Seanad debates

Thursday, 22 March 2012

Finance Bill 2012 (Certified Money Bill): Committee and Remaining Stages

 

2:00 am

Photo of Jimmy HarteJimmy Harte (Labour)

I agree with the Minister on the VAT increase. In the Border county of Donegal, Letterkenny had a decent Christmas because of the currency fluctuation. A few businesspeople stated initially they did not like the VAT increase but their major concern is the exchange rate. It has been a feature of cross-Border trade since before I was born and people have dealt with it. The Sinn Féin alternatives are not alternatives. A 1% wealth tax based on the French system, which I have researched, would mean one would be taxed on one’s assets throughout the world. A young guy who wants to return to Donegal from New York or Australia where he has a business would be taxed on his assets in Ireland and-----

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