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

I thank Mr. Barnes for that because I want us to legitimise the debate about wealth taxes, which has generally been considered to be off the radar to date. It is interesting that countries such as Argentina and others are now beginning to introduce these taxes on the back of the Covid-19 crisis.

I will press Mr. Barnes further on the question of wealth taxes, although I acknowledge there are limits to what he can say. Borrowing entails borrowing from those who have surplus money, at interest, to make up for the lack of money available to finance necessary expenditure in health or capital expenditure, for example. In the case of wealth taxes, instead of borrowing the money at interest from those with a surplus, one takes it from them. From a prudential point of view, does it not provide better value for the State to take the money from those who have a surplus rather than borrow from them at interest?