Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The amendment we are debating, No. 42, looks for a report to be provided within six months. My amendment No. 44 is similar but the amendments are not grouped. It has been said that the Minister will deliver a technical paper. We need to get more detail on what will be in the technical paper. The amendment before us looks for the options available to restrict the carrying forward of losses. The other amendment looks for details on the potential impacts of restricting the carrying forward of loss relief. Can the Minister give an assurance that both of those issues will be addressed comprehensively in the technical paper or report or whatever one calls it? Could he elaborate on that and provide confirmation?

I take it from what has been said that the Minister does not want the measure to be in the Finance Bill but could he give us a commitment on a timeframe? A report has been requested within six months and for the Minister to then agree to make himself and his officials available to go through the technical paper or report on the options and their implications. We need to have the full facts on what the implications are. We have it on the record in respect of AIB and Bank of Ireland that no additional capital requirement from the State will be triggered. Permanent TSB may be in a different situation and that may be a consideration for the Government. I do not know but those are the facts that we need to have at our disposal when we make such an assessment.

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