Mr. Fergus Finlay:

I did not get a chance to answer a couple of questions that were asked. Senator Hayden asked about a fat tax, for want of a better word. Personally, I would be completely in favour of a tax of that kind and I would love to see it ring-fenced. It is a real challenge to persuade the Department of Finance to ring-fence the proceeds of a tax because the Department officials have traditionally taken the view that we cannot ring-fence the proceeds of any tax, unless it is for the benefit of racehorses and greyhounds. This will be for the benefit of children and obviously they are of a lesser priority.

Deputy Ó Ríordáin asked about the choice between lower taxes and cuts in social welfare. It is a very uncomfortable choice. I am already quite uncomfortable about the fact that we are pitching for children against people who are pitching for those who are homeless. The idea that we can make any kind of equivalence of priorities between people who are disabled, sick or homeless and children who are hungry just strikes me as impossible. However, there is no doubt that a 3% cut in social welfare rates across the country will result in €5 to €6 out of every pension and out of the pockets of every child and unemployed person. It would raise around €600 million and would enable a pretty decent cut in the top rate of tax and I could not imagine a more immoral choice for any government to be thinking about at the moment.