Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

Even when these allowances are given initially they tend to disappear. That has been the experience.

There is a big danger of opening the door to a punitive tax.

I shall ask three or four questions and hope to get one reply from each of the relevant people. A minimum effective corporate tax rate is something that we have championed quite significantly, and figures of 6% and 9% have been put forward. I would like to hear comments and the amounts sought by the witnesses. The rate is a big area of dispute; 6% has been proposed. Judging by my calculations on the basic figures provided by the Revenue Commissioners, out of a total of €70 billion, the generation of €4 billion equates to a rate of 6%. Therefore, a minimum effective rate would not raise revenue unless it is increased to at least 9%, or as high as 12%. What figures were used to calculate a 6% rate?

I am glad every organisation has underlined the importance of housing, but there was signification variation in their submissions on housing. How much do they think the extra investment should be? Social Justice Ireland suggested €250 million to create approximately 2,500 houses, Threshold suggested €1 billion to create 10,000 houses, and Focus Ireland suggested €500 million to create 5,000 houses. I think we need the higher figure just to begin to make a dent in this issue. I would like to hear comments from the groups on the matter.

Some of the housing groups are pushing for REITs, or real estate investment trusts, to increase investment in housing. I fundamentally disagree with a REIT because it would incentivise speculation in property again. It would not incentivise investment in new housing but in the purchase of existing buildings.