Seanad debates

Friday, 28 January 2011

Finance Bill 2011: Second Stage

 

2:00 pm

Photo of Terry LeydenTerry Leyden (Fianna Fail)

I wish I had more time. Former Minister De Rossa gave a £1.50 increase in pensions. That is the point I am making. Fianna Fáil Ministers such as the Minister, Deputy Hannifin, or the Minister, Deputy Ó Cuív, gave dramatic increases and people appreciated it. Would anybody be delighted to lose money? The answer is "No", because nobody wants to lose money.

The decision on section 23 relief is welcome and I commend the Minister on it and on listening to what Members of the Dáil and members of Fianna Fáil who discussed the issue at the parliamentary party meeting had to say about the harsh effect the removal of the relief would have. People bought properties on the basis of the surety of the State on the relief. Therefore, the State cannot change the rules. When a commitment is made, it must be honoured. When the commitment is complete, then it will be fine to scrap the scheme. The people of north Roscommon, Longford, Leitrim and the south of Sligo benefited from the Shannon corridor section 23 provision. It boosted the economy, but unfortunately it overheated and we have been left with some ghost estates. That is all part of policy. Policies can go wrong, but the objective was right.

I wish all the best to Deputy Enda Kenny, possibly the future Taoiseach, and Deputy Michael Noonan, who is a fine and responsible Opposition spokesman. I have been very impressed by Deputy Noonan. I hope he gets the finance portfolio and that it does not go to the Labour Party. However, I think they will come back one hand longer than the other tonight because no concessions can be given to them, although I hope they manage to get concessions.

I received representations from various people with regard to different aspects of the Finance Bill and I will submit those representations to the Minister. For example, Tony mentioned there had been a big reduction in his widower's contributory pension. I received a document from a Mr. Paul Brady and a very good document from A.L. Ruttle. I will submit both documents to the Minister for consideration. I compliment a group in Cork which sent a message saying that it would be grateful and obliged if we could help it in any way, even with a few words of encouragement. It is trying to build a youth café in Glanmire, County Cork. I will give that note to the Minister of State, Deputy Áine Brady, and perhaps she will consider whether it is possible to give that group any support.

I wish everybody well in the election, which we will fight fairly. I believe there will be a bounce back to Fianna Fáil and that we will get more seats than people expect.

Comments

No comments

Log in or join to post a public comment.