Oireachtas Joint and Select Committees

Wednesday, 17 November 2021

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

Finance Bill 2021: Committee Stage (Resumed)

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

I will come in on amendment No. 106, but will speak to amendment No. 112. We will get it over and done with because the Minister will not move on these amendments. Whatever way it is presented, at the end of the day, the banking sector and the same number of deposits and loans will remain in the State, but the levy that is charged will be reduced. It is only being extended for another year but it should be extended for a lot longer than that. We have discussed this earlier and have dealt with this section.

My question is on the mica redress scheme. Does the Minister envisage an additional levy on, or contribution from, the banking sector above and beyond what he is now legislating for? Or is he saying, sin é, that is it and this is the contribution? It appears he is not serious about a contribution from the financial sector because he has not done anything about it. He has not lifted the phone, written to or met representatives from the sector regarding discussion of this issue. I have raised it more times with the CEOs of the banks than the Minister has, which would not be hard because he has raised it zero times. Is this it or is the Minister saying he will consider an additional contribution to the overall sum of the mica redress scheme for those affected homeowners?

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