I’d Gladly Pay You Tuesday

at

This morning.

Government Press Centre, Dublin 2.

Minister for Public Expenditure & Reform, Michael McGrath (left) and Minister for Finance, Paschal Donohoe at the launch of  the Government’s Summer Economic Statement 2021. To wit:

Despite needing to borrow nearly €19bn more than expected to balance the country’s books for this year, Paschal Donohoe intends to keep the purse strings loose for the lifetime of this Government.

The Finance Minister is looking at €2bn of tax cuts by the end of its term in 2025, while at the same time ramping up non-Covid spending.

We’re back, baby.

Rarr.

Post-pandemic boom to fund four years of tax cuts as Donohoe loosens purse strings (Independent.ie)

Meanwhile…

Seems legit.

Leah Farrell/RollingNews

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7 thoughts on “I’d Gladly Pay You Tuesday

  1. MR.T

    “€2bn of tax cuts”

    Finally something for the squeezed middle

    “Minister for Finance, Paschal Donohoe told @morningireland that Ireland is not about to abandon its rate of Corporation Tax”

    Oh its *that* kind of tax cut…

      1. MR.T

        Plenty of people do – plenty of people who work in MNCs here would advocate for increased corporate tax. The alternative is we continually shaft the tax paying PAYE worker

    1. Ronan

      They backtracked on that immediately after an election:
      https://www.thejournal.ie/usc-prsi-merge-abolish-irish-taxes-3481467-Jul2017/

      Besides, USC is quite low for low-middle earners. and a distraction from the real issue effecting middle income earners – the entry point for 40%. Folks instead should be pushing to raise the level at which you hit 40% income tax.

      The problem with tinkering with bands is that someone earning 100K gets the same absolute amount relief (though arguably they are paying far more tax to begin with, so it’s proportionately less of a cut) as someone earning, say, 40K if the band pushes from 35odd to 40k.

      That’s where you actually want to leave USC there, so that you keep it as a levy for high earners, and as a balancing lever to recoup some of the cost of making taxation that little bit more progressive. And I’m speaking as someone who would benefit very nicely if as blunt an instrument as abolishing USC was used.

      1. Blob

        agreed on all accounts. I just hate how they use it as an incentive to vote for them and they’ve no intention on reforming it.

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