Stephen Donnelly (Wicklow, Social Democrats) | Oireachtas source

This is the section 110 companies which are not allowed to own the property and can only own the loan. They too get direct income from the loans in the interest and capital payments. We will leave it at that. It would be very useful to get a report from the Department looking at the evolution of property tax in Ireland over the last ten years because I believe it would show the following. In spite of the good efforts in the amendment, over a ten-year rather than a one-year view, we have lifted a large chunk of a really important taxable asset out of the tax base. The Minister of State might bring that back to the Minister, Deputy Noonan, and see if he would consider it. I thank the Minister of State and the Chair for their time.