Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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We supported the VAT increase. We proposed measures like increasing employer's PRSI, financial transaction taxes and wealth taxes, which would have generated the necessary revenue. Is the IFAC not correct when it says that the Minister is not acknowledging the real costs that will be incurred and the expenditures that he will have to make? To plug the gap, he is using unsustainable corporate tax revenues when he should be contemplating other areas of taxation like those I have mentioned, closing corporate tax loopholes and so on.