Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I reject the slur Deputy Pearse Doherty threw across the floor about our motivation and that we are there to protect the wealthy at all costs. I remind the Deputy and his colleagues in Sinn Féin that far more ordinary people vote for Fianna Fáil than for his party. That is the reality. We, as a party, represent all sections of society. If one looks at the opinion poll data, which has been quite consistent, we are the party with the best spread of representation in terms of support across the social strata. That is not the case for no reason. It is because people see that we stand for a fair and decent society but we regard ourselves as being a party that is pro-enterprise and that wants to create an environment where investment is facilitated, supported and rewarded.

We can have the over-and-back all we want but on the substance of it, to my way of thinking, the net wealth that is there in Ireland is already net of tax. Income is taxed, income in respect of investments is taxed and assets are generally built up through after-tax income; therefore, to come forward with another tax which is fundamentally about taxing assets that have been generated through after-tax income is not fair and does not send out the right signal. I reiterate our position on it.

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