Áine Collins (Cork North West, Fine Gael) | Oireachtas source

The first thing that happens is that they want their headquarters there. We must find a policy to do something about this.

We have a submission on getting a tax credit for angel investors. It goes up to €20 million and cuts off at €20 million in one year so that it is focused. The entrepreneur must get approval from the Revenue Commissioners.

Seed capital is one of my favourite topics. We must make it easier as it has been around forever and has never been used. We need to make it clean so that people can get their tax back for the past five years and invest it in share capital, rather than all the messing involved in finding the money and claiming it back. People do not get that entrepreneurs do not have money in the early stages. This is true of young people out of college.

I totally agree with the point about income tax and capital gains tax, which is now 16.5%. My understanding is that the regime is still complicated. Do the witnesses have any thoughts on it? In the UK, it is much cleaner. I refer to the PAYE tax credit. My background is in accounting and I have done a lot of work with small businesses. As an entrepreneur and as a small business, more allowances can be used. Whether this is fair or unfair, it has been in place forever. PRSI has changed and people can only get six months, even as a PAYE worker, and after that it is means tested. People are entitled to social welfare payments after losing their businesses but the issue is that it is means-tested. It is not means-tested, people are only entitled to six months. There is a policy change and some work is being done on it. We will see some change in the budget. I do not know what questions were included in that contribution.