Joan Burton (Dublin West, Labour)

-----they all came up with a suggested and magical figure of €1,000 in respect of a property tax. The Central Bank and Financial Services Authority of Ireland and various other institutions also used that figure in their commentaries. Perhaps secret meetings are taking place, funny handshakes are being exchanged and indications are given as to the likely shape policy will take. In any event, people are extremely concerned with regard to an additional tax of €1,000 being levied in respect of every house.

People have large mortgages but their incomes are shrinking. Many of them paid a great deal of stamp duty and are due to lose out on mortgage interest relief in the near future. If they are employees, their marginal tax rate will have risen to 51% and if they are self-employed, it will have increased to 52% or 53%. It will be a major imposition on these individuals if they are obliged to pay €1,000 from their disposable incomes while also taking the hit the Minister is proposing in respect of child care.

The director designate of NAMA informed the Joint Committee on Finance and the Public Service yesterday that he and his officials had met representatives of the Congress of Trade Unions and, under the auspices of the Construction Industry Federation, also the developers. The only place that does not receive information is the Dáil. Social partnership is fine and does many great things. However, the Dáil represents all citizens and its members should be provided with the relevant information. The way matters operate at present, this is not happening. It is for this reason that the reports of an bord snip nua should be published in order that we might engage in a reasoned debated.

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