Results 3,541-3,560 of 4,414 for speaker:Sean Barrett

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I will respond briefly as I do not wish to intrude on Senator MacSharry's territory. The Minister of State's comments on coach tour operators are very important. For a long time, we had in place a Bord Fáilte certification regime and the side of tour coaches featured a shamrock. I gather this part of the Irish tourism sector did not contract when many other parts of the sector declined....

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: The downside of this is that all of these tax breaks are capitalised in higher land prices. We mentioned earlier that one of the differences between Ireland and New Zealand is that New Zealand pulled all these subsidies and grants out and the price of land fell, leading to new people entering agriculture. We are making land more expensive and, therefore, people cannot get into it. That is...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: The 66 year olds concerned should have a better view of the future generation than to require a ¤3 million tax-free exemption to pass on businesses to their offspring. I thank the Senator and the Minister of State but we must consider how some people manage to get these concessions. Is there any production anyway? Why would a farmer hate the next generation so much that he will not hand...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: This is the same argument. Reading from the explanatory memorandum, the new section gives effect to relief from capital gains tax where Teagasc has certified that the sale, purchase or exchange of agricultural land was made for farm restructuring purposes. Full relief from capital gains tax will be given. This is not the 66 year old, it is a more general application. Land prices are...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: There is a certain amount of mystification as to how reducing a tax break from ¤3 million to ¤1 million will cost the taxpayer money. As always, I was actually trying to save the Minister some money. A few minutes ago, the Minister of State praised the increase in capital gains tax, so why are we giving away ¤3 million tax free? The explanatory memorandum states that this section...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: What is the purpose of the exemption for the Pharmaceutical Society of Ireland from taxes proposed in the section?

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I apologise as that is a mistake. There was some renumbering and I did not change the detail. I am not opposing section 40.

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: There is a worrying part of the explanatory memorandum indicating that the real estate investment trust, REIT, may carry on other "residual" businesses. The clause that alarms me is that "the tax exemption applies only to the income and chargeable gains of the property rental business." We discussed earlier with Senator Hayden the danger that we return to where we were when "the tax...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I thank the Minister of State. When all other impositions were made on society, we protected the 12.5% corporation tax rate. I am sceptical of those who continually come back for more. These are deserving boys who are extremely rich individuals with a low tax liability. I appreciate the Minister of State's point that the purpose is to develop the country. However, the Government tends to...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I also welcome the Minister of State. I thank the Minister, Deputy Noonan, for his thoughtful and thorough replies to the debate. We are trying to get things done better in the country, which is the spirit in which the debate is being conducted. I am against tax breaks for airlines' hangars. I do not know what market failure it is supposed to be addressing. We have extremely profitable...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: No, I do not wish to speak to the amendment.

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I thank the Minister for his responses, as always. The material prepared for us by the most helpful Oireachtas Library & Research Service when the Minister for Transport, Tourism and Sport, Deputy Varadkar, was here discussing The Gathering indicated that there has been a serious decline in value for money in Irish tourism. I am unsure whether that can be made up by giving the sector...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I wish to comment on the cost benefit analysis. I wish to put on record that the Minister is conducting a cost benefit analysis in order that we are ad idem on it. I am not pressing the point because the Minister has decided to do the cost benefit analysis on research and development and I welcome that.

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I thank the Leas-Chathaoirleach for his ruling. I was seeking to save money. I supported the commercial sections relating to living in the city but there is a question about building grants for commercial buildings in certain areas. Had we not gone ahead with that, it would have saved money. Anyway, I appreciate the ruling of the Leas-Chathaoirleach. The retail sector was discussed here...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I appreciate the Minister?s points but what is the point of having Teagasc involved if we do not get its expert views? We can think about what we intend Teagasc to do in this regard over the year. It has much expertise and could help bring agriculture forward. I thank the Minister for his response.

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I move recommendation No. 17: In page 49, between lines 1 and 2, to insert the following subsection:?(2) This section shall only come into operation following a cost-benefit-analysis by the Minister of Finance indicating superior tax revenues to those foregone as a product of this section as a by-product of increased economic turnover and/or increased employment.?.I will not press this...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I believe I have drawn a short straw in addressing this section with a Senator from Killarney in the Chair. Section 22 provides for tax relief for the managing of a property used as a hotel, guesthouse, self-catering accommodation or comparable establishment. Is this not part of the problem from the past where we gave fiscal privilege for the construction of hotels? It did not do much for...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: My objective was to save the Exchequer money rather than being adjudged to have cost it money. I am concerned about the section, which was previously section 17 in the explanatory memorandum and deals with people dealing in or developing land. It provides them with loss relief where the decline in the land value has been realised by way of a disposal prior to the claim being made. We are...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I thank the Minister for his response. One of the differences between New Zealand agriculture and ours is that their land prices are much lower and output is much higher. Do we need, in general, to disincentivise land purchasing by people who do not use it for any purpose? Why does land cost so much in this country? Is there a fiscal privilege bound up in it? Was the Irish land and...

Seanad: Finance Bill 2013 [Certified Money Bill]: Committee and Remaining Stages (21 Mar 2013)

Sean Barrett: I move recommendation No. 15: In page 38, line 5, after ?submits? to insert ?for approval,?.This is a very brief recommendation and I hope it is not contentious. It proposes that certain documents must be submitted to Teagasc. Teagasc should not be viewed as a postbox but should exercise some discretion and approve of the contents of a plan. It should have a role in examining how these...