Oireachtas Joint and Select Committees

Wednesday, 2 October 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Financial Transaction Tax: Discussion with Department of Finance

3:45 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

The Chairman is eating into my time. Is there a fundamental flaw in the financial transaction tax as proposed? Does Ms McVeigh understand my point? It seems no one can agree on the financial transaction tax directive. There appears to be very little empirical work done on the directive. It could have very great consequences for countries such as Ireland and the UK because of the high concentration of such organisations here. There will also be an impact on bond yields for us when exiting the bailout. Is there a possibility that the financial transaction tax directive is fundamentally flawed?

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