Fines for ineligible contributions to investment scheme

Providers who accept contributions from ineligible investors under the Goverment's new personal investment accounts are set to face financial penalties.

Under changes Tánaiste and Minister for Finance Simon Harris will propose to Cabinet this morning, fines of up to €3,000 can be levied for accepting ineligible investments.

The new State-backed investment account will feature a tax-free threshold of €50,000 and will be open on 1 July next year.

The scheme will allow qualifying individuals to invest their savings in accounts offering higher rates of growth.

This morning, the Tánaiste will propose amendments to the scheme that includes a new €3,000 penalty on providers who knowingly accept ineligible investment contributions from non-resident individuals.

Only people over the age of 18, with a PPSN number, and who are resident in the State may take part in the scheme.

It is intended that the amendments will be brought forward at the committee stage of the Finance Bill, which will take place this week.

Govt to approve short-term letting measures

Meanwhile, the Government is set to approve a national planning statement on short-term letting by Minister for Housing James Browne.

The measures are intended to ensure there is a consistent approach to the application of planning rules by local authorities across the country, by laying out a clear overall policy approach to short-term lettings.

Planning will be required to change the use of property from private residential to being let out on a commercial basis.

The Government has previously signalled restrictions on short-term letting in towns with populations of 20,000 or more, where the housing shortages is most severe.

Planning permission to begin short-term letting will now be required.

Minister Browne acknowleged "there are some genuine concerns in some tourism-dependent communities regarding the impacts on removing a cohort of properties from the short-term letting market".

However, he said "his priority has to be meeting the local housing need… and that people should be able to seek accommodation in their own local community where possible".

He said he wants to see houses that were rented out on a short-term basis back in the rental market as whole properties available for longer-term letting.

Separately the new standards for apartment development will also be issued by the Minister this week through the national planning statement.

These will set out standards relating to internal space, apartment mix, aspect ratios, storage spaces and balconies.

The Cabinet will also discuss plans by Minister for Further and Higher Education James Lawless to develop accommodation for 42,000 students between now and 2035.

The minister is to seek expressions of interest from developers to build the capacity.

The first expression of interest will be to develop on-campus accommodation with 3,300 beds in technological universities in Dublin, Cork, Galway and at the Institute of Art and Design in Dún Laoghaire.

The second expression will be for the provision of non-campus, purpose-built student accommodation in Dublin, Cork, Galway, Wateford, Limerick and Athlone.

Five-year strategy to lift animal welfare standards

Meanwhile, the Government will launch a new strategy today aimed at promoting high standards of animal welfare, with a particular focus on issues such as responsible pet ownership, dog control and the regulation of horse-drawn vehicles on public roads.

Minister for Agriculture, Food and the Marine, Martin Heydon, will outline the details of Ireland's new five-year Animal Welfare Strategy at this morning's Cabinet meeting.

The strategy will set out a framework of actions to strengthen enforcement and governance, increase public awareness, support research and innovation, and enhance collaboration around animal welfare.

Stronger powers for dog wardens will be under consideration, as well as more focused public awareness campaigns addressing issues such as 'sheep worrying' and the importance of keeping dogs under control in the countryside.

It is understood that an increase in dog microchipping will also be supported.

There will be a focus on increasing awareness and support for urban horse projects, and a working group will be formed with the relevant Government departments to address the regulation of horse-drawn vehicles on public roads.

Over the next five years, the Government says it intends to collaborate with local authorities, farmers, animal owners, veterinary professionals, animal welfare organisations, researchers and communities, with a view to improving animal welfare standards through science and evidence-led policymaking and through effective legislation.