Peter Mathews (Dublin South, Fine Gael) | Oireachtas source

Every budget should have a fairness index which is properly constructed and which deals with incomes and realised capital gains. This should be worked out from first principles with fairness written all over it. At the moment it is all over the place. The books on each Finance Act are getting thicker and thicker. The tax return known as form 11 is now 23 pages long. People are paralysed with the work of just putting bread and butter on the table. We need to snap out of this trance at every level, high and low. As Deputy Boyd Barrett said with regard to the fairness index, as one goes above €120,000, there should be an increasing contribution.

I remember that in the 1970s surtax went to more than 70% in this country and more than 90% in Britain. The economy at that time was not on its knees. It was post-1960s and there was inflation and growth. We really have to think it out and we need to be brave and courageous about it. It is a question of income, capital and wealth. When people are in negative equity and they have no incomes - or else incomes that are fully absorbed in putting bread and butter on the table - we have a problem.