Seanad debates

Wednesday, 26 March 2003

Finance Bill 2003 [ Certified Money Bill ] : Committee and Remaining Stages.

 

If there were automatic indexation, everybody would have to get the same increase every year. If we were to build this into legislation regarding taxation bands, credits or allowances, we would limit the flexibility of the Minister for Finance. We must always retain maximum flexibility depending on the state of the public finance at any given time. I understand the purpose behind the recommendation but it would not be the way to go. No Government or Minister for Finance would be inclined to tie their hands in that way.

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