Results 15,001-15,020 of 27,076 for speaker:Richard Boyd Barrett

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I do not agree to the section. May I comment on it?

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I will make just one comment for now and it will cover all the sections. The reason I am opposing these sections and would have opposed the first three, had I been fast enough, is that I oppose the Bill in total.

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: Section 6 allows for a certificate to be given to a group of inventions. Can the Minister explain this? My concern is that minor upgrades or improvements in a particular innovation could be made just for the purposes of getting the tax break and the certificate. They would not necessarily have to be new innovations. There might be one new thing to which minor changes are made, which then...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I want to flag my concerns about this. I am opposing the entire Bill because we have had clear evidence that corporations are using every means available to avoid tax and push the boundaries of the available tax breaks to minimise their tax bill. The criteria under which one can get the 12.5% tax rate reduced to 6.5% appear to be wide open to abuse and I do not see the safeguards against...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I am making a more general point, although I also have a specific point on this amendment. We will move through this and some of the other amendments that cover some of the same ground. There is no doubt that we need to encourage innovation. We should support innovators. I am not convinced that giving tax breaks to companies is the best way to support innovation, which is why I opposed...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I have not had time to read all the cross-references to all the legislation, although I remember debating intensely the knowledge development box at the time it was proposed in the Finance Bill. I ask the Minister of State to remind me what we are dealing with here. What does the existing legislation from the Finance Act do in terms of excluding small and medium-sized enterprise such that...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I made a slightly different point. This is genuinely a question rather than an argument. Why do we need a certificate specifically for small and medium-sized enterprises? Obviously, the Government wants to help small and medium-sized enterprises. I am not asking that question either. Is there a distinction in the existing legislation? Section 7 refers to relevant companies. Does the...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: Is there a different certification process for big companies that exceed the threshold?

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: Do they get a certificate from the Department?

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: Where in the existing legislation were small and medium enterprises excluded? I do not understand why they were excluded in the first place.

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I will not labour the point. Perhaps we can have a more detailed discussion with the officials or whoever in order to understand this measure between now and Report Stage. I listened to the Minister of State's response but I do not quite understand why we need this measure. If there are provisions governing the knowledge development box in the Finance Act, and other bigger companies above...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I agree with Deputy Lawless that a note would be helpful. I have nothing more to say on the matter. I wish to mention an issue that I raised on Second Stage. It is appropriate to raise it now as we are discussing the section that outlines who can apply, etc. How does this legislation protect us against bigger companies setting up companies as a front, or a series of them, that are under...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: Does the fact that I have flagged issues mean that I must formally say I may table amendments?

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I may do so also.

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I reserve the right to table an amendment to this section on Report Stage.

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I also reserve the right to table amendments.

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I move amendment No. 1:In page 14, between lines 23 and 24, to insert the following:"(3) The Minister may seek the introduction of appropriate categories or sectoral headings in respect of applications and request information from the Controller as to the proportion of applications under each heading.". This and most of the amendments that follow flow from our general concern about the...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I will not labour the point I have made. I thank Deputy Rock for endorsing the spirit of the amendments. While I have no doubt about how conscientious the Minister of State, Deputy Halligan might be in these matters, future Ministers may not be so conscientious. It is helpful for the Minister to have information that breaks down who it is that benefits from a particular measure or from the...

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I should know this as I have been through it so many times. Can I put this amendment in again?

Select Committee on Jobs, Enterprise and Innovation: Knowledge Development Box (Certification of Inventions) Bill 2016: Committee Stage (9 Mar 2017)

Richard Boyd Barrett: I move amendment No 2:In page 15, between lines 2 and 3, to insert the following:“(h) figures in respect of the geographical or regional distribution of applications,”.