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RTÉ News
6 days ago
- Business
- RTÉ News
Tánaiste criticises Opposition for wanting to spend more
Tánaiste Simon Harris has criticised the Opposition for wanting to spend more money, even though there are major concerns about US trade tariffs and the future of the pharmaceutical industry in Ireland. Speaking during Leaders' Questions before the Dáil ends for the summer, Mr Harris said there are measures being taken to help households, including extending the 9% VAT rate on energy bills, along with an expansion of the fuel allowance. But he said that anyone who fails to take into account the level of instability facing the economy simply does not get it. Sinn Féin's Pearse Doherty said that there are now over 300,000 homes behind on their electricity bills and 175,000 behind on their gas bills. He said the Government was about to swan off for the summer while refusing to commit to delivering a cost-of-living package in the Budget. Meanwhile, Social Democrats TD Jennifer Whitmore accused the Government of being "epic wasters". Ms Whitmore said people are worried about putting food on the table. She said there are economic clouds on the horizon and a growing sense of worry about what the future holds. She added that the Government splashed the cash in an attempt to buy votes last year, but now the Government is saying one-off payments are a bad idea as there is no election on the cards. Ms Whitmore said her party told the Government to target measures and supports. She added that Fine Gael styles itself as a party of fiscal probity, but in reality, it has been throwing public money around like "snuff at a wake". She said public spending is up 50% in a few short years, but Ireland has a housing crisis, record homelessness, threadbare disability services, a cost of living crisis and energy and water infrastructure that is crumbling. "This Government, you're epic wasters, you have wasted time, opportunity… and you have wasted our money." Responding, the Tánaiste accused the Opposition of hypocrisy, and he asked the deputy which of the one-off payments that were in place last year she was against? He said the united Opposition has not agreed on a presidential candidate, and cannot agree on budgetary matters either. He added that Sinn Féin want universal one-off measures, and the Social Democrats want targeted measures, but the Government will deliver a Budget in October. "It's not about giving anyone a lecture in fiscal prudence, it's about saying thank God we're approaching this moment of economic instability with full employment... with surpluses and a rainy day fund," said Mr Harris. 10,000 promised homes never materialised - Aontú Aontú leader Peadar Tóibín said many people around the country will look to mark the Government's "report card" on the last day of the Dáil. He said 10,000 homes promised by the Government "never materialised". He said the only thing that is more affordable at the moment is cocaine. "Criminals are doing a better job in creating a functional market for an illegal drug than you are in terms of housing," said Mr Tóibín. In response, Mr Harris said Ireland has record levels of employment, an economy that's running budget surpluses, and "an ability to create effectively two national wealth funds to protect our country from economic shocks". "We have been able to take real measures in the here and now to help carers, to help increase the fuel allowance, to help the student grants, to help reduce the cost of books." Mr Harris said there has been housing reform and major reform to the health system. He thanked Deputy Tóibín for his perspective and said the Government has "already undertaken a lot of work". "We will continue to do it while you will continue to critique us from over there," Mr Harris added.
The Journal
7 days ago
- Business
- The Journal
Donohoe asserts Government was 'honest' about cost-of-living supports during election campaigns
FINANCE MINISTER PASCHAL Donohoe has defended the government's budgetary election promises by claiming he and other candidates were honest with voters during the campaign. Government has been repeatedly criticised by opposition in recent months for earmarking the end of cost-of-living supports in Budget 2026 over falling inflation rates. The issue has been repeatedly discussed during Leaders' Questions in the Dáil , with TDs from all parties in opposition claiming that much of the public are still struggling with high costs. Fine Gael and Fianna Fáil ministers have repeatedly said that Budget 2026 will include more-targeted measures to help those who are struggling the most and that public spending needs to be cut back in the face of a threat of US tariffs. Speaking to RTÉ Radio One today, Donohoe said that Ireland can withstand a potential shock as a result of possible tariffs on the EU with the sum of windfall tax receipts collected in the last number of years Asked, in the context of the end of cost-of-living supports in next year's budget, if the public were misled during the election campaign last year, Donohoe said: 'Well, in the election debates, that happened again and again, I made clear and was honest that if we were in a moment of challenge, we would have to make decisions that would continue to help and to keep our country safe. 'We are in that moment of challenge, in that moment of [un]certainty, and we're acting in the way that I and my party outlined at election time,' he added. Advertisement The Dublin Central TD said that the government is aware of the financial challenges that people are facing and intend to bring forward measures which 'reflect that inflation has come down, but acknowledging now that we're seeing the world change around us'. Figures from the CSO in March found that a third of households in Ireland had reported that housing costs were a 'heavy financial burden' on them in 2024. The Journal 's readers also told us their stories of dealing with the cost of living . A recent survey from poverty charity Barnardo's also highlighted the impact of the rising cost of groceries on low-income families, with 40% of parents they had skipped meals in order to have enough food to provide to their children . Despite accusations that government attempted to attract voters in the last general election through the introduction of large packages of once-off payments in successive budgets towards the end of its term, support has largely held for the coalition. A B&A IPSOS poll, published by the Irish Times this morning, has found that support for Government parties and independent TDs has remained steady and grew, respectively, since spring. Asked about the accusations, Donohoe told the Morning Ireland programme today: 'I answered those questions truthfully then, I'll answer them truthfully now. 'When I was dealing with those questions a year ago, when I was bringing in that budget that helped with the cost of living, I did so at a time in which inflation was very high within our economy. 'And I always said, again and again, that these are measures that could not be permanent, and I said that at election time. I'm making that argument here again.' The Fine Gael minister added that the rate at which prices are increasing is beginning to slow. While accepting that people are still experiencing financial challenges, Donohoe said the upcoming budget aims to focus on the creation of jobs and delivery of infrastructure to future-proof Ireland's economy. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
The Journal
16-07-2025
- Business
- The Journal
Taoiseach grilled in Dáil on back to school cost crunch
MARY LOU MCDONALD accused the government of throwing struggling families 'under the bus' in October's budget, as a survey found one in three families are getting into debt to fund back to school costs. The Sinn Féin leader said the Taoiseach 'couldn't care less' about the cost pressures on families. Taoiseach Micheál Martin said McDonald was 'oblivious' to the economic climate. The Irish League of Credit Unions (ILCU) research found that the number of families taking out loans to cover back-to-school costs has tripled to 12%. Advertisement The average amount of debt in 2025 is €376 compared to one in four parents in 2024, taking on an average of €368 of debt. The total back to school spend in 2025 is €1,450 for primary school parents and €1,560 for secondary school parents. This is an increase for primary school parents of €364 compared to 2024, and €159 for secondary school parents. After school-care is the top expense for primary school at €197. Over a third of parents say that they are forced to deny their children at least one back to school item. The research also found that 64% believe that back to school costs are a financial burden, while 78% of schools also ask for a 'voluntary' contribution. The Sinn Féin leader read out in the Dáil the experiences of four people struggling with the cost of living, saying the cost of a weekly shop has gone up. She said the 'kick in the teeth for people is that you flatly tell them that you're not going to help', after the Government said there will be no one-off measures in October's budget. She acknowledged the economic uncertainty caused by Donald Trump's threat of a 30% tariff on EU goods, but said working class families and young people would be 'the real casualty' in that scenario. 'Why? Because they have a Government that cares more about the high rollers, the big bankers, your squadrons of junior and super junior ministers, than you do about struggling households,' she told the Dail during Leaders' Questions on Wednesday. Martin said he would 'test' any budget measures put forward by Sinn Fein, accusing the party of offering to spend billions on whichever issue crops up. The Taoiseach said the Government understands there has been pressure on households since the end of the pandemic and the Russian invasion of Ukraine. He said cost-of-living packages were announced in subsequent budgets as a result, but this year offered a different economic scenario, which he accused McDonald of being 'oblivious' to. 'I heard your spokesman talking about universal benefits for the high rollers. That's what your spokesman Pearse Doherty said this morning. He wants universal energy credits for the high incomes, for the high rollers. I will test you and your commitment and your principles,' he said. 'Will you agree to targeting? Will you agree to prioritising those in respect of child poverty in the forthcoming budget? Because we will target, and we will prioritise those most in need,' he added. He said permanent measures such as the 'gamechanger' free books scheme and hot school meals programme have also been implemented. Martin added that Ireland's 1.8% rate of inflation is the third lowest in the EU and is 'mid-table' in relation to food prices. He said investment in the public's future through spending on infrastructure is 'important'. 'For the first time ever now, we're back to pre-famine population on the island of Ireland, that's a positive, but we've got to provide for that in terms of our water infrastructure, in terms of housing, energy infrastructure, public transport and roads. But there are limits to what any government can do, and you're the opposition with no limits in terms of what you will spend', he said. 'It doesn't matter, whatever turns up on any day, you will spend a billion or two billion on it, that's your philosophy and that's your mindset.' Sinn Féin spokesperson on Education and Youth, Darren O'Rourke TD, said the survey highlights the urgent need for the government to introduce a cost-of-living package for hard-pressed families. 'This survey undertaken by the ILCU found that one in three families will be forced into debt to send their children back to school this Autumn. This is shocking and shows the stark reality of the cost-of-living crisis,' he said. 'Government must increase investment in our school system to match increasing costs in insurance, energy, electricity and elsewhere, and they should enact Sinn Féin's Voluntary Contributions Bill to regulate this practice,' he said. O'Rourke urged the government to acknowledge the cost-of-living crisis and to respond to it with a cost-of-living package, adding that free school books and hot school meals do not go far enough to protect families from the increasing costs of education. Additional reporting by PA. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
The Journal
16-07-2025
- Business
- The Journal
Taoiseach says €3.6 million investment in Israel is 'not going to fund any war'
TAOISEACH MICHEÁL MARTIN has said a €3.6 million investment in Israel is 'not going to fund any war' in response to claims that Ireland was funding a genocide in Gaza. The Fianna Fáil leader said the Government has no role in directing how public money should be invested and said it was not true to say Irish funds invested in Israel meant Ireland was funding a genocide in Gaza. Finance Minister Paschal Donohoe confirmed in the Dáil last night that the Irish Strategic Investment Fund (ISIF) had divested itself of all Israeli bonds in the last number of weeks. During Leaders' Questions this afternoon, Social Democrats deputy leader Cian O'Callaghan raised the matter during Leaders' Questions this afternoon. He told the Dáil that at the end of 2023, the ISIF held €2.62 million in Israeli sovereign debt. By the end of 2024, that had increased to €3.62 million. 'This wasn't a mistake or some kind of oversight. Someone made a deliberate decision to increase the level of public money spent on Israeli war bonds, and the Israeli government have not hidden what those bonds are for,' O'Callaghan said. 'These bonds are clearly being used to help finance their genocidal campaign. Taoiseach, this is utterly outrageous.' Advertisement The Dublin Bay North TD also said it was 'shameful' that nearly €8 million of Irish public money was invested, directly or indirectly, in companies operating in occupied territories while the Government is trying to pass the Occupied Territories Bill, which would ban the trade of goods with Israeli settlements in the same occupied territories. Ireland directly invested in 11 companies with ties to settlements in occupied Palestinian territories, with the State's divestment from six of these companies in April 2024 bringing this number to five. But through involvements in those five companies, the ISIF may still be investing millions in businesses with links to settlements that are considered illegal under international law. The Journal Investigates recently reported on who these companies are and why they are linked to settler activity in occupied Palestine territory. Govt 'not involved in investment decisions' Martin said he would 'follow through' on the issue raised with him today, but pushed back against the suggestion that Ireland was funding a genocide. I take strong exception to your assertion that the Irish Government is funding genocide. It most certainly is not and never has. 'You know the Government does not get involved in investment decisions by any fund that is established, you know that is the case.' He said Ireland was opposed to the war in Gaza and listed Ireland's position on matters relating to Gaza: that Ireland was the only country that has moved to pass legislation banning goods coming from the illegally occupied Palestinian territories and had pushed for the suspension of the EU-Israel Association Agreement. He said Ireland had intervened in South Africa's genocide case against Israel at the International Court of Justice (ICJ), and also sponsored UN resolutions in respect of decisions at the court. O'Callaghan said the Government gives the ISIF 'its strategic direction', and should direct it not to invest money in companies that contravene international law in the West Bank. Read Next Related Reads Fine Gael TD criticises Alan Shatter for comparing Occupied Territories Bill to Father Ted sketch Micheál Martin likens Israel's plans for 'humanitarian city' in Gaza to a 'concentration camp' 'There are much better places that our money should be spent: in affordable housing, in healthcare and disability services. Not a cent should be invested in companies operating in occupied Palestinian territories, in the West Bank.' Martin said: 'The ISIF have confirmed that at the end of 2024 it had held €3.6 million in Israeli sovereign debt. 'That's not going to fund any war, deputy. So let's have a sense of perspective. You can argue it's not right, I take that point. 'But you said we funded genocide. That is an outrageous, exaggerated assertion. You lack credibility in putting a point like that, but you do it for political gain only.' He said ISIF held €5.2 million in Egyptian sovereign debt and €2.3 million in Jordanian sovereign debt, and added: 'I wouldn't approve of some of this either.' He called on O'Callaghan to withdraw the claim that Ireland was funding genocide. With reporting from Press Association Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Irish Examiner
16-07-2025
- Business
- Irish Examiner
Micheál Martin and Mary Lou McDonald clash over inflation pressures on families
Micheál Martin and Mary Lou McDonald have clashed in the Dáil over inflationary pressures on families. Ms McDonald accused the Government of preparing to throw families 'under the bus' in the upcoming budget, while Mr Martin said the Sinn Féin leader was 'oblivious' to the economic climate. The Taoiseach said he would 'test' Sinn Féin's spending pledges, while Ms McDonald said he 'couldn't care less' about the cost pressures on families. The Sinn Féin leader read out in the Dáil the experiences of four people struggling with the cost of living, saying the cost of a weekly shop has gone up. She said the 'kick in the teeth for people is that you flatly tell them that you're not going to help', after the Government said there will be no one-off measures in October's budget. She acknowledged the economic uncertainty caused by Donald Trump's threat of a 30% tariff on EU goods, but said working class families and young people would be 'the real casualty' in that scenario. 'Why? Because they have a Government that cares more about the high rollers, the big bankers, your squadrons of junior and super junior ministers, than you do about struggling households,' she told the Dáil during Leaders' Questions on Wednesday. Mr Martin said he would 'test' any budget measures put forward by Sinn Féin, accusing the party of offering to spend billions on whichever issue crops up. The Taoiseach said the Government understands there has been pressure on households since the end of the pandemic and the Russian invasion of Ukraine. He said cost-of-living packages were announced in subsequent budgets as a result, but this year offered a different economic scenario, which he accused Ms McDonald of being 'oblivious' to. 'I heard your spokesman talking about universal benefits for the high rollers. That's what your spokesman Pearse Doherty said this morning. 'He wants universal energy credits for the high incomes, for the high rollers. I will test you and your commitment and your principles. 'Will you agree to targeting? Will you agree to prioritising those in respect of child poverty in the forthcoming budget? Because we will target and we will prioritise those most in need.' He said permanent measures such as the 'gamechanger' free books scheme and hot school meals programme have also been implemented. Mr Martin added that Ireland's 1.8% rate of inflation is the third lowest in the EU and is 'mid-table' in relation to food prices. He said investment in the public's future through spending on infrastructure is 'important'. 'For the first time ever now, we're back to pre-famine population on the island of Ireland, that's a positive, but we've got to provide for that in terms of our water infrastructure, in terms of housing, energy infrastructure, public transport and roads. 'But there are limits to what any government can do, and you're the opposition with no limits in terms of what you will spend. 'It doesn't matter, whatever turns up on any day, you will spend a billion or two billion on it, that's your philosophy and that's your mindset.' Read More MABS sees 10% surge in families in debt due to soaring cost of living
