Mary Harney (Dublin Mid West, Progressive Democrats)

Nothing changes here. At the moment, if one's employer pays one's health insurance, that is considered a benefit-in-kind and a tax is applied by the Revenue Commissioners. I have forgotten the amount, but one must pay a sum of money in lieu of that. It is the same if one has a company car or any other such benefits. What we are seeking to do in this legislation, as a result of representations from companies, is not to impose any further burdens on companies as a result of the tax credit or in terms of their corporation tax. It is to be factored out before they pay their corporation tax. In other words, they will not pay more taxes by virtue of the way in which we are shifting money from younger to older people. That is what these amendments seek to do. This also applies to companies' capital requirements. What we are doing in the legislation does not affect any of those things.

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