Tom Shehan (Fine Gael) | Oireachtas source

We should be directing our attention towards the upcoming budget. To that end I have written this morning to the Minister for Finance, Deputy Noonan, asking that we give austerity a break, following the words of Mr. Mody, formerly of the IMF. I believe he is right. The working people are suffering. They are finding life very difficult and we cannot hit them again in this budget. This year's budget will not take the promissory note of €1 billion into account. It was asked how could we raise the funds so that we would not have to increase taxes in the forthcoming budget. I suggest now, as I did this morning to the Minister, that the country needs a transfusion of funds. During the banking debacle endless billions of Irish money left the State and I believe, although this might not go down too well in some sectors, that now would be an appropriate time for a tax amnesty. We could repatriate that money and get it working for the economy. Aside from the immorality of tax avoidance, we need an injection so that the Government will not raise taxes on working people. An amnesty would be a windfall for the Exchequer. It will put capital back into the economy. It will recapitalise the banks and will get the economy working. As soon as possible we should start a debate on this in the House because on all sides there are some very good minds and they could be of assistance to the Minister.