Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

A number of amendments have been ruled out of order, and I am not challenging the ruling of the Ceann Comhairle in that regard. There is, however, a need for clarification for future legislation. This is not a property tax. The Minister knows what property is. It is not just a home. It also includes other assets, such as stocks and shares, gold, savings and so on. The Bill proposes a home tax and that would be the most apt Title for the Bill.

Amendment No. 1, which has also been ruled out of order, gives the Government the opportunity to look at other revenue collecting possibilities by imposing a real property tax. If we are debating a property tax Bill, as the Title of the Bill suggests, amendment No. 1, submitted in my name, provides for a real property tax that looks at the net assets of individuals.

As we go through the Bill we will see that we are, in many instances, taxing debt. Where people have mortgages that are in excess of the value of their family home, we are taxing a liability or taxing debt. That is what the Government intends to bring through.

There are 88 amendments before the House and we have three hours to debate Committee Stage, which gives us less than two minutes per amendment. Deputies also have a democratic right to call votes, which will eat into that time. I know it is embarrassing for the Minister for Finance, given the commitment made by him and all Government party Deputies, before they came into office, to oppose a recurring residential property tax. It is appalling that we are in this situation.

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