Results 101-120 of 37,038 for speaker:Pearse Doherty

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I move amendment No. 74: In page 101, between lines 14 and 15, to insert the following: “Report on Banking Levy 81. The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the banking levy and, in particular, the effective rate of the levy relative to the net interest income and operating profits of in-scope...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I agree wholeheartedly with what Deputy O’Callaghan said. Both of us are looking for the same thing here, that is, an increase in the banking levy. The banking levy is at way too low of a level. I know the Minister will say that €200 million is being brought in. Compared to the profits of the banks, however, it is only a fraction. It would be interesting to hear the...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: We are not going to see eye to eye here but the Minister's defence of the banks making €5 billion profit and paying no taxes is that if we make them pay taxes, it is going to be bad for the little people out there. That is just laughable. We need to let them keep on paying no tax on their billions of euro in profit because really what the Minister is trying to do is protect all of...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: So this would not apply to Ulster Bank.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I do not see any such considerations. The Minister has asked a question; I will answer him. There is no policy reason to allow these banks to carry 100% of their losses forward - none whatsoever. The arguments the Minister has put forward, the straw men, are gone. It is not an issue of capitalisation; it does not exist. It is not an issue in relation to the dividends we would receive; it...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: May I just make one point very briefly? I do not want to open the debate again-----

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: -----but this would not apply, as the Minister knows, to new entrants into the market because what the Minister's predecessor, the late Brian Lenihan, did applied only to bailed out banks.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: Will the Minister explain the rationale for this section, in particular the addition of the provision that an asset may be used any time in the future six years? That seems to be a great widening of this provision. Before this, the asset had to be used by the business for two years. Now, the provision has been expanded in that it is required to be used for the specific purposes of the...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: Has the Minister any idea of the costs associated with the measure?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: This is an expansion of it but we do not know the cost of this measure. The Department is warning the Minister of the spiralling costs of the business relief, yet what we have on foot of that is an expansion of it. We have seen the business relief has grown by 215% in the past five years. We have seen the cost per claim has grown by 178%. It has gone from €85 million in 2016 up to...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: Yes, or they could be doing something else with the money. I know the Minister hopes that but that is not the question. The question I asked was about the Department having warned the Minister of the spiralling cost of the relief. He has brought forward an expansion of the relief now. Does he have any concern in relation to the spiralling cost as warned about by the Department in the tax...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: They said they are "spiralling". That is a direct quote; it is not my language.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: Yes

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: In the last year we have data for, the costs went up by 90%, roughly. It went from €224 million to €430 million. There were the same number of claimants, roughly. There were an extra 19 claimants. Does the Minister have any concerns in regard to that or any indications of where it may land this year?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I move amendment No. 77: In page 117, in between lines 34 and 35, insert the following: “Report on operation of General Anti-Avoidance Regulations. 91. The Minister shall, within 3 months of the passing of this Act, prepare and lay before Dáil Éireann a Report operation and performance of General Anti-Avoidance Regulations. I will move this amendment but not...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I move amendment No. 78: In page 118, between lines 7 and 8, to insert the following: “Report on taxation of bailed-out banks 92. The Minister shall, within 3 months of the passing of this Act, prepare and lay before Dáil Éireann a report on the amount of tax revenue lost as a result of bailed-out banks facing no restriction on their ability to off-set corporation taxes...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I thank the Minister for not reading out the rest of the report. It would go over some of our heads because it is technical and we do need it in front of us to be able to absorb it. I thank the Minister for his offer to send it to us before Report Stage. This measure provides clarity on what is already agreed as we are waiting for guidance. On the US part of it, are we likely to see any...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: Just for clarification, if an agreement were successful, would that require a change in our legislation? If it were not successful, would it require a change in our legislation? Is there a scenario, regardless of whether or not it is successful, where we will not need to change our legislation until next year's Finance Bill?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I am happy to do that. With the Cathaoirleach's indulgence, I will also mention amendment No. 88, another amendment of mine which I know we will discuss later. I agree with Deputy Timmins. Many years ago, I made the point to the Minister that there was an issue with the zoned land tax and agriculture but it was not heeded at the time. The easiest way to address it was to exempt active...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Pearse Doherty: I move amendment No. 87: In page 137, between lines 3 and 4, to insert the following: “Report on Residential Zoned Land Tax 100. The Minister shall, within 3 months of the passing of this Act, prepare and lay before Dáil Éireann a report on the Residential Zoned Land Tax and the effect it has had on the socially damaging practice of land hoarding.”. Based on...