Mary Coughlan (Donegal South West, Fianna Fail)

None of us would encourage people not to take out life assurance. In the present difficulties, it is a method by which we can accrue investment.

Deputy Broughan referred to a capital gains tax estimate of €45 million, which is a full-year estimate of the 3% tax increase from 22% to 25%. The investment we expect to accrue in 2009 will be €625 million. Not everybody will be happy with these increases. However, they are methods by which we can increase our tax base and accrue further income to the State outside of taxation on labour. I am sorry about the increase in the cost of cigarettes. Also, I am desperately sorry I was not in a position to retort to the Deputy's view. I suggest if cigarettes cost €100 per packet Deputy Stagg would still not give them up, which I appreciate.

See this speech in context