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

I thank Dr. McDonnell of the Nevin Economic Research Institute. I welcome the focus on increased investment in child care, education, research and development and infrastructure. I welcome the general thrust of what Dr. McDonnell has said. He said that there is a case for more taxes. Could he be more specific about what he is proposing? Would he agree that the amount of fiscal space is miserable, compared to the requirement for investment in the areas he has identified, including housing, child care, research and development and education? What would he propose in that regard?

I take Dr. McDonnell's point about the tax wedge being lower than average. I think we have always had a difference of opinion about property taxes. How would he respond to the popular perception that while our direct labour taxes might be somewhat lower - I believe Dr. McDonnell when he makes that argument - we have a whole range of hidden regressive charges and taxes? I could go through the list of such taxes, including VAT on the consumption of goods, parking charges, high bus fares and the cost of rent. Many people believe property tax is a regressive charge because it does not take income into account. Does Dr. McDonnell accept that people are right to resist things like property tax? Does he agree that there are fairer ways of going after wealth, such as taxes on landlords who have multiple properties, financial transaction taxes, wealth taxes and taxes on people's highest earnings?

I ask Dr. McDonnell to comment on Jeremy Corbyn's approach to tax, which is very popular. It is old-school, left-wing politics. It involves increasing taxes on the richest 5% only. It has received massive traction. It comes from a left-of-centre perspective. Does Dr. McDonnell agree that the left and the trade union movement should be arguing in favour of this kind of approach?