Following the lead of the Fianna Fail-PD coalition government, Fine Gael promised on Tuesday that the party will not increase taxes if it is successful at the next General Election.
Party Leader Michael Noonan, delivering his economic framework, pledged that his party would not increase taxes on income, business or capital, and would limit current spending growth to GDP growth plus inflation, plus 2%.
Mr Noonan criticised the Government's current spending, saying that levels are 'far in excess of growth in the economy', and accusing Finance Minister Charlie McCreevy of 'short-term opportunistic mismanagement'.
However, he admitted that the country's recent phenomenal growth was based on its low tax regime, and that as such, to reverse the approach would be 'counter-productive'.
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