Seanad debates

Friday, 28 January 2011

Finance Bill 2011: Second Stage

 

3:00 pm

Photo of Ann OrmondeAnn Ormonde (Fianna Fail)

This was the most unusual week I ever experienced in the Oireachtas. The Finance Bill has been brought forward in an unusual set of political circumstances. The proposal to accelerate its passage to facilitate an earlier general election means some amendments, such as those concerning civil partnership, will not be made. However, they will be addressed later in the year which is welcome.

I welcome the amendment concerning the new universal social charge that will mean medical cardholders will pay a rate of 4% rather than the 7% rate announced in the Budget Statement. The Minister is correct that everyone must pay according to their means. That 45% of income earners pay no tax is not a sustainable policy.

I too have received many representations regarding the removal of section 23 relief. I am glad the Minister has decided to postpone its removal and ordered an economic impact assessment of such a move. This relief was not just about big developers. Many, such as teachers, doctors, gardaĆ­ and ordinary everyday people, who had a lump sum often invested it in properties for rental purposes or as a partnership in a nursing home or medical centre while availing of the relief. It was established in a spirit of trust. Removing it would have a huge impact on employment. I am glad the Minister has seen fit to postpone its removal.

In the next several weeks during the election campaign, I hope every party will get a fair and balanced hearing from the media. I hope in interviews a Government representative will not be drowned out by the three representatives from the Opposition. Let the media take stock of what I have said and be fair in the forthcoming election campaign. We all have much to say about election issues and have a fair assessment of them. Let the best man win on the night.

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