Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

Socialists all over the world are in favour of property taxes. There is, therefore, a contradiction in the Deputy's position.

Following a discussion between the Department of Public Expenditure and Reform, the Central Statistics Office and the Central Bank, the Central Statistics Office undertook a household finance and consumption survey, HFCS, to obtain information on household wealth. The results of the survey are expected to be available in early 2015. The main aim of the HFCS is to provide structural information on household assets and liabilities based on a representative sample of households. This will address gaps in knowledge about the economic well-being of households, the distribution and type of wealth and liabilities among households and individuals, as well as factors that affect financial planning for households and individuals. The data collected by the CSO as part of its household finance and consumption survey are not being collected for the purposes of calculating the potential yield from a wealth tax but to collect general information on the financial position and behaviour of households. The Government has no plans to introduce a wealth tax, although all taxes and potential taxes are, of course, constantly reviewed. There is work in progress that will provide the data about which the Deputy speaks.

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