Michael McCarthy (Labour)

I will revert to the content of this recommendation which refers to the carrying out and publication of a cost-benefit analysis. One needs to be familiar with the information behind such schemes. People are entitled to know what are the benefits, if any; what is coming in and what is going out and to be aware of revenue or income forgone. The making public of such information would be helpful in the construction of a balanced debate on this entire issue. Second, in the current climate any tax incentive scheme or any scheme of this nature should be considered in the context of stimulating growth and job creation because this is the single biggest issue facing the country. As Members are aware, the outlook on the unemployment crisis is bleak. Third, when legislation such as this is being framed, many of the terms used are beyond the technical expertise of many parliamentarians in both Houses. The legislation is constructed in a manner that only lawyers and tax consultants can understand. There is also an issue in respect of how the information and the associated terminology can be simplified to make a connection with the ordinary Joe Soap.