Finian McGrath (Dublin North Central, Independent)

On the broader issue of the economy, we must accept that the country faces a major crisis. In recent days, the term "economic treason" has been used. I share this view of recent actions in the financial services sector, specifically the banking industry. It is all very well to be critical but rather than calling for heads — this issue can be addressed on another day — I am interested in finding solutions to help the vast majority of the population. I call for economic patriotism.

I welcome the events of yesterday when the Garda entered Anglo Irish Bank, although I would favour taking a stronger line and calling in the Criminal Assets Bureau to deal with the issue. I hope the necessary process of cleaning up the banks has started.

We need to rebuild the economy. Members of the public are demanding that we do not play party politics. By international standards, income tax revenue remains low in Ireland. Increasing the standard rate of income tax to 22% and the top rate to 45% would raise €2 billion per annum. While they may not be sufficient to address our current problems, such increases should be considered.

We should focus on higher incomes and take a tough and fair approach to raising taxes. To this end, the Minister should consider taxing second houses, which I would not describe as second homes.

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