Jim Glennon (Dublin North, Fianna Fail)

I thank my colleague, Deputy Ardagh, for sharing time. Like my colleagues I congratulate the Minister for Finance, Deputy Cowen, not only on his first Finance Bill but on his first budget which, presumably, is the first of three. The manner in which the budget was greeted by the community at large and most sides of the House is an indication of the efficiency with which he has commenced his new portfolio. I wish him and his Minister of State well over the next few years in their efforts and I hope we will be standing here for the next few years in a similar disposition to the legislation before the House.

I welcome, as my colleague Deputy Ardagh has done, a provision in the Bill which addresses the difficulties of first-time buyers in the housing sector. Like Deputy Ardagh's constituency, my constituency of Dublin North is one in which a significant level of house building is taking place. Unfortunately, most of the houses being built are outside the budgets of a double earning partnership and natives sometimes must travel up to 50 miles away. Any step that can be taken to make it easier for members of the community to remain in the community in which they were reared and to take their first steps towards rearing a family in the area are welcome. I welcome particularly the measures being introduced for first-time buyers of second-hand houses and the reduction in stamp duty.

In a similar vein, and it may come as a surprise given I am a Dublin Deputy, I welcome section 115 which confirms stamp duty relief for exchange of farmland for farm consolidation purposes, particularly in the horticultural area. As the Minister of State is aware, times are changing rapidly. What was a viable holding five years ago is one no longer. There was an anomaly under the stamp duty legislation which, in effect, penalised families for consolidating their holdings. I had lengthy discussions with the IFA when preparing its submission. I am pleased the Minister has taken note of its representations and acted on them.

Given that I come from a large PAYE constituency, it is not an understatement to say that the PAYE worker is the backbone of our tax system. Unfortunately, PAYE workers have historically also been a soft touch in the tax system in that they are the most easily targeted. There is considerable frustration among that sector when it sees the preference certain traders have for cash payments as distinct from other types in so many areas of activity in the economy. I applaud the Minister on the introduction of anti-avoidance measures and his announcement of an audit of many of the exemption schemes in place.

I refer to an issue on which I have had an interest in recent years, namely, the old chestnut of the stallion tax. Considerable debate has taken place on this issue. Deputy Deenihan referred to the arts and the exemptions for same, which are welcome. However, neither the arts exemptions nor the stallion tax exemptions were designed for either the superstars, in the context of the arts, or the battery hen type operation in stud farms. When introduced, they were pitched at the middle of the road, medium earning operator in each category. I am in favour of their continuation for the middle of the road earner in both categories. However, they are worthy of consideration in terms of the battery hen type operation at the stud farm and also at international superstars level in the arts. It is inequitable that some in the arts, who earn massive amounts of money by anybody's standards, do not pay tax.

I refer to Deputy Deenihan's comments on the exemptions on which he and I worked last year and are still working for elite sports people. He inadvertently mentioned them specifically in the GAA context but they were not designed to be specifically in that context. At present, professional sports people have a beneficial tax regime. There are some who give huge amounts to amateur sports who deserve a break. We have not been able to devise a way of doing it yet. However, it is imminent and I look forward to its introduction in the near future.

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