Alice-Mary Higgins (Independent) | Oireachtas source

I move recommendation No. 2:

In page 16, between lines 6 and 7, to insert the following:

"Report on key employee engagement programme

12.Within 3 months of the passing of this Act, the Minister shall produce a report on the implementation of the key employee engagement programme, to include a breakdown of the cost of the scheme and revenue forgone in 2018 and 2019.".

Recommendation No. 2 relates to the cost of the key employee engagement programme. We know 87 persons benefited. This recommendation involves how much the scheme costs. We knew that it cost €10 million to set up. We have spent €10 million on it for starters and as 87 people have benefited, that is quite a substantial benefit for a very small number of people so far. The Minister of State says shares may be held and the tax may be taken at a later stage so I might withdraw the recommendation and bring it back on Report Stage to revise and specifically address the income tax foregone. While the Minister of State will rightly make the point that some taxation may be taken from the scheme at a later stage in respect of taxation on shares - we do not know if that will be later - I will believe it will also be less. The clarity we need concerns the scheme in 2018 and 2019. What portion of income tax revenue was foregone in those years? Given that my wording is wider, I will withdraw the recommendation and re-introduce it on Report Stage focusing on income tax foregone and tax expenditure in 2018 and 2019.