Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

There is a proposal from the community platform. We agree with much of what is in here but I will focus in particular on the wealth tax. As the witnesses may know, I will publish on behalf of Sinn Féin a comprehensive piece of legislation looking to reintroduce a wealth tax in the State. We have considered different models and proposals, and we are very conscious of the proposal from the community platform. Every different wealth tax operates at a different level, and the witnesses suggest yet another one. It was mentioned that Spain will shortly introduce a wealth tax but it has already been introduced. Many people have argued that countries are abandoning the wealth tax, which is not the reality, as Spain and Iceland have introduced wealth taxes. The opposition SPD and Green parties in Germany have prepared legislation on a wealth tax and have committed to introducing it if they gain power next year. The Liberal Democrats in Britain have also committed to a wealth tax, so we hope Ireland will follow suit.

It was mentioned that such a tax would only affect income earners above €100,000, which can be a major difficulty because it could spur mass tax avoidance. Have the witnesses considered that element? People with significant net wealth drawing income from their own company can reduce it to avoid tax. Will the witnesses expand on their proposal, particularly why they have set such a level? I understand the ideas behind it but we are currently considering other methods.

The witnesses recommend the standardisation of all tax reliefs but will they elaborate on that, particularly the impact this would have on lower and middle income earners? The final issue is relevant to all the witnesses. What impact did last year's budget have on the sectors they represent?