Liam Fitzgerald (Fianna Fail)

Yes. I am an avowed supporter of the current Minister's overall strategy for a low tax regime with minimum borrowing. I say that unapologetically. The past five years of progress in this country are the strongest possible testimony to the success of his philosophy, vision and overall approach as Minister for Finance.

The Finance Bill is further evidence of the determination of the Minister to reform, modernise and simplify the tax code. As well as implementing the tax changes announced in the Budget Statement, there are a number of other reforming measures included in the Finance Bill. Their individual and aggregate effects will consolidate the spectacular gains in the economy in recent years. They further advance the creation of a low tax environment, which from the beginning has been consistent with his approach and vision. They target available resources at the lower income brackets and the elderly, which is very socially progressive.

The tax system is a hugely important instrument of public policy. It is one of the few areas of legislation that affects every citizen. Everyone is affected by decisions made in the budget and Finance Bill. The Minister's decisions on taxes always have a bearing on whether we have more or less disposable or discretionary income. In that regard, the Minister has announced consistently that he wants to give workers more choices and discretion as to how they use the money available to them. I am an avowed supporter of that principle.

Decisions on taxes also have a bearing on competition and, obviously, the corollary to that is jobs. They have a direct bearing on improvement in public services, which has been adverted to by Senator McDowell. If I get an opportunity I will return to that issue at a later stage. These decisions also have a bearing on the extent to which the tax instrument is to be used to target the needs of the poorest and most marginalised in the community. Together with these multi-effects of taxation policy, each sector of the economy is constantly demanding ever greater equity, fairness and transparency.