I move amendment No. 91:
In page 111, subsection (1), line 26, to delete "75 per cent." and substitute "100 per cent.".
The purpose of this amendment is the same as that of the previous one, that is, to have a debate about capital acquisitions tax, and we have had that debate. The effect of my amendment would be to reduce the figure to zero.
We have had that debate already.
To quantify the benefit, if there had been no change since 1993 and — dare I say it — if Deputy Ahern was still Minister for Finance, three children inheriting a business worth £2.2 million, who today would pay no tax liability now, would have to pay £600,000. That is what we have done. If a person won that sum with a lottery ticket, it sounds like a big sum of money, but it is not; such a figure would relate to a regular size business in many country towns.
It would put people out of their practices. It may not necessarily be in cash. In fact, it almost certainly is not in cash.
Nobody has that kind of money in cash assets and that is why it was done. That is the extent of the relief — three children.
