Seanad debates

Friday, 11 December 2020

Finance Bill 2020: Committee Stage

 

10:00 am

Photo of Paul GavanPaul Gavan (Sinn Fein) | Oireachtas source

I take the Minister of State's point. We will certainly take it up in other areas. However, the Minister of State highlighted a fundamental issue in terms of Revenue and when it comes to wealth, namely, there is not enough information when there needs to be. It is striking to Sinn Féin that, every year, when we propose a wealth tax, the Department of Finance comes back and states it cannot possibly estimate what that might bring in. That in itself admits we do not know enough. An important point about a wealth tax is that it would enable the State for the first time to map accurately what wealth there is in the State and where it is.

While I take the Minister of State's point, it still speaks to the fact that there is much more we need to do if we are going to see real tax justice. We need to map that wealth and shine a light on some of the ongoing actions in areas such as section 110 companies. We will take up that suggestion. However, I cannot help but notice that on each occasion today when we asked the Minister of State to work with us in terms of looking at reports and eliciting information that might be useful, he has turned us down. That strikes me as going back to this free market ideology at the heart of Fianna Fáil, unfortunately, and Fine Gael.

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