Does the Minister agree that tax avoidance is the dark side of the Irish economy? Under the Minister's stewardship, tax avoidance has become social welfare for the rich. He speaks about the poverty industry, but the tax avoidance industry is the equivalent of social welfare for the rich. Is he aware that reliable estimates suggest that assets of as much as €5 billion are offshore in various islands near this jurisdiction? These arrangements are coming to an end, but representatives of a prominent Swiss bank were in town recently to hold interviews with wealthy possible clients who may be distressed because they are facing inquiries by the Revenue Commissioners. Does the Minister agree that this type of tax avoidance – it may also be tax evasion – is eroding the confidence of the ordinary taxpayer and the working family who pay taxes but have to watch this parade of the very wealthy avoiding their taxation responsibilities?
I asked the Minister of State a question last week about a tax device being used by an Irish consortium on the Christina O boat. They were to receive about €25 million in tax breaks. What are the Minister's officials and the Revenue Commissioners doing to tackle some of the people who have offshore funds of up to €5 billion? Will these individuals be cruising to another tax haven on the Christina O, aided and abetted by the Minister's failure to take serious upfront action to tackle this scandal? We already know what was disclosed by the DIRT inquiry and the various tribunals. It was said about ten years ago that there was no pot of gold in relation to non-compliance by the rich, but that has been shown to be absolutely untrue. I want to know what steps the Minister is taking to ensure that these people pay their fair share of tax. Can the €5 billion be brought back into this country? We could do with the money to help to provide the infrastructure we are lacking.