Speaking at the weekend, Irish Finance Minister, Charlie McCreevy announced that he would push to restore indexation of tax bands and the PAYE credit to allow for inflation, in what many have seen as an attempt to woo back the middle class taxpayers who deserted Fianna Fail in droves at the recent European and local elections.
Thousands of Pay As You Earn (PAYE) taxpayers have reportedly seen their tax bill increase over the past few years as a result of the 'bracket creep' which came about because of the non-indexation of income tax bands in recent budgets.
According to the Irish Independent, more than 1 million PAYE earners are likely to benefit from Mr McCreevy's plans to restore indexation.
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