Joan Burton (Dublin West, Labour) | Oireachtas source

The Minister and I have discussed this matter on a number of occasions. His objection has been on the basis that not every country in the European Union was agreeable to this measure and, in particular, that the United Kingdom was opposed to it. In the context of Brexit and the fact that other countries in the European Union have moved towards the development of a financial transaction tax - some countries have agreement in principle on it - could the Minister update us on current status of the proposals?

A couple of countries in the European Union have unilaterally introduced a form of transaction tax but have had to withdraw it. Can the Minister comment on what would happen if countries were to act in concert, in particular given the likely departure of the UK from the European Union over the next two to four years? There were general discussions at ECOFIN about more co-operation in regard to these kinds of taxes in order to try to offer some level of stability in the financial markets.

Will the Minister of State say if any progress has been achieved? Has he, in the context of Brexit, given any further consideration to the developments within the European Union, of which I think we all propose to stay a member?

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