Michael Collins (Cork South West, Independent) | Oireachtas source

I welcome the opportunity to speak on this important Bill. During my statement on the budget three weeks ago, I warned that what appeared to be a soft budget would prove quite different when the finances were broken down over the following weeks.

I hate to say "I told you so" but as we are trashing out the Finance Bill to implement all of the proposed budgetary measures and as there has been time to examine the various increases and decreases, it is clear that what I said was correct, namely, that the devil would be in the detail. The extreme increase in the rate of stamp duty, from 2% to 6%, for the conveyance and transfer of non-residential holdings is absolutely detrimental to small farms and businesses throughout the country. Businesses and farmers in rural areas are struggling to survive as matters stand. This huge rise in the rate of stamp duty will diminish the intentions of entrepreneurs to start up or expand in the near future. I am totally opposed to this new measure.

On budget day, I welcomed the €5 increase in all social welfare payments. However, why must the recipients wait until next March to receive this increase? Why could it not be effected immediately, as with the increase in the price of cigarettes? The increased rate of stamp duty came into effect on 10 October. The €5 million investment in the new strategic communications unit to allow the Government to improve its image among members of the general public was totally unnecessary and unacceptable. This €5 million would be better spent on addressing the problems in our health system or on the housing crisis.

The budget did very little for the agricultural sector. The Government not only implemented the insane change regarding stamp duty, it also did little to improve the lives of those in the agriculture sector. This is our biggest sector. The Government's failure to equalise the income tax credit for the self-employed before 2018, as promised in the programme for Government, was both disappointing and cruel for our self-employed.

On the fishing sector, I agree with Deputy Michael Fitzmaurice regarding Spanish lorries leaving Castletownbere in their droves every week. There is every incentive for foreign vessels to be looked after in our waters. Last week, our fishermen experienced one of the worst crises in many years. Their pots and materials were smashed up against the rocks by Storm Ophelia and Storm Brian. We are looking for a compensation package for those fishermen just so they can replace their equipment. The request is falling on deaf ears. The Taoiseach, Deputy Varadkar, passed the request to the Minister but the latter has not replied to help the fishermen at this time.

Overall, I am disappointed with both the Finance Bill and the various measures the Government has introduced. I do not believe I will be able to support it without a number of changes in respect of the issues I have outlined.

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