Alice-Mary Higgins (Independent) | Oireachtas source

I thank the Minister of State. It is interesting because I had a different reply when I inquired about the €10 million previously. I appreciate that the Minister of State has clarified that €10 million is the estimated total cost, including tax forgone. I would appreciate if the Minister of State could indicate that this is very different from, for example, the estimate put forward by IBEC of €80 million, which it anticipated as the cost in its 2018 submissions calling for a scheme that was pretty much identical to the one being put forward here. Can the Minister of State comment on from where that estimate came, particularly as it is quite different from the €10 million?

If it emerges that the scheme is costing significantly more in tax forgone, will it be reviewed? If so, at what threshold will that be regarded as a problem? Will it be where it is costing €20 million or €30 million, for example? Can the Minister of State give an indication of the point at which we will undertake to monitor the scheme and consider its impact? This is to ensure that we track it because in the past we have put forward tax incentives - such as capital gains tax waivers - that have had very negative consequences down the line. While I appreciate that it will be followed, I would like the Minister of State to indicate that he is willing to provide feedback on how the scheme is operating in a year's time and to set out whether the figures are matching the projected estimates.

In that context, I will probably not press the recommendation. However, I will still oppose the section because there has not been enough public consideration and debate in respect of its provisions. I ask the Minister of State to address my specific concerns so that when we come back, we do not have the same conversation and know what we are working with.