Pat Rabbitte (Dublin South West, Labour) | Oireachtas source

The evidence presented to us by the Revenue Commissioners does not suggest that this is the case. Financial Resolution No. 4 amends item 47A of Schedule 25B to the Taxes Consolidation Act 1997 to provide for the temporary removal of the employment and investment incentive from the high earner restriction.

It is a positive measure. The restriction ensures a minimum tax rate is paid by high-income individuals by limiting the amount of tax reliefs that can be claimed in any one year if there is a cumulative claim of different tax reliefs. In the case of the financial resolution before the House the employment and investment incentive provides tax relief for investments in SMEs in recognition that such investments are risky, and as a temporary stimulus measure amounts subscribed for shares under the employment and investment incentive, EII, between budget day 2013 and 1 January 2017 will not be subject to the high-earners restriction. This is a positive measure to facilitate investment above that restricted figure into the enterprise. In that sense-----

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