Oireachtas Joint and Select Committees

Thursday, 8 November 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Pre-Budget Submissions: Discussion with Civic Society Representatives and Focus Groups

1:10 pm

Photo of Mary Lou McDonaldMary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

I can see where the group comes from, theoretically, in terms of a site valuation tax but in the real world and real time terms, I could not disagree more with the proposal. Fr. Healy gave the Custom House and Dublin 1 as an example and talked about all of the infrastructure. First, we must bear in mind that most of the high concentrations of poverty are also found in inner city areas and that is precisely why taxpayer investment and infrastructure was made. Second, I shall reiterate the point made by Deputy Higgins. We are not dealing with perfect equilibrium because people are up to their tonsils in debt and they were fleeced. They are now in negative equity and can only afford to pay interest only mortgages at present. That problem will not go away anytime soon.

I was surprised by how the group dealt with a wealth tax. Why was it not more expansive in how it defined wealth? There are more assets than the family home. Can I ask each of the delegations to identify what it thinks is the most important matter for the forthcoming budget when it comes to dealing with two categories of citizens, the children and the working poor.

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