Seanad debates

Wednesday, 12 April 2017

Companies (Accounting) Bill 2016: Committee Stage

 

10:30 am

Photo of Aidan DavittAidan Davitt (Fianna Fail) | Oireachtas source

I am sorry we have to disagree with the Minister today. I know she has done a lot of work on this Bill and it is quite technical legislation, but according to IDA Ireland, some 25,000 people are directly employed in the pharma industry and another 25,000 people indirectly employed. The pharma sector provides highly skilled, quality jobs. Around two thirds of the people working in the sector possess a third level qualification. The latest provision, which the Minister has added in section 3, would have such a disproportionate impact with thousands of filings required and an increased compliance on the industry, we do not feel this is prudent at this stage. It is not today nor yesterday that we flagged this issue. It had been discussed before, possibly on Committee Stage. I know the Minister is aware of it and is making inroads and I appreciate the work she is doing in regard to it but we are going to press the matter.

Comments

No comments

Log in or join to post a public comment.