Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

The purpose of the question was to ask the Minister his views on the assertion, by Fine Gael Ministers particularly, that further tax increases on high earners and corporations would adversely affect investment rates when the evidence in the European Union is that countries which have much higher rates than Ireland have immeasurably higher investment and projected investment rates. Does the Minister agree that data from agencies such as the OECD, EUROSTAT and the IMF disprove comprehensively that right-wing argument that increased taxes on high earners and corporations would be a major barrier to investment and economic activity?

Is the Minister aware that, for example, the effective tax rates on the highest income-earners in Austria is 37%; in Sweden, 37.4%; and in Germany, 44%, compared with 31.5% in Ireland? Is he aware that corporation tax rates are 25% in Austria, 26% in Sweden and 30% in Germany, compared with 12.5% - much less than that, effectively - in Ireland? At the same time IMF projections for 2017 for total investment which is critical to the future of the economy, put Austria, Sweden and Germany way ahead of Ireland which lags at 10.7% projected. Is it not clear that the Fine Gael-Labour Party policy is to protect the billionaire tax exiles, the rich, the elite in society, rather than being based on a solid economic policy which has not been proven?

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