Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

As the Taoiseach scratches around for additional money for things like housing which we need desperately, health and education services and water infrastructure, has he taken note of the significance of the Comptroller and Auditor General's recent report which confirms something those of us on the left have been saying for years? Now it comes from a source that the Taoiseach cannot dismiss quite so easily. The report outlines how 90 of the richest individuals in the country are declaring taxable incomes which are less than the average industrial wage. In 2016 these high net worth individuals claimed €96 million in various tax credits and reliefs. By the way, they are people whose individual wealth is estimated to exceed €50 million. It is absolutely shocking when one thinks of some of the social problems people in this country face that some of the richest people are availing of tax reliefs and credits to bring their taxable income down to negligible levels. The Comptroller and Auditor General's report also points to something else we have said repeatedly about the extent of corporate tax loopholes. As someone who has spoken a lot about this issue, the Comptroller and Auditor General's figures stagger even me. In 2016, €296 billion was available in allowances and forward losses to be offset against profits. It is estimated that in future years it could rob Revenue of approximately €29 billion.

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