Results 29,061-29,080 of 35,924 for speaker:Pearse Doherty

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: It just sounds good that we are tapping the pensions industry to help to pay for potential failures in pensions.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: It is not being ring-fenced for that purpose.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: I welcome this levy on financial institutions. As the committee will see from the amendment which has been ruled out of order and which I discussed with the Minister earlier, we should not allow AIB or Bank of Ireland to avail of section 33 and we should have increased their levy if they were able to profit from what we have done in section 33. Did any financial institution which would be...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: I disagree with this as well. The sector argues that we should get rid of the 1% stamp duty across the board, as Deputy Michael McGrath suggested. I fundamentally disagree with that but the sector will make arguments that it is good for investment, business and the economy. If one believes that point in respect of this section, why not believe it for the rest? I disagree with the route...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: I move amendment No. 93: In page 82, to delete lines 14 and 15 and substitute the following:“(b) 0.50 per cent of the chargeable amount for the year 2014 and 0 per cent in 2015 and all subsequent years.”.”.Can I hear the response of the Minister of State?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: There has been much discussion about the levy, which was introduced originally to fund a number of initiatives, including the extension of the 9% VAT rate, which is to be welcomed but will require money that was not budgeted for. That must come from the pensions industry. The extension of the 9% VAT rate does not does not need a 0.75% levy on the pension industry. It does not even need a...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: I cannot imagine we will still be calling it a jobs initiative in five years' time. The levy will continue at that point. This is tapping into the sector and the money will be sloshing around in Revenue accounts and will pay for X, Y or Z whenever we need to use the money. The Minister of State referred to the pension industry and the Minister for Social Protection, Deputy Burton, has made...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: We will not tear the backside out of this issue as it was discussed last year; the Minister of State has given the same response, word for word. If nothing else, the Minister of State is consistent.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: The Minister of State is not being institutionalised.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: Do not worry, I will do so. I can be persistent. I am making the same points I made last year. The process would not be overly burdensome. I would be the last to apply additional layers of bureaucracy as we should shed bureaucracy from the agricultural community, with efficient regulations to replace the overly burdensome red tape that we have. There is the issue of asking any contractor...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: My amendment also allows for that. It is not an opposite idea, as mentioned by the Chairman.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: It is my poor English.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: I welcome that.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: I move amendment No. 83: In page 79, between lines 28 and 29, to insert the following: “62. Section 80 of the Principal Act is amended by inserting a new subsection between subsections (5) and (6) to read as follows: “(5A) Where, in relation to a supply of agricultural produce or an agricultural service by a flat-rate farmer, an invoice is issued, that invoice must carry a VAT...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: That has been the priority for the past two years. The Betting (Amendment) Bill was published in July. This has been signalled. The 2% increase was included in the Finance Act 2010, but a decision was then taken not to proceed with it. The Minister of State is 100% right, in that online exchanges should have been subject to this excise tax. Additional questions arise. I have met some of...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: I move amendment No. 79: In page 73, between lines 24 and 25, to insert the following:"52. The Minister shall, within one month of the passing of this Act, prepare and lay before Dáil Éireann a report on options available for the introduction of a rate of 3 per cent betting duty for online and in shop bets.”.This calls for a report on the options available to introduce a 3%...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: This amendment is not restrictive of commercial space. The problem is that if the Minister is bringing forward a section 42 which deals solely with capital gains tax for properties, excluding residential properties, that would a different debate. We are in a mess with mortgage arrears because of buy-to-let properties. People are not stupid. Prices are rock bottom and they will increase....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: They have hit the bottom in terms of the trajectory where they have fallen by 55%.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: Of course, we are only playing with-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Pearse Doherty: Nobody ever calls it a bubble until it bursts. I am not suggesting it is a bubble, but there is definitely an issue. There was logic in introducing this measure last year because there was next to no activity in the market. The measure aimed to encourage people to have a look-around. There is activity now, but there is also a supply issue. I agree with the Minister of State that we have...