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Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: -----introduce an amendment to extend the 90% tax rate-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: -----in the current legislation for which there would be full support from all sides of the House?

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: The Minister indicated his intention to introduce a 90% tax rate on all future bonuses.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: Can the Minister not introduce that measure in this legislation?

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: I really want to hear the Minister's answer to that question.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: The purpose of this Bill is to cut public services, the pay rates of Government officeholders and to take €1 or 11.5% off the minimum wage. The Bill contains another batch of cuts following on the slash and burn Social Welfare Bill yesterday. This time it is public service pensioners and the minimum wage earners who are hit. A sweetener is thrown in, curtailing the earnings of the...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: Yesterday's Social Welfare Bill made all the social welfare cuts operational from the end of December 2010 or the beginning of January 2011. High earners are given time to acclimatise to "adjustments" while so called "social protection adjustments" are immediate and ongoing. It gets even worse for the less well off. The Minister for Finance put it chillingly in his budgetary speech: "Over...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: The Fianna Fáil view of the financial crisis is frightening. The sins of the bankers will be visited on social welfare recipients. The less well off must pay for the bailout. The title of this Bill is the laughable Financial Emergency Measures in the Public Interest (No. 2) Bill. It is a bad political joke from the gombeen party of Ireland. How can it be in the public interest to reduce...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: Why will the Minister not table an amendment-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: I ask the Minister to allow me to finish and he can respond then.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: The Minister has already said he will introduce a 90% tax on future bonuses so it is not fully taxed.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: The Minister's response is typical. It is like Saint Augustine, it will happen but not yet. It will happen in the future.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: The Minister has announced that there will be a 90% tax on such bonuses in the future. He cannot deny that fact. However, he is not willing to do it now with regard to the €40 million that will be paid out. I ask that the Minister table an amendment to the Bill, in keeping with its title of emergency measures in the public interest. Surely this is an emergency measure in the public...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Joe Costello: That is a cop-out.

Social Welfare Bill 2010: Committee and Remaining Stages (9 Dec 2010)

Joe Costello: Perhaps he should do another assessment.

Social Welfare Bill 2010: Committee and Remaining Stages (9 Dec 2010)

Joe Costello: In the same way as we would not have a rate of blanket guarantee with regard to the banks.

Social Welfare Bill 2010: Committee and Remaining Stages (9 Dec 2010)

Joe Costello: On a point of order, the Minister is making a Second Stage speech.

Social Welfare Bill 2010: Committee and Remaining Stages (9 Dec 2010)

Joe Costello: There is a guillotine on all of these amendments.

Social Welfare Bill 2010: Committee and Remaining Stages (9 Dec 2010)

Joe Costello: There is no reason for the Minister to imitate Deputy Ó Snodaigh.

Social Welfare Bill 2010: Committee and Remaining Stages (9 Dec 2010)

Joe Costello: We are not. The Deputy came in too late.

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