Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Yes, indeed. Everything we do at the moment, we do in the context of Covid-19 and the need to maintain social solidarity in the face of the existential threat we face now and which we have been facing for some time. The guiding principle that has underpinned this is that we are all in it together. People bought into that and have suffered great hardship on the understanding that we would remain in it together against Covid-19.

As the Minister will know, for some time I have been raising the plight of particular sectors that are suffering disproportionately. He referred to some of these groups in answering earlier questions. Their futures, however, remain very unclear. I refer to the 25,000 or so taxi drivers whose livelihoods and industry have been decimated. As long as restrictions persist, or if they become even more severe, they are in deep trouble. The arts, music and live entertainment sectors are also affected. These sectors are important but they have been ignored or dismissed. We realise now more than ever that we need these people. When access to public transport is restricted, we really need the taxi drivers. We will need them afterwards as well. We also need the arts to sustain us through this time and, when we come out the other side, we will need the music and live entertainment people.

Their key demands are for the retention of the income supports and for flexibility to work a bit beyond what is allowed, when work is available to them in this very uncertain period. These are their key demands although they have others. Both these groups have ongoing costs, including insurance and loan repayments. Many of these people are in deep trouble. Will the Minister sustain them so they can pay their bills, rent and mortgage payments and so that their businesses can survive? That is one key question.

Other groups have been affected but these are two that have got themselves organised. I welcome the engagement of the Minister and his Department, particularly with regard to the events sector. I wish he would reconsider his decision not to meet the four groups representing taxi drivers. He should meet them and hear their case. I would also like a breakdown of the other groups that have been hit particularly hard. Does the Minister have a breakdown of those who are getting the pandemic unemployment payment? By definition, everyone getting the payment is in a sector that has been hit. We need to know precisely in what sectors and employments people are getting the PUP. It is a similar situation in respect of the wage subsidy scheme. If the Minister does not have that information now, I would appreciate it if he would provide it later as it would help us understand which sectors really need help.

Connected to that, some sectors have not been hit as hard. Looking at corporate tax returns and some of the income tax returns, they are surprisingly good. This suggests some people are doing well. If we are all in this together, should we consider a solidarity tax on wealth and profits for those people who are not suffering, or in some cases who are doing very well, in order to finance the supports necessary for the people who are hardest hit? That is if we are all in this together. Would it not be a reasonable suggestion?

I have a question on collateralised loan obligations. There was a rather alarming article in The Sunday Business Postabout commercial loans securitised on a very big scale that are floating around the global financial system like the residential securities that plummeted the entire global economy. We could be facing a similar position with commercial loan obligations that are securitised and on the balance sheets of financial institutions with all sorts of potential consequences or a very severe economic crisis if they go bad. We need to know about such matters.

I will comment on the fiscal rules. We opposed them because we thought that positions precisely like this would render them redundant and pointless, or an obstacle to taking the necessary actions. Is it not fair to say now that the fiscal rules are a bit like an umbrella full of holes; when the sun is shining, that might be fine, but when it starts raining it is absolutely useless. We should recognise they were misguided and they have, effectively, been abandoned in the current context.