Donie Cassidy (Fianna Fail)

Can I have the attention of the Acting Chairman while I am addressing the Chair, please? This is unacceptable. I seldom address the House.

I am unsure whether the income sought by the Government is attainable. Many of the establishments in question will finish up in NAMA.. As we are all aware, the State is doing its best to facilitate and help every sector that provides, maintains and sustains jobs. The level of income is not in place and it has fallen by in excess of 50%. The projections of investments made in the major years of 2005, 2006 and 2007 do not add up. The State has carried out great investment and has received a figure of 40% into the Exchequer from a sector that continues to employ high numbers. The State is receiving PAYE, PRSI, income tax and VAT on a month-by-month basis. I call on the incoming Government and Minister to examine the matter and to support those who create and sustain jobs and employment.

The position with section 23 is the same.

Tens of thousands of families decided to have their own pension funds or to provide for their children's education through purchasing a second house by availing of the section 23 relief. I have never had so many representations on a budget measure as I have had with the proposed removal of this relief. Will the Minister allow time for the economy to recover and an opportunity for these families to plan alternatives before removing the relief? Will he assign a cut-off date for its removal such as 2018?

While I accept no new schemes will be permitted under this Finance Bill, it is unfair to break the trust people had in investing their money in existing ones. It would be dishonest of any Government to break the trust of a contract. Who would believe in any new governmental scheme if one has already been broken? In the past, when it was difficult to borrow money, people invested in Government and ESB bonds which allowed them to put away five or ten shillings a week. I recall administering those investment bonds and their returns on behalf of the hard-working decent people of north Westmeath after taking it over from my parliamentary predecessor of 38 years.

Multinational corporations came to Ireland, making it the number one country in the world for inward investment, not just to avail of the 12.5% corporation tax rate but also because of the protections offered to intellectual property rights which the Acting Chairman, Senator Mooney, knows better than others. However, under some changes to the area, if artists, be it U2 or The Cranberries, release an album for Christmas, up to 60% of the royalties will no longer go back to the innovator, creator, the band or the record company. I know the Acting Chairman, Senator Mooney, is aware of this problem as he has a very talented family in this regard. Whatever success Irish artists can have worldwide, Ireland's royalty system is now the same as it is across the rest of the world.

There is a concern that no investors will come into the music business if intellectual copyright is not protected. We must amend the Copyright and Related Rights Act 2000, which gave us the advantage and made us world leaders in this field and which the Acting Chairman played an important part in framing, to address this concern. Will the incoming Government make this a priority? I understand the Attorney General's decision on copyright is back with the Department and the Minister has promised the industry that Ireland will become a world leader in intellectual property rights again.