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Financial Resolution No. 4: Mineral Oil Tax (7 Apr 2009)

Mary Coughlan: I propose that I be given at least one minute to respond.

Financial Resolution No. 4: Mineral Oil Tax (7 Apr 2009)

Mary Coughlan: That is okay. Molaim an rún ar dtús. Cuir an vóta.

Financial Resolution No. 4: Mineral Oil Tax (7 Apr 2009)

Mary Coughlan: I move the following financial resolutions:

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: I thought the Deputy's party were champagne socialists.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: That is a charge I will not accept.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: I want to refute the charge made by Deputy Higgins but I can discuss it later.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: It is better to have me that way than the Deputy.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: Actually, we could tax that.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: No.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: There will be transitional measures, which will be dealt with in the context of the Finance Bill. Although it would be appropriate to speak to the officials in order to have absolute clarity, the transitional measures will address the concerns raised by the Deputy.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: One must be reasonable. Deputy Morgan said we may not necessarily get agreement from all sides of the House when it comes to the issues we are discussing here in an amalgamation of all the financial resolutions. This is correct. I would normally concur with Deputy Varadkar's views on capital gains. A tax on capital would be the preferred option in normal circumstances, but unfortunately...

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: There is a social policy model whereby there may be good social services but it is the Government which dictates that everybody must do X, Y and Z.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: I am saying there is need to have a greater diversity of opinion in respect of our social policy as opposed to the Nordic model-----

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: -----not to mention the expense attaching to the latter and the fact that personal taxation in the Nordic model is astronomical.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: I appreciate that the Labour Party has a certain view about wealth. I cannot articulate that view in such a way as to ensure I am not thrown out of the House.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: Deputies Higgins and Broughan should be reminded that in recent years, the Department of Finance has evaluated the issue of tax evasion measures. The Minister has introduced procedures whereby we can move away from non-productive means of investment. Deputy Higgins raised one specific case in this regard. It is often forgotten that in the last budget we introduced a situation whereby...

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: As I said to Deputy Gilmore, the Commission on Taxation will deal with that issue. We must await the outcome of the commission's deliberations so that we can ensure broadening of the tax base.

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: That is the best way forward. The Commission on Taxation has given a great deal of time, energy and effort to listen, evaluate, analyse and discuss. It will bring forward its report in the autumn, at which stage the Government will make a decision on the broadening of the tax base. The Labour Party or any other party is more than welcome to make a submission to the commission, as many...

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: We must await the outcome of the deliberations by the Commission on Taxation before introducing any further taxation measures in the next budget. I have listened to Deputy Varadkar speaking for the past hour and a half in the course of which he referred several times to another budget. I am sorry to disappoint him in this regard but it is not the Government's intention to introduce a further...

Financial Resolution No. 10: Stamp Duties (7 Apr 2009)

Mary Coughlan: We have dealt with both capital and current expenditure.

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