Paul Bradford (Fine Gael) | Oireachtas source

The banks made their position known on Monday of this week. I wish to put on the record my concern at this type of thinking and the view that prioritising one sector will solve our housing problems because it will not do so. Indeed, it may well cause us to drift back to the sort of thinking which saw housing not as a means to a social end but as a means for a small number of developers and others involved in property to get very wealthy and to do so on the back of home owners. While this may not be entirely pertinent to the Bill under discussion, it is relevant in the context of the financial position of the country.

During the Committee Stage debate I intend to make a contribution on the ending of mortgage interest relief. Admittedly, the Government must find money from somewhere and if it wants to pay Peter, it must rob Paul. However, the ending of that relief will cause a lot of difficulties for people on the housing ladder. We should at least try to look at other options and alternatives in that regard.

One sector of the economy which the budget has attempted to support on a continuous basis is the agricultural sector and I welcome the changes in the Bill in that regard. We are all aware that while the general economy has been in free fall for the past number of years, investment has continued by the agricultural community in rural Ireland. Agricultural production has been enhanced and a lot of work has been done across the various branches of agriculture. Our exports have grown and new jobs have been created, which is very welcome. The Horizon 2020 plan and the changes to EU support mechanisms with the ending of milk quotas means that more jobs can be created in that sector in the future. I welcome the helpful provisions in the Finance (No. 2) Bill in this regard.

The priority of the Taoiseach, the Government and everyone in these Houses is job creation and getting people back to work. The Minister for Social Protection has introduced a number of interesting mechanisms which are working.

I am sure it is the focus of every Department, particularly for the Minister for Finance, to ensure our tax and jobs support system is geared towards investment and job creation. I agree with Senator Michael D’Arcy that we are at our maximum tax take and no more can be squeezed from the taxpayer. Those who present these simple formulae about wealth tax, super tax and hidden taxes should look at examples from around the world where these were introduced. They will see this type of economics was quickly ended because it did not work. We all favour fair taxes. We must ensure corporation or PAYE tax is paid in full and that shelters, as well as other avoidance measures, are tackled. I will go into these matters further on Committee Stage.

I generally welcome the Finance Bill. It is part of putting Ireland back to work, as well as restoring our financial sovereignty and independence. Like every Bill from every Government, I am sure there are ways it can be improved, however.