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

Mary Coughlan: The figure of between €80 billion and €90 billion came from the banks.

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

Mary Coughlan: There will be a process by which this will be valued and that valuation will be determined in due course.

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

Mary Coughlan: Deputy English also raised the issue of the timeframe and asked what will happen in the interim. I feel that liquidity in the banking sector will improve on the basis of the decisions to be made by this House, which were indicated today on the floor of the House by the Minister for Finance. Along with all of my agencies, I will continue to work with the banks on a constant basis to put...

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

Mary Coughlan: I cannot say that. That is not the way it is done.

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

Mary Coughlan: The Deputy should-----

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

Mary Coughlan: That is not true. I will explain that to the Deputy some other day.

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

Mary Coughlan: No, I do not.

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

Mary Coughlan: What about Coca-Cola? Is that not in the Deputy's constituency?

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

Mary Coughlan: We made a big investment in the local network.

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

Mary Coughlan: Who built that?

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

Mary Coughlan: Was it the fairies who built it?

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

Mary Coughlan: I was there on my holidays last year.

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

Mary Coughlan: I have been to County Wexford at least twice.

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

Mary Coughlan: I have been to Gorey, Rosslare and Wexford town.

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

Mary Coughlan: I wish to reiterate what the Minister for Finance said earlier today.

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

Mary Coughlan: He said: The potential maximum book value of loans that will be transferred to the agency is estimated to be in the region of €80 billion to €90 billion (although) the amount paid by the agency will be significantly less than this to reflect the loss in value of the properties. In the longer term, if the agency were to fall short of recouping all of the costs, the Government intends that...

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

Mary Coughlan: That information would have come from the banks in the first place.

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

Mary Coughlan: When we talk about the budgetary framework, it is important to emphasise that this country's 12.5% rate of corporation tax has been reiterated. That is very important to this country, especially if it is to attract foreign direct investment. I accept that it will be difficult to attract further such investment. We have done that in the past on the basis of our rate of corporation tax. Our...

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

Mary Coughlan: If we are to attract high-potential, high-value employment and jobs into this country, we have to provide incentives to facilitate that. This Government has done that.

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

Mary Coughlan: The Deputy asked how many jobs are being created this year. It is planned that IDA Ireland will spend €73.5 million and Enterprise Ireland will spend €103.6 million. The county and city enterprise boards will spend €20.2 million on microenterprises. Enterprise Ireland and Science Foundation Ireland will spend €295 million on research and development and innovation.

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