Minister Donohoe, speaking at the EU Economic and Financial Affairs Council in Brussels, emphasized his opposition to reintroducing tax breaks that have previously harmed Ireland's economy, specifically mentioning section 23 reliefs. His viewpoint contrasts with his coalition partners in government, who suggest exploring such tax incentives to attract private investment. Donohoe argues for stable policy frameworks and alternative strategies to stimulate housing supply, asserting that costly tax reliefs are not the solution for improving the delivery of homes in Ireland.
What I'm not going to do is reintroduce or propose the very tax reliefs that did such harm to our economy, and then the building of homes for many years, in Ireland.
We have already identified [how they] proved to be very, very costly, and we've already acknowledged that it's very difficult to identify how they can be targeted.
We need instead to be delivering policy stability, and we need to have a stable tax and policy framework within which those who are building more homes can operate.
I don't believe those policies are the ways in which we will make progress in the delivery of more homes.
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