Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Minister took issue with the figure of €3 million. He is correct in stating that there is a cap so this reduction will only apply on earnings up to €1 million. This is where the benefit of €111,000 arises. Perhaps the Minister does not fully understand what we are saying. In some cases, these individuals who are getting the benefit of a €111,000 reduction in taxable income earn in excess of €3 million. Our point is that some of those to whom we are referring are extremely wealthy individuals. We do not have the information indicating how much more than €3 million they earn; they could earn €10 million or €15 million or it could be a couple of euro over €3 million, but they are extremely wealthy. There are eight people earning more than €3 million according to the Revenue Commissioners' figures. There are 23 people earning between €1 million and €3 million. These individuals are all getting the benefit of a €111,000 reduction in taxable income under this section that they might not otherwise get.

The Minister stated that these people are associated with a country and the public good. The janitor keeping our hospitals clean and who ensures infection control because floors are mopped and utensils are clean is also providing a public good, and it is possibly a greater good. The person driving a bus, taking us on public transport from A to B, also provides a public good. The teacher teaching a child to read is also providing a public good. What is happening to them? Will they be able to write off 30% of their income against tax? Not a chance. On 1 January they are facing a flat-rate expenses change, meaning their take-home pay will be reduced. That is the reality and the problem.

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