Tommy Broughan (Dublin Bay North, Independent)
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I want to go back to the cost of the CGT change and the witness spoke of the €25 million per point deduction of the rate. Would the Irish Tax Institute favour going back to the Charlie McCreevy era? While the witness talks of just a couple of points, it is a significant tax. In my submission to the Minister last year, I suggested that it should actually be increased to 38% to give us an additional €178 million. One could argue that it is a very important element of tax and that we should perhaps leave it alone. The Scandinavian countries, all of which have very dynamic economies, are all clustered around our rate.