Paul Murphy (Dublin South West, Solidarity) | Oireachtas source

I move amendment No. 53:

In page 47, after line 35, to insert the following:

"Chapter 7

Millionaire’s Tax

36.(1) The Minister shall, within 6 months of the passing of this Act, bring a report on additional revenue that would be raised by introducing a Millionaires’ Tax of 2 per cent on net wealth exceeding €1 million.

(2) The Minister shall, within 6 months of the passing of this Act, compile a national database on the distribution of wealth and assets.".

This is a proposal for a millionaires' tax. There are wealth taxes in other countries in Europe. They are not of the scale of the proposed millionaires' tax. We heard in the past week or so about the 13,000 who have become dollar millionaires in Ireland over the course of the past year. My figure is a euro millionaire figure so it would not be quite so large, but presumably not far off. The numbers of millionaires and homeless people are increasing simultaneously. We believe we should be taxing the wealth of the very wealthiest in society with a tax such as the millionaires' tax.

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