Dr. Sheila Killian:

This is exactly why we need the conversation. There are different forms of capital. There is capital that is used to create, generate or facilitate employment in real industry and there is capital that is used to take day trips into space. We have seen both of those happening in recent years.

The concerns of Deputies Durkan and Healy-Rae around productive capital are very important. I am glad Deputy Healy-Rae brought up the shoe industry. Looking at the whole fast fashion industry, it is deeply unsustainable and driven by inequality. If there was some form of equalising wealth tax at perhaps an EU level, we would see much of that inequality and drive towards cheaper production being moderated. It would be better for the overall level of employment and sustainable production within the country and the EU.

These divergent views, which are expressed well and forthrightly, show the value of a structured conversation in the form of a citizens’ assembly. Get all of these views on the table and design a tax that is appropriate for us.