Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The Finance Bill refers to a one year period. The main reason for that is because I aim to carry out an overall review next year of how we provide benefit-in-kind treatment to all motor vehicles. I want to ensure that this policy decision next year fits into the broader review we have underway. As I confirmed on Second and Committee Stages, it is my intention to retain this relief for a minimum of three years. I accept that buying cycles stretch well beyond a single year, in particular for companies which are providing vehicles for their employees. It is my intention that this change will be in place for a minimum of three years, subject to this change proving to be successful, which I believe it will be. I might make further decisions beyond that once I have completed the review of benefit-in-kind treatment for motor vehicles.

I agree with nearly all of the arguments advocated by Deputy Wallace. It is for that reason that I am reducing the rate to 0%. As I said, I envisage the provision being in place for a far longer time period than is referenced in the Bill.

See this speech in context