Arthur Morgan (Louth, Sinn Fein)

Section 3 provides for a reduction in the jobseeker's benefit, the illness benefit, the disability gratuity, the carer's benefit and the invalidity pension. The consequence of the vote on this section will be that parents will have to choose between buying food and paying a bill. Other speakers have expressed similar concerns but they are worth repeating in order to ensure the Government's supporters in this House understand what they are doing to people across this land. It is shocking to realise that is the case. We were told at the outset those who could afford to pay would pay. I, too, read the analysis to which Deputy Noonan referred. Two economists, Michael Taft of UNITE and Tom O'Connor of the Cork Institute of Technology, have produced papers which demonstrate that individuals on non-PAYE incomes of more than €200,000 will gain substantially from this budget. The Minister is indicating his disagreement with their analysis but I wonder if he has had the opportunity to read their papers. Given that he clearly disagrees with them, I would be grateful if he could point out the errors in their calculations. They convincingly argue that individuals earning in excess of €1 million will enjoy get an additional 5% in this budget. The benefit increases even further if one earns more than that.

Where is the new tax band to capture those on very high incomes? Where is the measure to capture the benefit of the considerable wealth that exists in this State?

See this speech in context