Brian Stanley (Laois, Sinn Fein) | Oireachtas source

I move amendment No. 8:

In page 49, between lines 33 and 34, to insert the following:"(2) These regulations shall be reviewed every 5 years.".

Amendment No. 8 deals with mining licence fees and proposes that the Minister would review them every five years. There is no mechanism under the legislation whereby fees can take account of market changes. For them not to be bound by that would be a bad deal.

We have to address the important issue of royalties and the ability of the State to gain the best value possible from our resources. We must ensure that the State receives a fair and reasonable return from our mineral resources because our people lost out in the past in terms of commercial developments. That has been a particular problem with our offshore resources but we do not seem to be doing very well with our onshore resources. I have some figures on that. We need to achieve the best price possible. It is worth noting that the State receipts from mining licences and leaseholders was €6.16 million in 2009, €6.9 million in 2010, €9.68 million in 2011 and €8.6 million in 2012. They appear to be modest figures if we take account of the turnover figure for 2012. We know that turnover does equal profit. In some industries there can be a narrow margin of profit, which is understandable. Mining, in general, tends to have a good turnover depending on what cycle one is at in it. A benefit of €8.6 million to the State out of a turnover of €426 million appears to be on the slim side.

In amendment No. 9 we ask that the Minister shall seek a fair and reasonable return. Amendment No. 10 is connected to that. It proposes that the Minister may have regard to issue concerning commercial interests. Amendment No. 11 proposes that the Minister must review the royalty regulations every five years instead of every eight years. That is to allow for greater accountability and also changes in markets and so on.

Amendment No. 12 proposes that the Minister shall report to the Houses of the Oireachtas and to the Oireachtas joint committee on each review of royalty regulations and the rates that royalties are set, which is an important provision. That will provide for transparency. While new politics is something of a cliche, we have talked a good deal about strengthening the committees, giving them teeth and a strong role. We have seen that this is important. However, people outside this House might view that negatively as it slows down the passage of legislation. During this Dáil term not as much bad legislation has got through. There has been greater scrutiny. While some legislation has gone through with which we would not agree from our political perspective, best practice has been adhered to. The committees have a role to place.

Amendment No. 13 proposes that the Minister must report to the Oireachtas on the waiving or deferring of a licence fee or royalties from minerals or one-off royalty payments on projected benefits from royalties. That would ensure greater accountability to the Oireachtas. We do not consider that to be over-onerous. It would give the Dáil and the Oireachtas committee their place, ensure people's interests are protected and that we achieve the maximum benefit from our natural resources. I hope the Minister will consider these amendments in the spirit that Sinn Fein put them forward, thereby ensuring that the State and the people's interest are always protected.

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