Results 27,241-27,260 of 32,583 for speaker:Richard Bruton

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I move amendment No. 17: In page 60, between lines 12 and 13, to insert the following: 25.---Section 10C of the Principal Act is amended by the deletion of "2010" in B, and the substitution of "2012".". This amendment arises from proceedings on Committee Stage. I understand this issue is still a cause for concern in some sectors of the tourism industry. The golfing sector has been...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: That is a fairly robust defence of the Minister's position, so I have to accept it. Continuing representations are being made to Deputies, particularly by spokesmen in the tourism sector, that this is a cause of difficulty for the industry but the Minister has presented quite a number of reasons that I cannot refute.

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I move amendment No. 12: In page 17, between lines 40 and 41, to insert the following: " "(1A) From the 21st of May 2009 any application for this relief shall be accompanied by an analysis conforming to guidelines set by the Revenue Commissioners demonstrating that the social benefits of the project exceed the social costs.".". On Committee Stage, the Minister indicated in his reply to a...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I am disappointed the Minister tried to defend not having cost-benefit analysis by suggesting he believes the worst case of a tax relief dated back to a Government-----

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: Yes, I was a member of it. The evidence, if the Minister bothered to look at the work done by the eminent consultants, was that all of these tax reliefs, such as urban renewal reliefs, were found to be delivering poor value.

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: What is even more disturbing is that the Minister, in having thrown out the political hare, then decides he will not accept the amendment so we will not have costs and benefits applied.

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: He wants to see a situation where Ministers will in future have the incentive to bring in hare-brained ideas. If the Minister wants to berate people for making mistakes in the past then, first, he cannot be as selective as he likes to be and, second, as the responsible Minister, he has to do something about it and correct this defect. It is a little rich for the Minister to make complaints...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I was just getting into my stride. I have been saved by the Ceann Comhairle again.

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I move amendment No. 13: In page 17, between lines 48 and 49, to insert the following: ""(1A) From the 21st of May 2009 any application for this relief shall be accompanied by an analysis conforming to guidelines set by the Revenue Commissioners demonstrating that the social benefits of the project exceed the social costs.".". It is the same point as in the last amendment but in respect of a...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: The Minister is suggesting that if planning applications are made to build the hospitals before a certain date, they will get this relief, so he is not closing this scheme off to projects that are in the pipeline. Taxpayers' money will be expended on these projects, which many regard as wrong-headed. The Minister as the gatekeeper for that taxpayers' money should insist that we have the...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I move amendment No. 14: In page 20, between lines 12 and 13, to insert the following: "(a) by the insertion of a new subsection (1A) as follows: "(1A) From the 1st of July 2009 when banks issue a statement of interest, they will show the amount deducted in Deposit Interest Retention Tax.".". I tabled this amendment after being contacted by an individual who believes that bank statements of...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: What is the basis on which the Minister says this will create many million statements? Are there many million accounts for which no statement is issued from one end of the year to the other? I thought that the standard practice was to issue a statement at frequent intervals, at least annually, generally quarterly and more often monthly. We are not inventing some great administrative burden...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: The information could be included in the existing statement. As long as it is shown, I do not seek a separate statement.

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: It is not shown on the statement.

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: When a statement issues that shows the interest it would also show the DIRT deducted. That is the essence of the amendment. The Minister's reply, as I understand it, is that it could not be done because it would require millions of statements to be issued. My belief is that everyone gets at least one statement per year which shows the interest that has accrued to the account but, as Deputy...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I move amendment No. 15: In page 39, between lines 18 and 19, to insert the following: "and where any application for this relief has been accompanied by an analysis conforming to guidelines set by the Revenue Commissioners that the investment of the specified intangible assets will add significantly to the value added in the investing company.".

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: The Minister rightly shows how the fact of the claim will be set out but not its benefit. The reason the taxpayer is asked to subsidise this is that it confers some benefit in terms of value added to the investing company, which is presumably additional to national wealth and therefore justifies our concession. The Minister's review of these tax schemes in the past would have revealed to...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I welcome the Minister's statement that he will bring our concerns to the attention of the Revenue Commissioners. The House ought to see that in some shape or form. I will be content to withdraw my amendment if we can receive assurance from the Minister that not only will data be collected, but that the report will show us some element of benefit. I chose the phrase "value added" in that...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I move amendment No. 16: In page 60, between lines 12 and 13, to insert the following: "25.—Part 30 of the Principal Act is amended by inserting a new section: 785.—A person who reaches retirement under a Defined Contribution Pension Scheme shall from 1st March 2010 not be required to purchase an annuity unless they do not have an income equivalent to the Non-Contributory Old Age Pension...

Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)

Richard Bruton: I am content to withdraw this amendment and look forward to the publication of a document which the Minister seems to indicate is quite imminent.