Pádraig Mac Lochlainn (Sinn Fein) | Oireachtas source

I did not protest the issue of the first amendment because we are revisiting the issue now.

It is desirable to incentivise and encourage innovation. Today, there was a presentation in the Oireachtas on innovation hubs in different parts of Ireland. The problem is when reduced corporation tax and responsibility is introduced. We have seen where this has, unfortunately, been abused in the past with loopholes emerging. The taxpayer and the citizen want to see the maximum level of accountability on this matter.

Coming from the regions, the Minister of State will appreciate that balanced regional development is a significant issue for people from there. When significant tax incentives are given to companies, we must ensure the benefits and job creation are spread geographically across the State. In fairness, the Government’s amendments show it has listened to the concerns expressed on Committee Stage and has attempted to address the issues raised.

The wording, however, in amendment No. 4 is too vague. It states, “The KDB report shall include statistical information in a form, and regarding such matters, as the Minister may direct.” On the last day we debated this, the Minister stated the Government did not want to give away some of the sensitive commercial information about some of the companies applying. Accordingly, one might not want to give a specific address, for example. However, if one used one’s imagination, there is a way of identifying how this incentive benefits the region without giving away sensitive commercial information. It has not happened.

Our core concern has not been addressed and I cannot support the amendment. It is too vague and will not give us the information we require. If the Minister of State indicates he would be willing to address this issue in the Dáil to ensure statistical information is provided which clearly demonstrates how this incentive will be availed of across the regions, we could look at that measure. However, if no such guarantee is made, unfortunately, we cannot support this amendment.