Mattie McGrath criticises banks, BIK and windfall tax delay
Mattie McGrath spoke in the Dáil on 21 March 2023, addressing taxation measures, bank conduct and energy policy. He welcomed agricultural reliefs and the continuation of the 9.5% VAT but strongly criticised benefit-in-kind changes, banks and delays to a proposed windfall tax.
Agriculture and VAT reliefs
He welcomed the extension of reliefs for agriculture and the retention of the 9.5% VAT rate. He warned against a one-size-fits-all approach and called for action against firms he accused of price gouging.
Benefit-in-kind and electric cars
McGrath described the BIK changes as a "nutter disgrace" and said he had sought a review at the Finance Committee. He argued businesses are on their knees and cannot be forced to buy fleets of electric company cars when charging infrastructure is lacking and some journeys would take far longer.
Windfall tax and corporate behaviour
He criticised delays to introducing a windfall tax, noting it had been discussed for September and expressing hope it might be introduced before the end of summer. He said estimates put possible receipts at "£400 to £700 million" and accused large companies of profiteering that had not been tackled.
Banks, vulture funds and political consequences
McGrath condemned banks and vulture funds for what he called gouging of citizens and businesses, citing faceless loan sales, the disappearance of local bank managers and bonuses returned to bank executives. He linked these issues to eviction legislation and accused political leaders of posturing, calling for an election so voters can decide who should govern.
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Good morning, Myra, Mr. Minister I am delighted to be here to speak, I do not suspect your good self and Tara Stuart but what I am sure I have been talking about? Minister, I welcome the extension of the reliefs that are there for agriculture, certainly. I also welcome the continuation of the 9.5% Vat. But I think you will have to be more selective in the future and the people that did do price gouging and ripped off people and intend to rip them again, some of the city, most of them confided in the city, they should be dealt with. this. We can't have a one-size-fits-all. Minister, the BIK is a nutter disgrace, what you did there. I raised this at the Finance Committee with Minister I don't know about the time, and he treated me with total disdain. All I wanted was a review of it, because the amount of people that are out there, and you expect to force people, businesses especially, to buy fleets of company cares. Businesses are on their knees. They're below their knees, in case you didn't know. And how are they going to force to buy just to suit your fantasy projects a fleet of electric cars? And many parts of the country, the business implies they'll be stuck on the road for an hour, because there's no place to charge them. The infrastructure isn't there. So, when are you going to realise that? I don't know. Minister, also, the windfall tax on the big companies. Where's the inertia? When the Finance Committee came in, the budget announced midnight, cigarettes, and the usual suspects were up at midnight that night. Well, here now, you're talking about September. Hopefully, it might be introduced as I said before the end of the summer, windfall tax, and it's only going to be £400 to £700 million. The gouging that has gone on by the big companies, that have you the kibosher, you have you in their pockets, literally, and you won't tackle them. And it's happening across the economy here. Why you won't deal with that, I don't know, and you're in issue and inability. Also, as I said, the benefit in kind, I've mentioned that. Minister, the banks. The banks that we bailed out, not we. I vote, that's the biggest mistake ever made. Not to bail out, because I called it a clean-out, but I voted to protect the banks on that fatal night. It's a bigger fool I was. But the gouging now, and the baguering, that our main banks and the vulture funds are giving out citizens, is nothing short of a disgrace. And the minister from finance, the minister of noon, didn't want to know about it at the time. And the successor ministers didn't want to know about it. It's just this sickening, despicable, outrageous behaviour to where they can buy people's loans, send them off, how businesses that I know now are dealing with had bank managers, they don't even have a bank manager anymore. Faceless entities. I'm not talking about the staff, hardworking staff that works in banks, and can't say tellers, because they're not tellers anymore. But work, there are ordinary people. And the obscene increases that made it the last desperate act that their friend did, Minister Donovan, left office as finance minister, to give them back their bonuses. They needed it, didn't they? The million and a half euro. My God, what kind of an island have we here? And then we have facing the eviction bill and the shenanigans and the game chief going on here as well. And actually, in fact, I think it's really political posturing. But as soon as you get up, pack up your bags, get off with your bedfellas, go into the hill somewhere, call an election, and let people that want to govern this country, let people that want to represent their constitutional status, represent the people that are elected to in this house here, not looking after the REITs, the banks, the big conglomerates and all those boulder funds. That's wrong. It's rotten. Gourmanggourg. Gourmanggourg. Gourmanggourg.
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