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

As I said, it is precisely because of the concerns the Deputy has just articulated that I have decided to make this change. In terms of its revenue impact, in the grander scheme of what we collect, I expect it will make a small contribution over time. I have decided this change has to be made on the grounds of tax equity. It was an appropriate and a correct decision at a point in 2012, when, as the Deputy said, the level of economic activity under way was very low and we were all working hard to try to attract more investment into our country, particularly jobs-rich investment. Having reviewed two aspects - first, the growth in the number of individuals who were in the scheme and, second, the growth in the number of individuals at the top end of the scheme and the amount of tax relief they were earning - I decided the reapplication of the cap was necessary. That is what I have done and I will review the impact of that cap on job attraction and job retention across 2019.

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