John Lahart (Dublin South West, Fianna Fail) | Oireachtas source

Mr. Tutty has interpreted it as many in the media have interpreted it but it was never intended as a tax cut. The self-financing bit of it was a piece at the end and it was suggested that it would cost the Exchequer €250 million to cut the VAT rate on building materials. I do not think anybody would argue that the VAT rate for the tourism industry was to benefit restaurants. It was to benefit the customer so that prices would be kept low and people would go out to eat. I see this as an incentive and it was targeted at affordable homes, of which there is a chronic shortage, as there is with all homes. Mr. Tutty has said he cannot comment on it so we will go to corporation tax.