Dr. Adele Bergin:

I thank the Deputy for his question. I understand him now. A detailed analysis in the report goes through the over-reliance on corporation tax and how it poses a risk to funding our spending, given that it is volatile and highly concentrated. There is a risk of a sudden reversal. We have argued that, if there are excess corporation tax receipts, they should be kept aside and not used to fund current spending, thereby reducing the reliance over time. The Deputy is right in the sense that a sudden reversal in corporation tax receipts means that other taxes will have to increase or spending may have to decrease.

Mr. Barnes answered the Deputy's question on a wealth tax. We make an assessment of what would have to be done overall without prescribing taxes.