Paul Murphy (Dublin South West, Solidarity) | Oireachtas source

Last year, the Government acknowledged, after section 110 had been consciously created, that it caused a problem. The Government was supposedly shutting down a major tax avoidance measure, but at the same time keeping this loophole open. At the time the Government estimated in the budget that the shutting down of this so-called loophole in section 110 would raise an additional €50 million. Does the Minister have any figures as to how much was raised?

Can the Minister provide any justification, because he did not do so in his reply to Deputy Doherty, as to why this carve-out was created for loan origination businesses? If he acknowledged that section 110 was being used in a problematic way by big companies in order to avoid paying tax and was closing it down generally, what was his justification for continuing it for loan origination businesses?