Does the Government take us for fools or is it just fooling itself? Before the Budget we were bombarded with fore-warnings with one central message. This Budget will be tough but fair. Tough but fair, said the Taoiseach. Tough but fair said the Tánaiste. Tough but fair said the Government Ministers. And afterwards, this mantra was repeated again and again by several Government representatives – in the hope that if Read More
If reports are true that Fine Gael Ministers are only prepared to allow for extra tax on higher earners if cuts are also applied to social welfare recipients, then this represents a new low in Irish politics. So much for fairness and social solidarity. Either we are in an emergency situation or we are we are not. Approximately 100,000 people earn in excess of €100,000 (based on pq reply 6683/12). Read More
The most recent data available on tax reliefs on pension contributions reveal that the State is foregoing €200m per year as a result of tax breaks on pension contributions made by people earning over €100,000 per annum. The figures relate to just two pension products, Retirement Annuity Contracts (RACs – used mainly by the self-employed) and Personal Retirement Savings Account (PRSAs). The figures were compiled by the Revenue Commissioners in Read More