Alice-Mary Higgins (Independent) | Oireachtas source

Apologies, I was not within the precincts. I was listening to the contributions and to the discussion, but I had to get within the precincts for speaking purposes.

I thank the Minister for coming in. I am interested to the provisions he mentioned in respect of mica. What he said points to the need for quality public procurement and greater attention to that matter. He will be aware that tis is a matter on which I have engaged with his Department.

Will he comment on a vacant property tax? Is there, or should there be, more scope in this proposed legislation to address the issue of vacant properties? We know there are properties which are being intentionally kept vacant by large property owners which own multiple properties. Should that opportunity be seized in the context of the proposed legislation?

The other issue I wish to raise was indicated at the beginning, namely, the European Stability Mechanism, ESM, legislation. It has to do with its timing and its scope. I am conscious, as is the Minister, that the fiscal rules in Europe are currently suspended. The latter allows for much potential investment in areas. There has been a very strong emphasis on stimulus from international bodies such as the IMF and the EU and its institutions. Following that, there is a process on the future of Europe which is a combined initiative of the Council, the Commission and the Parliament. I am lucky enough to be involved in that process.

I am concerned that the legislation on the ESM, in particular, the approach being taken to the precautionary credit line, could be seen as either being at cross purposes or even, indeed, pre-empting the goals and policies that have been set out by the three European institutions. Specifically, I am talking about the idea of tight fiscal targets, which in the past took precedence over agreed social goals. I am concerned by placing precautionary credit line targets, which, I understand, even before Covid only nine countries could reach, as a goal, there is a danger that if those targets, under the ESM and under the precautionary credit line should be used - I note there is an intention for the ESM to engage with the future of the semester process - they could create a pressure for a return to the same model of austerity at a time the discussion in Europe is on a different approach forward based more on stimulus and public investment. We felt the cost of failure to invest in that area during Covid. I would be grateful if the Minister could comment on the relationship between those proposals, which he is spearheading as part of the Eurogroup, and those processes that are under way and what we hope is an open space for a different approach to policy as part of the future of Europe and its institutions.