asked the Minister for Finance whether he has examined the Confederation of Irish Industry's Budget submission; and whether he accepts that taxation policies are increasing the likelihood of the takeover of Irish industry by foreign firms.
Ceisteanna—Questions. Oral Answers. - Budget Submissions.
30.
I have examined the Budget submission referred to by the Deputy and I do not accept the confederation's suggestion that taxation policies are increasing the likelihood of the takeover of Irish industry by foreign firms.
Question No. 31.
(Cavan): The Minister should not go hunting on Budget day.
I did not hear the Minister's reply to Question No. 30. Would the Minister please repeat it.
I have called Question No. 31.
Deputy O'Leary has asked me to repeat the reply to Question No. 30. With your permission, Sir, I will repeat it:
I have examined the Budget submission referred to by the Deputy and I do not accept the confederation's suggestion that taxation policies are increasing the likelihood of the takeover of Irish industry by foreign firms.
Does the Minister see any substance in the confederation's point that there is a case for alarm because there certainly is an increase in the takeover of Irish firms? The taxation policy of the Government appears to be a contributory factor to this situation.
There is no evidence whatever to suggest that there has been any increase in takeovers as a result of taxation policy.
Does the Minister accept that the viability of many firms is threatened by this? It certainly places a serious burden on firms at the present time and on employment as a result.
I would not accept that, but I am touched to note Deputy O'Leary's concern.
Those takeovers are bound to happen.