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

The representatives of both organisations are very welcome to the meeting. I welcome the presentations they have made. The main issue is not the individual proposals but the fact that there are options. Despite the fact that both organisations are looking at the same type of macroeconomic analysis, a number of proposals have been brought forward and what the committee and the public need to hear is that there are always options.

To delve into the detail - I might return to this later - the focus of Social Justice Ireland is on taxation measures. The €600 million carryover is included; I think its figure is just above this sum. However, there is no carryover in its accounts on the expenditure side and the Government estimates the figure to be approximately €360 million. TASC has included the figure for the expenditure carryover. How realistic does it believe that carryover figure will be, given the overspend on health services and the possibility - there is talk about this in the media - that we might need a Supplementary Estimate for that Department?

I commend both organisations for pointing to the need for a stimulus package. This is something that has been missing in the debates, although both organisations have put this forward in the past. We must focus on it and see more Government consumption to get people back to work to help lift the economy.

With regard to the wealth tax proposal from TASC, the organisation will be aware that I have drafted legislation on a different wealth tax proposal. It involves a 1% rate. Some think all wealth tax proposals must be the same. Like income tax, one can raise them to different rates. TASC states the €150 million yield from its wealth tax proposal, a figure of 0.4%, is likely to be conservative. Will its representatives discuss these figures?

The last issue I wish to raise is the matter of pensions. Both organisations have dealt with this issue and it is one Sinn Féin has raised time and again. Approximately one fifth of the adjustments required this year can come from the standardisation of pension reliefs. Social Justice Ireland points to the analysis carried out which shows that 80% of the reliefs go to high earners. I support the proposal brought forward by both organisations, but what impact would this have for those who are saving for their pensions in the future?

I am playing devil's advocate here. We know there is a pensions time-bomb and in that context, how can the delegation justify standardising pension tax reliefs at this point in time?

Again, I commend the delegation. I will support many of the proposals put forward, which will be included in our pre-budget document to be published soon. Some proposals, however, my party will not support. In particular, I am concerned about the proposed nutrition tax and how that could impact on lower-income groups in society. I am also concerned that the focus is on increasing excise duty on alcohol rather than tackling below-cost selling. I ask the delegation, time permitting, to deal with that issue.