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

Paschal Donohoe: I move amendment No. 108: In page 130, to delete lines 17 to 23 and substitute the following: “(g) in section 128B(1)— (i) by the substitution of the following definition for the definition of “relevant person”: “ ‘relevant person’ means— (a) an accountable person, or (b) a person that is required to deliver a statement...

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

Paschal Donohoe: Amendments Nos. 109, 110 and 111 are grouped together and I will speak to each of them in turn. Turning first to amendment No. 109, as the Deputy is aware, earlier this year I introduced a special 10% rate of stamp duty to apply to the purchase of ten of more houses in any 12-month period by any person or corporate entity. This rate came into effect from 20 May 2021. The new rate does...

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

Paschal Donohoe: I will deal with each of the questions in turn. To begin in the order in which Deputy Doherty addressed the issues he raised, I refer to the issue of commercial stamp duty, the latitude for it to be increased further and the role it might play in not only raising revenue but also, more importantly, shifting capital into the delivery of more homes. That is one of the reasons I have over...

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

Paschal Donohoe: Absolutely, but at what time are we breaking?

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

Paschal Donohoe: Are we voting on this group of amendments after I finish?

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

Paschal Donohoe: I suspect we are going to hear the term "non-Exchequer" a great deal more from Sinn Féin in future because the claims it makes cannot be backed up by its figures. It claims that it can build homes at a fraction of the actual cost and-----

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

Paschal Donohoe: -----it continues to make the charge-----

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

Paschal Donohoe: The louder the voice, the weaker the argument. The more the heckling, the shakier the ground. This is the ground that Sinn Féin is on. I will now move on to my record and my future but, more important, the future of what we need to do in respect of housing. Sinn Féin is telling the Irish public to trust it and it can build a home for €150,000, but what is the answer to...

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

Paschal Donohoe: These are the figures.

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

Paschal Donohoe: Twenty thousand social homes at a cost of €3 billion. The maths of that is €150,000 per home. The latest incarnation and flowering of the magic money tree from Sinn Féin is the phrase "non-Exchequer". These are the figures in Sinn Féin's calculation.

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

Paschal Donohoe: As to whether we want to and are going to build more social homes and see the State play a role in that, the answer is an unqualified "Yes". This is not just a promise for the future. Rather, it is the reality of what is happening now. It is the reality of this Government, despite our construction sector being closed for so long due to a pandemic, now having 8,750 social and public homes...

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

Paschal Donohoe: Excuse me, I want to come back in again. Jibes have been made against me. If are going to suspend Standing Orders, I am going to be treated fairly, as it happens. The Department of Housing-----

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

Paschal Donohoe: I will make a final and brief point. I welcome the fact that Deputy Boyd Barrett put together his party's housing budget on the basis of housing figures that were developed by the Department of Housing, Local Government and Heritage and the Department of Finance. The figure from the Department of Housing, Local Government and Heritage for the cost of building a social house nationally is...

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

Paschal Donohoe: I propose to delete this section.

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

Paschal Donohoe: I move amendment No. 113: In page 132, after line 30, to insert the following: “Amendment of section 82 of Principal Act (exemption of certain receipts) 64.Section 82 of the Principal Act is amended, in subsection (1), by the substitution of the following paragraph for paragraph (c): "(c) the receipt by a person of any winnings bona fide, in money or money’s worth,...

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

Paschal Donohoe: We are making two changes. We are making clear that any sum received in a bona fide way from betting, lottery, sweepstake, game or prize is exempt from capital acquisitions tax. We are also making clear the exemption is no longer restricted to cash prizes.

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

Paschal Donohoe: That would not be seen as a bona fide event. The Revenue Commissioners would see it as being not bona fide and, as such, it would not benefit from the exemption.

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

Paschal Donohoe: I apologise. I missed the Deputy's second question.

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

Paschal Donohoe: I will keep this under review, as I have done since introducing EWSS and its predecessor, the temporary wage subsidy scheme. Both of them have paid out more than €8 billion to support employers and have played a vital role in protecting our country's economy. Making a change to the date of 1 January 2022 would require a legislative change. As to whether I support the Government's...

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

Paschal Donohoe: I do not believe so at the moment. Even though new entrants cannot join from 1 January on, they can do so all the way up to the end of December. While I can never be certain about where we will be with the disease, which is an obvious point to make by now, if things take a turn for the worse, employers can enter the scheme at any point up to the end of the year. This gives adequate scope...