asked the Minister for Finance the basis for his estimate that the tax yield from existing mines over a period of twenty years would amount to £125 million; and whether the tax yield from the known mineral deposits in the Navan area have been included in calculating his estimate.
Ceisteanna — Questions. Oral Answers. - Mine Tax Yield.
34.
Mr. Kenny
The estimate of £125 million is based on estimates of the future profits of the mining industry as calculated by the Interdepartmental Committee to review mining fiscal policy. The estimates took into account the amount of known mineral deposits including those in the Navan area.
May I ask the Parliamentary Secretary whether he is aware that the Minister gave this figure of £125 million — and got fairly widespread headlines for it—as the figure relating to the tax from existing mines, and that it now transpires from the Parliamentary Secretary's reply that it relates to existing mines plus the scheduled mineral deposit in Navan——
Mr. Kenny
That is right.
——and that the Minister's reply, although given in reply to repeated questions, was, to say the least, misleading, and is now proved by the Parliamentary Secretary to be untrue?
Mr. Kenny
Whether the Minister gave misleading information or not, this is the information I have at my disposal here, and I am giving it to the Deputy.
I appreciate that the Parliamentary Secretary has given the correct information. I am asking him if he is aware that the Minister repeatedly gave false information in this matter in the debate on the Bill in question.
Mr. Kenny
I am not so aware.
The Parliamentary Secretary should be.