Dr. Sheila Killian:

I am conscious of time. The technical aspects of this are best worked out in a cultural context subject to, as Mr. Murtagh said, this being an inclusive tax that covers all asset classes and does not give opportunity to evade and create evasion opportunities. It is important. There are serious technical challenges arising from the general opacity of our financial system. The opacity of our tax system and where wealth lies and does not lie is symptomatic of that. It would be a step towards greater transparency that would allow the Irish Government and other Governments within the EU to more effectively manage risk within their jurisdictions, if they can see who owns what.

If there is a decent asset register, they will be able to see who owns what. We really should know who is investing, particularly in sensitive assets such as housing, as referred to by Deputy Healy-Rae. We should know who is investing in this critical infrastructure in our country. It is basic information to add to the conversation.