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Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: I thank the Senator. He is very kind.

Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: It was sarcasm.

Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: That is sarcasm.

Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: Senators are very narky today.

Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: Perhaps Senator Conway-Walsh should be afforded the opportunity to respond.

Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: There is no response.

Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: Senators seem to have taken the funny beans this afternoon. I thank those who contributed to the debate. On the night of the budget, I responded to all the points made by them-----

Seanad: Finance Bill 2019: Second Stage (26 Nov 2019)

Michael D'Arcy: I was just about to say the same. I was given out to for speaking for 45 minutes that night. We will have further discussion on specific provisions in the Bill on Committee and Report Stages. For those Members who had questions that are outside the scope of the Bill, I will try to get back to them with responses. I have never pretended that everything is 100% right. It is rarely the case...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: Yes, such an employee is eligible for the scheme. It is important to understand that the development agencies working on behalf of Ireland are operating in a competitive sector. It is easy for the Senator to offer a figure of €105 million but there no structure on which that figure is based.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I am doing so. In 2017, which is the last year for which we have a final figure, the cost of the SARP scheme was €28.1 million. The Senator's extrapolating of numbers upwards is a concoction.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I am not sure how the Senator's figure of €105 million was constructed. I know she does not like dealing with actual numbers.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: We do not have the figures for 2018 or this year. I am giving the Senator the figures I have.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: We do not have the figures for last year or this year.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I said that the Senator concocted a figure for 2020.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: The Senator is plucking a number from the sky so that she can pretend that this scheme is a terrible thing. She referred to specific allocations for healthcare and social protection but she did not mention the overall healthcare allocation of €19 billion for 2020, which is the highest amount ever. She did not refer to the €20 billion budget for social protection. The Senator...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: To put it in context, approximately 270,000 people are employed by foreign direct investment companies. For each one of those jobs there is another job that is linked to those companies. These are extremely valuable companies for Irish employment. The conversations in political chambers can be very pure and the Senators are having a very pure discussion about tax. I would love everybody...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: Have they read it?

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: The report says that this is good value. It is money well spent.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I agree with it. We will not be changing our view on this at all. The issue here is the amount of tax to be paid. One of the figures I have is very important. The top 1.5% of income earners in the State pay 25% of all income tax and USC. Other figures can show the Senators the position as well. These are the same Senators who disagree with the Taoiseach's wish to increase the threshold...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I am just responding to the Senators.

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