Joe McHugh (Donegal North East, Fine Gael)

I welcome aspects of the Finance Bill, especially the extension of mortgage interest relief, the reduction in stamp duty to try to stimulate commercial transactions and the capital gains tax holiday to attract foreign investment in Irish property. I want to speak about the third element. I have spoken to the Minister about it. On Committee Stage, I would like the Minister to consider the possibility of extending the tax holiday to domestic businesses that are just surviving. Sometimes survival is not enough to get credit from lending institutions. Say a business with access to agricultural land sold it to reinvest back into its business. Is there a possibility the capital gains tax on that transaction could be reduced if there is a guarantee the business is reinvesting the moneys released?

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