Thursday, 22 March 2012
Finance Bill 2012 (Certified Money Bill): Committee and Remaining Stages
David Cullinane (Sinn Fein)
The initiative helped to bolster the tourism economy in this country, which we welcome because we all want to see jobs and growth. However, the Government then decided to increase the top rate of VAT by 2%. It is madness. We are opposing this section because we want the Minister to put his hands up to admit he got it wrong and that the increase is impacting on the retail sector. It will not bolster the domestic economy and it is not what shoppers or retailers need. It will not be good for Ireland. We need growth and a strategy for investment but this is a regressive measure which should be reconsidered. I do not expect the Minister to accept our amendment today but I ask, in the context of upcoming budgets, that he take account of the impact of his decisions on the domestic economy.