Vol. 86 No. 12
I move:—
(1) That a stamp duty of one pound shall be charged and paid on every banker's licence.
(2) That in this Resolution the expression "banker's licence" means a licence to carry on banking business issued by the Revenue Commissioners under an Act passed or to be passed by the Oireachtas in the financial year beginning on the 1st day of April, 1942.
On Resolution No. 5, I do not know who was responsible for the idea contained in this, but I think that such a humane person ought to be turned in another direction on loan to the Minister for Supplies for a while, because if you are an unfortunate fellow with a small shop in which you sell tea you have to pay 10/- for a licence; if you sell bread soda, you have to pay another 5/- for a licence, and if you sell boot laces you have to pay another 7/6, and so on. I should like to hear, when we are discussing these Resolutions on the Finance Bill, what an ordinary country grocer or provision merchant has to pay in the way of stamp duties for licences to carry on his business.
They know well how to get it back.
Oh, I see; and the bankers do not?
The depositors have to pay.
But they do not lose any money on that. Do not they get the interest?
Yes.
If I had £10,000 invested I would not care whether it was the Minister for Finance or some bank that was holding it if the income from that £10,000 was coming in to me.
Thanks for the compliment, but would the Deputy not prefer to hold it himself to invest it wherever he liked?
Yes, but in this case they are not dependent on that £10,000. However, I make that suggestion to the Minister.
Would the Minister say what is the idea of imposing this particular stamp duty?
We have a register of bankers.
What is the meaning of the low rate?
I do not object to the low rate; I think it is a most humane idea.
How much does the Minister expect to derive from this duty?
Not much.
Will he not say how much?
We will wait and see.
This is a Financial Resolution that the Minister has put before the House in connection with the Budget, and I think the House is entitled to be told what factors were operating in the Minister's mind when he decided to impose this stamp duty, and what amount he thought might reasonably be expected from it. The House is entitled to an answer on that question.
It would not be worth the paper.
The present Minister for Finance is not likely to make as many muddles as the ex-Minister for Finance, who is now Minister for Local Government. The Minister for Local Government, apparently, forgets for a moment that he is in Dáil Éireann and not in front of the mirror that we are told he is so fond of. Perhaps we might get from the Minister for Finance the information that we want?
Is the Deputy sure that he needs it very badly?
Yes.
It will probably be less than £10.
Why not say that you are expecting £9?
We might get more.
