Boyd-Barrett: Wealth tax 'could raise up to €10bn'

A prominent campaigner for a No vote in the EU Fiscal Treaty said today that he would favour gathering €10bn in extra wealth taxes if Ireland is cut off from EU funding after the referendum.

Richard Boyd-Barrett today officially launched the People Before Profit campaign for a No vote.

The Dún Laoghaire TD is rejecting the claim that Ireland could find itself cut off from European or IMF funding if the treaty is rejected.

He said that even if that were to happen, the money to run Ireland could be secured through extra taxes on high earners.

"We could get on higher income taxes on earners over 100,150 and 200,000 - [from] that you could get between €1-2bn extra into the State coffers, and you could raise through a 5% wealth levy on the...wealthiest people in this country" he said.

"You could raise between €5-10bn."