Seanad debates

Wednesday, 5 December 2012

3:00 pm

Photo of Brian HayesBrian Hayes (Dublin South West, Fine Gael) | Oireachtas source

That is what we want to achieve, but it will take time to secure investment from them. We live in a highly globalised society and money flows in and out as quickly as one looks at it. No one will invest in the country as long as the sovereign is risky. During the past 12 months people overseas could see Ireland was solving its problems and getting to grips with the public finances. The great advantage is that we can get money to flow into the country.

I accept the criticisms of members. This is a difficult budget, but we have done everything in our power to make it fair, with increases in capital taxation. It is only right and proper that PRSI is being extended to unearned income such as rental income. Some people have very substantial properties and should pay more. People over 70 years who have substantial income should pay a little more in the universal social charge. I very much agree with the point made by Senator Aideen Hayden on the transfer from medical cards to GP only cards for a group who have in excess of ยค60,000 a year on which to live. It is a fair measure. When I made this point three months ago, I was attacked left, right and centre. It is only fair for intergenerational equity that a group who are really struggling, those in their 30s and 40s and out of their mind with worry about debt obtain some relief. This requires that the burden be spread in the fairest way possible. Will we make mistakes? Of course, we will. We will not get everything right in the budget and need to make changes in the fairest way possible to get the country working. The number one priority, as many Senators have reflected, is to create jobs. We must get the domestic economy working again. Exports are flying. I attended an exports conference last week - - - -

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