Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

I wish to bring two points to the attention of the Minister. The process of this afternoon's meeting is a bit of a breakthrough. Last week, the European Commission made an announcement that it is examining VAT rates across the European Union, particularly items exempt from VAT, those on a reduced VAT level and those on a higher VAT margin.

The thinking behind the examination is to have a fundamental reform of VAT rates across the European Union. The Commission will also examine how reduced rates distort competition, how goods and services can benefit from a universal VAT arrangement and how VAT rates may contradict some of the EU's current policies. The announcement is now being followed by a public consultation process. I assume that the Department of Finance shall observe and make a formal submission. If it does then I request that it presents a copy to the committee.