Cian O'Callaghan (Dublin Bay North, Social Democrats)
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In the first quarter of 2025, compared with the first quarter of 2023, 13,000 more people were working in the sector to which this section relates. The rate in the UK stands at 20%. As a result, the 13.5% rate currently in place here is considerably advantageous in comparison with the rate that applies in the UK, our nearest neighbour. In the context of the profits of some of the fast-food chains, McDonald's stand at €42 million and Supermac's at more than €43 million.

When he was here yesterday, the Minister said that his absolute priority in terms of the Finance Bill and the budgetary process is to protect the public finances. This measure does not protect the public finances. It is very costly. It will be costly this year. It will be even more costly next year and in the years to come. Given that we have had warning after warning from the ESRI, the Central Bank and the Irish Fiscal Advisory Council regarding our budgetary position to the effect that we cannot continue to increase spending while cutting taxes and narrowing our tax base because that is irresponsible.

The Minister said yesterday in the context of cáin chorparáide - corporation tax - that it is a highly volatile revenue stream and that there are elevated levels of receipts that cannot be relied upon to continue indefinitely. Here we are, reducing the tax take significantly and another revenue stream at a time of high volatility when our underlying budget deficit, when you remove the windfall corporate tax element, is projected to be €13.6 billion. We have an economy running at full capacity and yet we have an underlying deficit when we remove windfall corporations tax of €13.6 billion. This is not a time to be making the situation worse by making our reliance on volatile windfall corporation tax receipts even greater.

There is also an opportunity cost. If this measure was not happening, we could, for example, abolish the means test for carers, which would be a much use of resources, or introduce measures such as the second tier of child benefit in order to lift 40,000 children out of poverty. We are in a situation where these are exactly the kind of things that the State should be able to do and should be able to afford. If we are not able to tackle child poverty now, in relatively good economic times, when are we going to be able to do it?

This is a measure that stimulates a sector of the economy that does not need stimulation and that is in a very healthy state. The Tánaiste, a matter of days ago, stated that he is going to cut back on migration levels and on the number of migrant workers entering the country. How on earth are we stimulating a sector with high levels of employment at a time when we are having difficulty filling jobs in that sector?