Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

At this point I will signal Report Stage amendments overall, if I may. To date, we have signalled an amendment relating to sections 11,15 and 60. Earlier today I noted a Report Stage amendment when speaking to amendments 158 and 159. I also want to signal the possibility for an amendment relating to section 44.

On the matter raised by the Deputy, the issue of wealth taxes has been long debated within this committee. Given the mobility of wealth within an open economy like Ireland, and also given how much wealth is absorbed in property here, which is taxed, I believe that the role a wealth tax could play in Ireland is completely overstated. It would not be beneficial at all. Leaving aside my view on the matter, and as I have said we already tax wealth very effectively through, for example, the local property tax, the main reason it would not be beneficial is that reports were done on this in 2016 and in 2018. The latest report that is available to us is less than two years old, so I do not believe a further report is merited on top.