Minister calls on Rabbitte to spell out plans for wealth tax

The Minister for Social and Family Affairs, Seamus Brennan, has called on the leader of the Labour Party to clarify plans for a wealth tax.

It follows Pat Rabbitte's indication that a form of tax on wealth would be introduced if the party is returned to office.

Minister Seamus Brennan said clarity was urgently needed to stop investors from leaving Ireland.

He said he thought the introduction of the tax would be a regressive step.

Mr Brennan said: "The reason why the economy has been successful has been that successive governments have stayed away from taxes like this which bring about the flight of capital and frighten off international investment."