche.

Cowen responds on Development Aid Speaking today in response to the Development Aid report the Minister for Finance Mr Brian Cowen TD said "the Government is committed to building quickly on the substantial progress to date and to achieve the UN target of 0.7%. The issue of how best to meet the target, and in what timeframe, is under ongoing review." In relation to Bob Geldolf's statement, I want to state that the absorptive capacity of African countries has not in any way been a factor in our

The Minister for Finance, Mr. Brian Cowen, T.D., announced that he has now received from the Revenue Commissioners a report on the effective tax rates of the top 400 earners for the tax year 2001.

The Minister for Finance, Mr Brian Cowen, T.D., today (5 April 2005) welcomed the announcement by the Financial Services Ombudsman Council that it had appointed Joseph Meade as the first Financial Services Ombud sman.

 The Minister for Finance, Mr Brian Cowen, T.D., announced today the award of two external consultancy contracts for the review of certain property tax incentives as part of the major detailed review of various tax incentives in the context of the 2006 Budget. 

The Minister for Finance, Mr Brian Cowen, TD, today (20 April 2005) announced the appointment of Mr Finbarr Flood as chairman of the Decentralisation Implementation Group

The Minister for Finance, Brian Cowen, TD, today (23 May 2005) opened the new State Laboratory at Backweston, Co Kildare.

The Minister for Finance, Mr Brian Cowen, TD, today (23 May 2005) responded to RTE's Prime Time programme in relation to taxation.

Government tender website registered suppliers jumps 21% in 12 months Over 80,000 visits to The Department of Finance, which manages the Public Service's electronic tendering site

A draft Code of Practice will now provide better public access to information held by North South Implementation Bodies and Tourism Ireland Ltd. Over the coming 16 weeks, the public can comment on the Draft Freedom of Information Code of Practice, which was launched jointly today by Brian Cowen TD, Minister for Finance and Jeff Rooker, Minister at the Office of the First Minister and Deputy First Minister (OFMDFM), each of whom have responsibility for Freedom of Information in their respective jurisdictions.

The Minister for Finance, Mr. Brian Cowen T.D. has asked the Department of Finance, in conjunction with the Revenue Commissioners and the Department of Art, Sport and Tourism to review the current system of betting duty in Ireland in light of modern day circumstances.

Press release

The Minister for Finance, Mr. Brian Cowen TD, today (21 July 2005) published a decentralisation resource pack for public service organisations preparing for decentralisation.

Minister for Finance, Brian Cowen T.D., announces new initiative to accelerate delivery of Public Private Partnerships for key capital infrastructure projectsThe Minister for Finance, Brian Cowen T.D., announced today, 26th July 2005, that the Government has accepted his proposals for a new initiative aimed at accelerating the delivery of Public Private Partnerships (PPPs) for key capital infrastructure projects in the Central Government area.

Department of Finance published the Annual Review and Outlook today, 18th of August 2005, dealing with the outturn for the economy in 2004 and the prospects for 2005.

Ireland's September 2005 Maastricht return as submitted to the Commission on the 1st September 2005.

Minister for Finance, Brian Cowen TD, welcomes the endorsement of Ireland's economic and budgetary policies The Minister for Finance, Brian Cowen, TD, today welcomed the comments by the President of the European Central Bank, Jean Claude Trichet, who cited Ireland as a “magnificent performer” in making the argument for structural reform in the EU/euro zone economies.

The Minister for Finance, Brian Cowen, TD, welcomes major expansion of Government's Public Private Partnership ProgrammeThe Minister for Finance, Brian Cowen, TD, today (29 September 2005) welcomed the announcement of 23 new post-primary schools and 4 new primary schools to be provided under the Government's Public Private Partnership Programme.

Statement by Minister for Finance, Brian Cowen TD, on the death of Mr Donal Geaney