Claiming our Future is organising its second deliberative event in Galway.
The event will involve discussion on the principles that could guide our approach to income equality, on the income, tax and welfare policies that could be implemented to reduce income inequality and on the local action that could be taken to make progress on this issue.

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Oct 2010 1) General (Closed) Forum

237 votes

Re-enact Justin Keating 1975 legislation on oil and gas and extend this to all OUR natural resources

What sort of Ireland we wish to live in. Will it be all about the financial benefit to the few or the maximum benefit to the People of Ireland.
We believed till recently that the cuts are necessary as the country is in a financial crisis but the truth is Ireland is one of the richest countries in the world in terms of natural resources, Zinc, Lead Gold, Gas and Oil.
The Division of the Department of Communications, Energy and Natural Resources state:
“In terms of tonnes of zinc discovered per sq km, Ireland ranks 1st in the world.”
According to oil experts the Corrib field and the Dunquin prospect, are collectively worth at least €400 billion. The Dunquin oil and gas reserve alone could “transform the energy requirements of Western Europe” Tony O’Reilly Junior, Providence Resources.
Finance Act 1999 set corporation tax 12.5% on the profits of OUR natural resources. In addition a raft of tax concessions are available in some cases up to 120% of expenditure.
It’s not enough to say “STOP THE CUTBACKS” we must promote an alternative


The re-enactment of Justin Keating 1975 legislation on oil and gas and extension of this to all OUR natural resources
Among the terms were:
* Up to 50% stake find in any commercial field
* 8-16% royalties
* 50% Corporation tax

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