Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)

There is a lot more than €75 billion being invested abroad by Irish pension and investment funds. However, whatever the figure, it is unpatriotic at a time of crisis. We must find a system to encourage Irish money to be invested in Ireland rather than being invested in Germany or elsewhere. If such moneys are not invested in this country we must find a way to impose a levy so the Irish people can obtain a benefit from such moneys. Levies have been imposed on Irish taxpayers and this would be another method of levying moneys which are floating outside this economy. This is Irish money which needs to be invested in Ireland.

The Minister asked for proposals and I made this proposal before Christmas.

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