Dáil debates

Wednesday, 5 December 2012

Financial Resolution No. 14: Capital Acquisitions Tax

 

7:45 pm

Photo of Pádraig Mac LochlainnPádraig Mac Lochlainn (Donegal North East, Sinn Fein) | Oireachtas source

It is a desperate chorus of people who were clearly defeated by Fine Gael in negotiations when that party clearly defended the interests of the wealthy. Fine Gael could have considered the reality on the ground and done much more. The Labour Party lost out but rather than acknowledging that it did not get what it wanted in negotiations and the wealthy have been protected overall, we hear nonsense from members about how Department of Finance feedback is not reliable or the way to do business. Nobody will buy that absolute nonsense outside the House.

We will support Financial Resolutions Nos. 12 to 14, inclusive, begrudgingly. There was an opportunity raise over €300 million but the Government will raise approximately €100 million. The figure in question - roughly the same as what will be brought about by the property tax - could have been achieved by asking the wealthy to pay their share, undoing the damage done by Champagne Charlie when he was around. This is all about choices and winning negotiations. The Labour Party lost to Fine Gael but it should not blame us or the Department of Finance when it provides answers to questions, as it is required to in our Irish democracy.

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