Paul Coghlan (Fine Gael)

This recommendation makes eminent sense. It proposes a cost-benefit analysis of tax expenditure and the benefits gained in respect of job creation; the latter must be the first priority. This is completely in line with the Minister's own impact assessment of some of the other matters dealt with in the Bill, as well as the schemes commented upon widely. Some schemes may have been extended too far or have gone too far, but I completely agree that there is a need for an economic impact assessment and a cost-benefit analysis as proposed. I am sure the Minister will agree that this must be a sine qua non. As Senator O'Toole noted, the Minister would not make any decisions with his senior officials without this information. It is fundamental to have such an analysis. With regard to the schemes in place in a general sense, the reason I agree there should be an economic impact assessment is that from henceforth two arms of the State effectively will be competing for diminishing resources. The banks, now largely nationalised or in majority State ownership, will be competing with the Revenue Commissioners for funds. Consequently, I completely agree with the thrust of this measure, as well as the recommendation, because job creation must be foremost in all of our considerations.