Sunday Times Rich List Shows No Recession for the Rich

People Before Profit Alliance Calls For Immediate Action to Curb Tax Avoidance by the Rich
Alternative Economic Agenda to Be Launched At Major Rally

The People Before Profit Alliance today called for immediate action to ensure that Ireland’s super rich make a serious contribution to bailing the country out.
The Alliance spokesperson Richard Boyd Barrett said:  “The Rich List shows there is no recession for Ireland’s wealthy elite. The wealthiest top ten share €17 billion between them. Half of these, including Denis O Brien, Tony O Reilly and Dermot Desmond are tax exiles. While the rest of us are being hammered by levies, extra taxes and cuts in basic services these people are living it up. The government must immediately close off all tax loopholes so that these people pay their share”.

At a major rally on Tuesday the Alliance will launch An Alternative Economic Agenda.
The Alternative will offer a radical alternative to the failed policies which have  created the recession. 

The Alternative prioritises equality, job creation and access to high quality public services. Among other proposals the alternative calls for:

  • Nationalisation of the banks to create a state banking system. Organise the credit system to eliminate financial speculation and to support job creation.
  • The creation a State Construction Agency and embark on key infrastructural projects to create jobs and stimulate the economy. With the creation of this state construction company, the government needs to embark on a major public works programme.
  • The development of new state led strategic industries, which take Ireland’s industrial development forward.
  • Radical overhaul of the tax system to create an equitable tax system
  • Emergency legislation to close the tax fugitive rule which allows the wealthy to abscond from paying taxes.
  • Remove all property based tax incentives.
  • Tax all income over €100,000 at a surcharge rate of 70 percent.
  • Introduce a special 3% wealth levy on all income-producing assets and houses except the family home, for those earning more than twice the average industrial wage.
  • Cut VAT rates and increase capital gains and corporation tax.
  • A 35 hour week while preserving existing pay rates in order to create extra jobs.
  • The development of  Ireland as a genuinely egalitarian and multi-cultural society that respects human rights and values the contribution of all.

    As the local and European election approach the Alliance will be working with others to offer a real political alternative.
    People Before Profit Councillor Joan Collins said: “The People Before Profit Alliance believes that a new left political alternative is more urgent as every day passes. The People Before Profit Alliance is aiming to build that alternative. Those on the radical left and independent activists need to put aside their differences and come together in campaigns, electoral alliances and a new political movement. We are in active discussion with others and have invited them to speak at the launch of our alternative economic agenda”.