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

I just want to make a point to the Minister on collecting the data. In responding to the suggestion we collect data on wealth I must re-emphasise that we are focusing, in particular, on those at the very top, not the ordinary person who has a house. I refer to those with multiple properties and vast financial and other assets. They are the people at whom we are trying to get. The Minister says he or people might balk at collecting data for each individual, but that happens all the time in the case of the ordinary citizen. If the poor apply for a social welfare payment, they are means-tested forensically on their income and assets before receiving it. The Minister has the information on property through the property tax system. He has gathered it.

The second home tax was progressive. It was levied on properties one had, in addition to the family home. We could reinstate and increase that tax and consider the property assets in question and their concentration. It would be interesting to see who owned multiple properties and ascertain what tiny group of investors and property owners owned multiple properties. We would find there was a heavy concentration in this area. We should direct taxes at those who are generating considerable revenue and have an appreciating asset because of concentrated ownership of large amounts of property. There is nothing to stop the Government from gathering information that would allow us to have a wealth tax targeted not at family homes but at the very wealthy, or those who have many financial and property assets above and beyond the family home.