Seanad debates

Thursday, 16 June 2011

Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages

 

1:00 am

Photo of Darragh O'BrienDarragh O'Brien (Fianna Fail)

I appreciate what the Minister of State is saying and we will be debating this. However, it concerns me.

The Government is looking at a tax measure over four years of €1.8 billion. The Department of Finance would not be happy to know that we are raising a significant €470 million a year on the basis of the levy and will not be able to track the output of it. I understand the Government can do it on passenger numbers. That is easier to do. This is not necessarily an easy provision. However, it is a major taxation measure. It amounts to over €1.5 billion over a four-year period. I put it to the Minister of State that he would want to know whether or not this is working. I would not be happy with a situation whereby the matter will be regularly debated in committee or in the Seanad. What will be debated? Will we have any figures on the taxation measures here and the reductions in VAT and the various matters that we have covered, and not be able to track how successful that will be?

It is very important to get a handle on this. If the officials cannot quite do it now, the Minister of State should be asking them to find a way through Tourism Ireland and the retail sector. No doubt it will not be 100% scientific. Surely the Government would want to know that the jobs initiative is working. We are talking about a lot of money - nearly €1.8 billion. If I was in the Minister of State's shoes, I would not be happy implementing these measures and taxing existing pension schemes - we went through that yesterday and we disagree with the fundamental point - but not knowing the outputs.

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