Gerald Nash (Louth, Labour) | Oireachtas source

I hope the Minister will agree it is concerning. Given the drop in the number of both returns and outturns since the establishment and introduction of the levy, it ought to be kept under review. I hope he will agree also that high-net worth individuals should contribute more to the Exchequer and to the running of public services in this country from which they benefit.

I draw attention to comments made by the Commission on Taxation and Welfare in its report of last year, when it made the point the outturn from the domicile levy had been "negligible". There ought to be a better way of ensuring high-net worth individuals make a larger contribution, broadening the tax base and extracting more revenue from those with higher incomes and especially those with assets. That would really chime with the overall recommendation and the principles informing, for example, the Commission on Taxation and Welfare report, whereby we need to broaden the tax base and ensure a greater contribution will be made by those who have the most.

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