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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Unless the Minister can persuade me otherwise, this section should be opposed. I apologise if I am repeating points made earlier. This is effectively a €63 million tax cut for the banking sector. The Minister is planning to exempt KBC and Ulster Bank, which are exiting the market, from the bank levy. The business that KBC and Ulster Bank do will remain and will be taken over by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: This is the same conversation about the exit of these two banks. I do not quite understand, from the Minister's response, how the decision was reached and what precisely he is trying to effect. I am one of the account holders affected by this and it is of extreme concern, as it is for 1 million other people too. It is a major hassle. All the account holders and their business will stay...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I am genuinely confused. When we tabled this amendment, we thought we had either got this issue wrong and missed something or we had actually stumbled upon something. The more I hear the lack of a real rationale other than there will be disruption in the sector, which there will be for 1 million people, as the Minister rightly said, the more I think it is the latter. How, precisely, does...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: And vice versa.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I will come back on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: We discussed this earlier but it is such and important subject that we must put as much pressure as possibly can on the Minister and the Government to rethink their attitude towards these investment vehicles. Sometimes we repeat phrases so much that they begin to lose their value and we forget what we are talking about when we talk about these vulture funds. If anybody wants to remind...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: The Minister asked a legitimate question, namely, are we saying there should be absolutely no private sector involvement in housing? What I would say to that is the State cannot rely on funds, investment entities and property and real estate firms - whatever we want to call the vultures, as they are often described these days - to solve our problem, and we have a problem. It would be very...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Hold on a second-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: The Government made the decision to put the money into the banks.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: What do you mean from where? From the pockets of the working people of this country.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I have not finished.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I was. Apologies. I know there is something buzzing behind me. I will genuinely try to be brief.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: We have set out our positions and they are clearly divergent. However, it is necessary to answer the questions the Minister put, so that there is no suggestion that there is a lack of internal logic in the arguments that socialists are putting forward on this point. Our argument was and remains that the assets and the means by which one can produce the housing that is necessary, both...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I move amendment No. 106: In page 122, between lines 9 and 10, to insert the following: “Report of Minister 58.The Minister shall, by 31 December 2022, lay a report before both Houses of the Oireachtas reviewing the financial impact of the exit of Ulster Bank and KBC from the Irish market on Allied Irish Bank and Bank of Ireland, whether the levy on certain financial institutions...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: These amendments are well directed. The 10% being charged on some residential property, where it is over nine properties, is completely inadequate to deal with the phenomena of the big property investment vehicles coming in here and bulk buying property. No measure has been taken by the Government to prevent them bulk buying apartments. If the levy is imposed on some parts of the housing...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Absolutely. There was a policy choice or a decision made at that time which was to bring these entities in. At least the Government is remaining consistent because it still thinks they should be here. It is defending the decision to invite them in, it is defending the decision to keep them here, and it is suggesting they are going to contribute even now to resolving the housing crisis. I...

Ceisteanna - Questions: Departmental Bodies (16 Nov 2021)

Richard Boyd Barrett: I hope the Taoiseach and the Minister for Housing, Local Government and Heritage will address urgently what I hope is an unintended consequence of a new statutory instrument that was introduced in March of this year. The instrument changed the income assessment arrangements for social housing. I have been trying to get to the bottom of this because I am dealing with a family of eight who...

Ceisteanna - Questions: Departmental Bodies (16 Nov 2021)

Richard Boyd Barrett: 12. To ask the Taoiseach if he will report on the work of the housing and infrastructure unit of his Department. [54563/21]

An tOrd Gnó - Order of Business (16 Nov 2021)

Richard Boyd Barrett: With the decision to impose a curfew after midnight on nightlife and the recommendations to work from home from Friday, many people who work in those areas or who depend on those areas for work will lose income and, in many cases, or lose their jobs outright. Against that background, it is completely unacceptable that today we should be reducing the pandemic unemployment payment, PUP. Not...

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