I appeared on ‘The Last Word with Matt Cooper’ for an Election debate on “Will We See Any Reduction in Our Taxes“. You can listen back to this debate here and below.
Labour On Taxation…
Now is not the time to cut taxes, with nearly 4,000 children in homelessness and hundreds of thousands waiting for medical tests and treatments. Using taxation to pay for public services can and should deliver better value for money than each of us buying services individually in a for-profit market, which excludes so many people. Labour will maintain the tax base, while delivering better outcomes.
Labour will not raise taxes on ordinary workers’ incomes and will widen Income Tax bands to prevent inflation eroding incomes. Labour will not raise USC. We will progressively withdraw Income Tax credits on high earners with incomes over €100,000.
Labour will introduce a minimum effective rate of Corporation Tax of 12.5%, which will be 10% for companies that locate to disadvantaged regions of the country. We will conduct a major review of the sustainability of Ireland’s Corporation Tax base.
Labour will establish a Standing Commission on Taxation to conduct ongoing review of the tax system and of all tax breaks. This Commission will have the mandate to ensure the sustainability of Ireland’s tax revenue, and the fair distribution of all forms of taxation across the population. We will increase the penalties for tax evasion, and increase resources for the Revenue Commissioners to robustly pursue tax evasion.
Labour will adjust motor vehicle taxes to promote the uptake of low-emission vehicles and introduce stricter environmental criteria for company cars on our roads.