Seanad debates

Saturday, 29 January 2011

Finance Bill 2011 (Certified Money Bill): Committee Stage (Resumed)

 

12:00 pm

Photo of Alex WhiteAlex White (Labour)

I am conscious of the time and I will not detain the House too long but I wish to respond briefly. This recommendation was never about and does not include within it anywhere an attack on reliefs. That is not in it. We could have a debate about the reliefs and their merits. However, the Members opposite fell into a trap which is not in the recommendation. It was never an attack on the reliefs. This is about cost benefit analysis, changing the way we view these matters and having an intelligent scepticism about all the reliefs. That includes the relief to which Senator Bradford referred earlier, of which I would be rather sceptical and on which we held a debate previously under other legislation. That is a matter for another day. The question is the sort of system we should have not only in here among ourselves and in the Department but also such that the public can participate in understanding that we are discussing revenue forgone to the Exchequer which could be used for other things. These are taxes the Exchequer would get otherwise.

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