Speaking at the most recent meeting of the Leinster Society of Chartered Accountants, Irish Finance Minister Brian Cowen hinted that he is planning to tackle the issue of increasing tax bands in his forthcoming budget, in order to combat the 'bracket creep' which has occurred in recent years.
According to the Irish Independent, Mr Cowen told those attending the luncheon in Dublin that:
"My approach to Budgetary policy is grounded in my conviction that we must protect our competitiveness. One way to achieve this is to avoid adding inflationary pressures which will give rise to wage demands and set in train a vicious cycle for the economy."
Observers have suggested that this indicates that a fairly large widening of the tax bands is being considered by the government.
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