Oireachtas Joint and Select Committees

Tuesday, 15 November 2016

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2016: Committee Stage (Resumed)

2:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

It goes beyond structures. Certain sectors may benefit from the structures, and although it may be simple enough to unwind a structure, it leaves a hole. Unless time is found to fill the hole with regard to income, the sector will be put out of business. That is the problem.

The Government needs to reassure the sector that it wants to work with the sector and ensure the sector is stable and sustainable into the future even with these new strong powers. Regardless of the type of model used everybody could lose the flat rate edition in a particular sector as a result of this provision. The Minister can introduce the scheme by the stroke of his pen. There is no requirement for consultation within the sector or appeals mechanism. Such a situation would frighten anybody. Farmers understand the benefits of the flat rate edition but their fears must be addressed. I shall leave my comments at that because we might come back to it at Report Stage. I do not dispute the substance of the amendment. I am concerned about the approach that the Government will adopt.

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