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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I will press it on the basis that I can come back to this matter on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I do not quite understand the section and I ask the Minister to explain it. I have read the notes and the memorandum and I have tabled a parliamentary question. I want to understand what is meant by the change in the terms and the extension of the eligibility for section 481 to cover labour-only services. I am sure the Department officials know that I am concerned about bogus...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Can I comment on the section?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I apologise. I was trying to bilocate again, unsuccessfully this time. We had an amendment that, unfortunately, I was not present for. It relates to the extension of the section 481-type relief to the digital gaming sector. We have a concern about this. We want to support things that will create employment in this area, which is one where there could potentially be jobs and so on. We...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I did. As I said yesterday, notwithstanding the Minister's replies the decision to invite these vulture funds, investment vehicles and property speculators into this country, supposedly to assist the housing sector, will, when the history books are written, turn out to be the most disastrous decision ever taken. Frankly, it is the biggest heist on the Irish people and has contributed to one...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: But Deputy Doherty could possibly speak to the carbon tax amendment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Then I could speak to it too.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I will boil down to the human level the question Deputy Doherty has outlined very well about the rationale for carbon tax and what it is intended to achieve. I got a call this week from somebody who lives in a council house in which the windows and doors are completely inadequate to insulate the house against the cold weather. She moved into the house just a while ago. The whole row of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Yes. Was it the Garrett FitzGerald Government that fell over VAT on children's shoes? I am not sure about the Minister's take on the historical debate around climate change and the issues around addressing it or failing to address it and whether he is right that it is a carbon tax. However, if the energy price crisis now unfolding for people continues at the current pace because they...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Unless the Minister can persuade me otherwise, this section should be opposed. I apologise if I am repeating points made earlier. This is effectively a €63 million tax cut for the banking sector. The Minister is planning to exempt KBC and Ulster Bank, which are exiting the market, from the bank levy. The business that KBC and Ulster Bank do will remain and will be taken over by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: This is the same conversation about the exit of these two banks. I do not quite understand, from the Minister's response, how the decision was reached and what precisely he is trying to effect. I am one of the account holders affected by this and it is of extreme concern, as it is for 1 million other people too. It is a major hassle. All the account holders and their business will stay...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I am genuinely confused. When we tabled this amendment, we thought we had either got this issue wrong and missed something or we had actually stumbled upon something. The more I hear the lack of a real rationale other than there will be disruption in the sector, which there will be for 1 million people, as the Minister rightly said, the more I think it is the latter. How, precisely, does...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: And vice versa.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I will come back on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: We discussed this earlier but it is such and important subject that we must put as much pressure as possibly can on the Minister and the Government to rethink their attitude towards these investment vehicles. Sometimes we repeat phrases so much that they begin to lose their value and we forget what we are talking about when we talk about these vulture funds. If anybody wants to remind...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: The Minister asked a legitimate question, namely, are we saying there should be absolutely no private sector involvement in housing? What I would say to that is the State cannot rely on funds, investment entities and property and real estate firms - whatever we want to call the vultures, as they are often described these days - to solve our problem, and we have a problem. It would be very...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: Hold on a second-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: The Government made the decision to put the money into the banks.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: What do you mean from where? From the pockets of the working people of this country.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Richard Boyd Barrett: I have not finished.

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