Lucinda Creighton (Dublin South East, Independent) | Oireachtas source

I do not have a difficulty with this amendment in principle because I do not believe that additional transparency can in any way cause a difficulty. In fact the greater level of transparency we have for Members of the Oireachtas and for the public, the greater confidence can be in how the scheme works. I support the scheme.

The idea of the Tánaiste and Minister for Social Protection announcing that one exemption under SARP would create 50 jobs is ludicrous. I do not know how that statement could have been made. The point of the programme is not just to attract new investment to Ireland but also to maintain investment here. We are doing our level best as a nation to compete with the rest of the world.

Deputy Pearse Doherty has tried, somewhat unsuccessfully, to create a narrative around closing off tax incentives for Ireland which attract multinational investment in this country. That is flawed and wrong because one small country alone cannot clean up a globally dysfunctional tax system. This seems to be another backhanded attempt to disadvantage Ireland in competing on taxation with other countries, and particularly with London, our biggest competitor for attracting financial services and other multinational industries and sectors. I can understand the logic of the amendment seeking transparency but I cannot understand the logic which states that we should not put in place tax arrangements that attract the top executives from around the world whose companies will not come here if they refuse to come here. If they decide they do not want to stay their companies will also leave because we do not have the talent on our own to sustain and maintain these companies. We have to attract talent from other regions. That is a fact and I support this programme.

See this speech in context