Michael McCarthy (Cork South West, Labour)

Sinn Féin argues that a high rate of tax has not stopped Norway and Britain from being successful petroleum producers. This is not a reasonable or logical line of argument. The fact that Norway and Britain are successful petroleum producers allows them to charge a high rate.

Other Deputies also suggested Ireland could draw on the experiences of countries like Russia and Venezuela. If anything, drawing comparisons between Ireland and Russia or Venezuela is even more inappropriate. Russia has the world's largest reserves of natural gas, while Venezuela has over 200 billion barrels of proven oil reserves.

Like everyone else in this House, I am committed to the notion of generating revenue where possible and putting a stop on public expenditure in terms of getting value for money. If we pursue the logic of Sinn Féin not alone in its ridiculous approach to our involvement in the European Union but also in the leprechaun style of motions like this, we do nothing but raise the hopes of people in very difficult circumstances. All that is missing from this motion are black shoes, golden buckles and green hats. It is laughable.

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