Seanad debates

Monday, 12 July 2021

Finance (Covid-19 and Miscellaneous Provisions) Bill 2021: Second Stage

 

9:30 am

Photo of Pat CaseyPat Casey (Fianna Fail) | Oireachtas source

Little did we know in March 2020 that we would still be dealing with a pandemic in July 2021. It must be acknowledged that, without the support of the Government, most businesses would have collapsed. We must also acknowledge how the Government reacted when it came across things that were not working out or did not quite fit specific sectors. It rearranged supports to suit them. I would not be in business today without the support. The employment wage subsidy scheme has been a godsend to the industry, and the Covid restrictions support scheme has been vital for us in staying afloat.

This Bill is introducing another support for businesses that were left out of the loop. It shows that the Government is willing to listen and determine how it can support business. The business resumption support scheme is new, and that has to be recognised.

The VAT reduction for my industry has been vital. I have always said openly, including here, that this was all about trying to get the margin to a level that allowed businesses to pay their bills. The reduction of 4.5% is critical in this regard.

I would like to see the warehousing scheme tweaked a little further. The Minister of State cannot extend it until 2023 or 2024. Warehousing is a great concept and the scheme is great. It is a winner for everybody. It does not cost the State any money but provides a huge amount of working capital credit and cash liquidity for businesses on the ground. I recognise the amendments that have been made regarding the scheme.

It would be remiss of me not to focus on section 15, which has already been referred to and which is the sole section the Opposition has jumped on for the past week. It covers the 10% stamp duty rebate on long-term leasing. It must be acknowledged that the Government acknowledges this is not the best way to do business but it is a way of dealing with housing and delivering homes in the short term. While we try to turn the vehicle in a different direction, it is delivering homes. It is delivering homes today. Members of the Opposition, when on the radio, keep mentioning vulture funds, cuckoo funds and investment funds but never say where the houses are going. They never talk about the people who are getting them. They never say the houses are for social housing. They are for people with complex needs, including people who have been on the social housing list for seven, eight, nine or ten years. I wonder whether the very same politicians would not send out a letter congratulating an applicant on getting a house under the scheme. Would they recommend that the applicant not accept a house under the scheme because of the 10% stamp duty rebate? Would they advise the applicant not to take the house because they do not agree with the scheme? We will not hear them saying that because they will not say it. They will send out a letter saying they are glad to assist the applicant in securing a 25-year lease on a home. They will not mention the stamp duty refund.

This comes with a little frustration over what happened in Wicklow last week. With all due respect to Senator Gavan, I am not referring to him directly, but his party has to be called out on its hypocrisy. Wicklow has 4,500 families on the housing list. Bray, whose land is so scarce, proposed a scheme for social housing on public land but the Sinn Féin councillors decided they did not want that. The party's members have to stop talking from both sides of their mouths. If Sinn Féin is not supportive of this scheme, it should not send out a letter saying it is glad to have worked on an applicant's behalf and delighted to have secured him or her a home. Rather, it should say the home should be returned to the State because there is a 10% tax rebate. The hypocrisy of the Opposition needs to be called out at this stage.

Most of the points have been raised. As a businessperson who has employed many people and who has been able to keep many of them in employment because of the EWSS, I thank the Minister of State. I thank him for his continuous, active response to circumstances on the ground and his support.

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