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)

I beg pardon. I appear to have matters in the wrong order. This issue has been debated in the Dáil as well. We understand that the cost of the recommendation proposed by Senator Twomey would likely be in the order of €16 million per annum, with a total cost of €64 million over the lifetime of the proposal. It is very difficult to justify these costs in our current economic circumstances. The Minister, in setting the 2004 date, decided this was the optimum date for cut off since that was the point at which prices started to go up. It was believed that was the most appropriate date having regard to house prices at the time and the extent of benefit relief over the next few years.

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