Oireachtas Joint and Select Committees

Thursday, 7 March 2013

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

Finance Bill 2013: Committee Stage (Resumed)

1:05 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

He also said, with respect to the Chair, that in conducting a review we must be careful about the signals we send out to the markets. That means there is a hesitation about shining a spotlight on these areas in case the markets take flight. The Minister of State was clear and explicit about that.

I believe we need a review because the one example I have cited, which is the only one of which I know, is shocking in the extreme. We are discussing the aviation sector but in this section there is also reference to the extension of stamp duty exemptions to the area of securitisation transactions. As I mentioned earlier, securitisation transactions are the reason the global economy crashed. They were at the centre of the global economic collapse, and we are now extending tax exemptions to those things. We are giving them exemptions.

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