Mattie McGrath (Tipperary, Independent) | Oireachtas source

I thank the Department officials for spotting this. There was much debate and many amendments in the Chamber from Deputies Fitzmaurice and Michael McGrath and myself about the whole stamp duty issue in respect of land and property. I have dealt with those real estate investment trusts, REITs and such operations. I said at the time that they were Ponzi schemes. We had huge opportunities to bring in some much-needed revenue from these faceless institutions, and we should have done that.

I am delighted that the Seanad was not disbanded when some in the Minister's party tried to disband it, or else this amendment would not be back before the House tonight. The legislation would have been gone on out away from here. I salute whoever it was who spotted this in order that we can block the loophole. It could have cost the State a lot of money. We see how ordinary taxpayers are penalised and put through the mill and scrutinised. We see how women were supposed to leave the Civil Service when they married. Those women are being treated horribly by the State. It is totally inequitable, yet the Government speaks of equality. We have not even got the money to start there. It is vital that there is a sense of fair play. We must be more watchful and have more eagle eyes in this regard. It may mean hiring more staff into the Department with expertise in this area - expertise that I and many Deputies here do not have - to watch for this kind of scheme or anomaly where people can get out under the gap and go away laughing. We, along with Revenue and our Department officials, need to be as creative and as diligent at watching those and blocking those loopholes as quickly as possible. The Taoiseach at the time said he got a wallop when the people rejected the proposal to get rid of the Seanad. I am glad the people did not get rid of it because the Seanad, as well as this House, has an opportunity to scrutinise legislation. It is similar to the referendum to give more power to Oireachtas committees. I am glad that the people also saw that proposal for what it was. It is fortuitous that this amendment is back before the House tonight and we can have a short debate on it.

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