Rose Conway Walsh (Sinn Fein) | Oireachtas source

I move recommendation No. 6:

In page 33, between lines 2 and 3, to insert the following: “Report on introduction of a progressive wealth tax

27.The Minister shall, within 6 months of the passing of this Act, prepare and lay before Dáil Éireann a report on options available for the introduction of a comprehensive and progressive wealth tax. The report shall include options for; the collection and collation of data necessary for the assessment of such a tax, categories of wealth to be included in such a tax, rates applied to certain categories of wealth under such a tax, proposals for the assessment and collection of such a tax, and estimated revenue raised under those options.”.

This is for the introduction of a wealth tax. The reason I wish to move the recommendation is because in our alternative budget, we wanted to introduce a wealth tax for the wealthiest 0.25% in this State at a rate of 1% on the portion of wealth held over €1 million. That would bring in €89 million, which would pay for a great many things that are necessary.