Seanad debates

Thursday, 25 March 2010

Finance Bill 2010 (Certified Money Bill): Committee Stage.

 

11:00 am

Photo of Mary HanafinMary Hanafin (Dún Laoghaire, Fianna Fail)

): On Report Stage in the Dáil the Minister for Finance agreed to accept an amendment proposed by Deputy Burton. The amendment requires that a report be prepared for Dáil Éireann on the tax forgone and the benefits in terms of job creation or otherwise arising from tax expenditure included in the finance Bill 2010. While the Minister was happy to accept the amendment, he was concerned about the timescale proposed. Having consulted officials in the Department, it is his opinion that it would not be practical to prepare such a report in the timescale envisaged without unacceptable compromises in its quality and substance, which would undermine the rationale for the provision. Accordingly, the recommendation proposes a change which will extend the time period for the preparation of the report from one month after the passing of the Bill to three.

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