I do not expect the main vehicle for drawing down this relief to be DACs; I expect that it will be companies involved in the production of games and that they will have a more stable relationship with their employees than would be the case in the film sector. It is not a requirement of this legislation that a DAC be in place to access this relief. I understand that the existence of DACs in the film industry is a legacy of how the sector used to be organised to access tax relief. Whether it will be Speedy Gonzales o…

The Deputies may recall that in 2018, my Department produced a detailed technical note for the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach on the subject of both bank losses and corporation tax losses more generally. This technical note was published online and is still available. The technical note considered in some detail the potential implications of restricting the use of losses carried forward by the introduction of a specific time limit or sunset clause on loss relief for Irish b…

For the Government to include a commitment to compile a report on this topic in the Finance Bill, one of the signature Bills the Oireachtas handles every year, would send out a signal that we are considering doing this, but we are not. While such a move is politically attractive and I understand why many who are looking on could see the initial appeal of something like this, those who are looking on at a claim and a debate like this would ultimately pay a price if we were to go down this route. It is the case, as t…

It is correct that this amendment concerns important issues regarding information on the impact this change in corporate tax will have on the competitiveness of our country and on our national finances. However, this discussion must begin with a recognition of the value these companies bring to our economy and society in the first place. I laud what Deputies Ring and Lahart said when they made a point I have made on many occasions, which is that if we want to improve our public services and create more money to spe…

Data centres play an important role in the retention and attraction of foreign direct investment into our country. The policies his party is putting forward on personal taxation look to increase the marginal tax rate for people who I accept are well paid, but our levels of marginal taxation play a role in ensuring our country can be competitive. They make a contribution to it and the Deputy's party is against any change in those areas. Deputies Ring and Lahart are right to call out the contribution foreign direct i…

Did Deputy Boyd Barrett say he was responsible for the onshoring of intellectual property into Ireland?

And that questioning led to that happening?

That is not what the Deputy said in his earlier contribution. I am glad he clarified it, because if he had said it, though he is a Deputy for whom I have an awful lot of respect, it would be ludicrous to claim that any Opposition Deputy played a role in the onshoring of intellectual property into our country. He said something I will home in on. He said they would stay here. That complacency is the first step in losing what we have. Nobody owes our country a living. Many countries all over the world want the foreig…

To deliver for the housing needs our country has now as well as for the housing needs that will grow into the future, we require the savings of other parts of the world to be invested in building homes in Ireland. That is because, given the size of our economy, the banks we have left, the youth of our population and the homes we will need, we will need savings from elsewhere in order to fund the construction of those homes. Those savings have a choice about where to go. They are not savings we should have any expec…

I never said that.

We are building public housing. The most dangerous concept in politics is that there is no alternative. I would never suggest that. We are building public housing and social housing. That is happening at scale. I was with the Taoiseach earlier today in St. Mary's Mansions on Sean McDermott Street. I saw a wonderful project delivered by Dublin City Council and Clúid. Let us look at what is happening in Dominic Street at the moment. Let us look at the brilliant, wonderful accommodation in Sean Foster Place in my cons…

Yes.

I move amendment No. 21: In page 97, between lines 2 and 3, to insert the following: “Amendment of Schedule 2 to Finance Act 1999 (mineral oil tax) 42 .The Finance Act 1999 is amended with effect as on and from 1 April 2022 by the substitution of the following Schedule for Schedule 2: “SCHEDULE 2 RATES OF MINERAL OIL TAX ".". This amendment provides for a reduction, on a temporary basis, of mineral oil tax to partially offset the expected increase in fuel costs as a result of the proposed increase in the biofuel ob…

The reason I am bringing forward this measure is to contribute to offsetting the impact on the price at the pump that could be caused by the implementation of this biofuel obligation. It is being implemented from 1 April because I am informed by the Minister for Transport that it will take a number of months for the change in the biofuel obligation to pass through into the price at the pump. Deputy Doherty asked at what point the decision was made. It was made last week at Cabinet. I understand a public statement w…

One hand knows exactly what the other hand is doing which is why we are bringing forward this measure. If the change in biofuel was happening and it was not accompanied by the offset that I am putting in place, Sinn Féin would be critical of that. We are putting in place the offset and the Deputy is still critical of it. This is a measure that has the potential to and will affect the price of fuel. I am doing it to try to protect hard-pressed car owners from the effect this change would have on the price at the pum…

If there was ever an example of how, regardless of what you do, Sinn Féin will just have the same response, it is Deputy Doherty's response here. The reason we are doing it from 1 April is that according to the Department of Transport, the reserves that are now in place will need time to pass through the fuel system. The change in the biofuel obligation, while it will happen from 1 January, will not be felt until later in the year. That is why I am doing it. If I was doing it on 1 January, the Deputy would probably…

As I did not have the chance to deal with it on Committee Stage I will deal with the latter point raised by Deputy Tóibín before I deal with Deputy Doherty's amendment. The VAT rating for goods and services is subject to EU VAT law that our law must comply with. In general, the VAT directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless they fall within categories of goods and services specified in the directive in respect of which member states may ap…

For a low- or middle-income earner worried about the cost of living, Sinn Féin's policy is that it does not want to see any changes to personal taxation. That is what it is has stated repeatedly. It does not want to see any changes in how we can change our tax code to support people at a time when prices are going up and inflation is rising.

It is true.

Okay. I will acknowledge the point on rent relief.