Joe Costello (Dublin Central, Labour)

This is the most important of all the amendments that will be discussed on Report Stage. It is seeking to provide a framework, a rationale and some underlying principles for any decision to forgo taxes. It aims to clarify the benefits of doing so. Why should the taxpayers of this nation forgo a range of taxes and tax reliefs in the absence of a costing of what the benefit to the country will be? That is the nub of the matter. This amendment proposes that the Department of Finance "shall within one month" have conducted "a cost-benefit analysis of" the range of tax reliefs included in this Bill. I expect the departmental officials will throw up their hands in absolute dismay at the thought of being required to take such action within such a space of time. I accept it would be difficult to do. It is obvious that the work in question should have been done before the budget was introduced and this Bill was presented. We need to put down a marker that no further tax reliefs will be introduced to benefit wealthy landlords, large pension funds and property developers - they have already been enriched and any such benefits would enrich them further - unless there is a return to taxpayers.

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