Vol. 436 No. 1
5 Mr. Yates asked the Minister for Finance if his attention has been drawn to the proposal emanating from the NESC recommending the introduction of a property tax; and if he will give a commitment not to introduce this proposed additional tax burden.
I am aware of the proposal for a property tax contained in the NESC report published today. I welcome the report which contains many valuable recommendations and I will be giving careful consideration to those recommendations which fall within my area of responsibility. Clearly a property tax would be one of the options available to me to extend the tax base and thereby reduce the income tax burden. There are, however, no particular proposals at present for the introduction of a general property tax.
I am taken aback by the Minister's reply. In a statement recently he stated that any tax reforms would have to be financed by way of new taxes. Householders would be aghast to learn, given that they have been crippled by the PAYE system, that they now face the prospect of being asked to pay property tax by this high spending, high tax Government. Will the Minister take the opportunity today to state emphatically that this Government will not introduce new property tax or extend the existing residential property tax, given that people at work are already carrying a heavy burden and would be first to be affected if any such tax were to be introduced?
As I have stated, there are no particular proposals at present in this area. As of now, Deputy Yates can rest easy.
Like milk and water, it is coming.
The door has been left wide open.
Deputy Carey may not intervene at this time, as he knows.
