Seanad debates

Wednesday, 7 December 2016

Finance Bill 2016: Committee Stage

 

10:30 am

Photo of Paul GavanPaul Gavan (Sinn Fein) | Oireachtas source

Just as we discussed with the help-to-buy scheme, evidence appears to be best ignored in the view of the Minister. The Revenue Commissioners tell us that in 2014, 302 people availed of €5.9 million in tax relief under the special assignee relief programme, SARP. That is an average of almost €20,000 in tax that 302 people, who already are very well paid, did not pay because of this scheme. The only figures we have on job creation or retention are from the Department's report in 2014. It states that of the 12 people who availed of the scheme in 2013, only five jobs were created and six jobs were retained. The same report stated that there was also a lack of measurable evidence that the scheme had resulted in an increase in foreign direct investment, FDI, or the roll-out of new projects. It further stated that under the scheme it is not mandatory to create jobs to qualify for the SARP. The facts do not support this scheme. Unfortunately, it is another classic ruse whereby Fine Gael hands out tax subsidies to its wealthy friends.

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