People Before Profit TD Richard Boyd Barrett says he welcomes an Oxfam report published today calling for a 1.5% wealth tax on Ireland’s multimillionaires, to raise €4 billion.
In a statement, the Dun Laoghaire TD said:
“The Oxfam report confirms the absolutely staggering increase in the wealth of tiny minority of super-wealthy individuals in this country and across the world over the last two years.
“While the vast majority of people have been enduring the hardships of the Covid pandemic, a small cohort of multi-millionaires and billionaires have seen their already staggering levels of wealth reach obscene proportions.
“This level of incredible wealth inequality is not victimless.
“The flip side of the coin of this huge and growing concentration of wealth in the hands of a small number of super-wealthy individuals is poverty endured by many and the lack of resources available to address the housing crisis or invest in public health and education.
“We have to address the extreme and levels of wealth inequality in our society.
“The very least we could do in this regard is impose a small wealth tax on the multi-millionaires, which would raise billions for housing, health, education and vital public services.
“The super-wealthy would barely even feel it.”