Insurance profits levy included in proposals

Independent Alliance ministers meet today to agree on pre-budget demands including a new levy on insurance companies, pension rises, and more funds for disability services. Shane Ross and other Independent ministers are hoping to sit with Finance Minister Paschal Donohoe later this week to discuss different budget options.

One alliance source explained: “We are not putting this into a document this time. It will be a very strange budget. We need to work together rather than setting out demands that can’t be met.”

Alliance proposals to Mr Donohoe for next month’s budget include a new levy on insurance company profits, partly as a result of consumers facing high premium costs. Junior finance minister Michael D’Arcy also supports the idea of the special tax on company profits unless they reduce premiums.

Alliance sources also confirmed they want to see “another fiver” in Budget 2020 — a reference to the continued rise in pension and welfare payments in recent years. Finian McGrath, the disability minister, is also expected to seek further resources and funds for his areas.

Another alliance source added: “This [meeting] is an opportunity for the four to decide things after the summer break. It is not a think-in. There are no red lines for the budget. This might be the last Dáil session, before any election. It could be the last opportunity for independents to make their mark.”

Meanwhile, three Cabinet sub-committees, including a special group on EU affairs, will meet today — and the latest Brexit developments will be assessed. Taoiseach Leo Varadkar is also expected to brief colleagues tomorrow on his bilateral meeting with British prime minister Boris Johnson.

Agriculture Minister Michael Creed is also expected to advise the Cabinet of the latest developments in the beef row between farmers and factories amid efforts to defuse the stand-off and find an agreement.