Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

No; an effective rate of 60% at the top. That is more reasonable than attacking people on social welfare, the disabled or people on low incomes because, by attacking them, the Government has depressed the economy as well as pushing them into poverty. Why is it unreasonable to take €100,000 more in tax from somebody who earns €500,000 while it is not unreasonable to attack somebody who is on the poverty line? I just do not understand the logic.

Second, as I pointed out yesterday in regard to corporation tax, despite gaining €61 billion in profits last year, corporations paid only €4 billion in tax, an effective rate of 6.5%. If we enforce the 12.5% corporate tax rate, the Government will get an extra €4 billion. The Minister for Jobs, Enterprise and Employment, Deputy Bruton, responded to this by saying these allowances are for research and development and all the rest. I have the details in front of me but they are not transparent. For example, there is a €4 billion discount under the category "Other Deductions". Can the Minister of State explain what those other deductions are?

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