Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

That is right. Obviously, we broadened the tax base by introducing property tax and eliminating a great many tax breaks particularly in building and construction. One could also argue that we broadened the tax base by charging for scarce resources such as water. The Deputy was saying that because we exempted another 40,000 people from USC in the last budget and because we reduced the two lower rates of USC by a percentage point each, some of the commentariat were saying that it was a narrowing of the tax base and getting us into difficulties again. We do not believe so. We consider that personal taxes are too high and we are going to the electorate on the basis that resources being available will eliminate USC completely.