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Gilmore Hints At Irish Tax Cuts

by Jason Gorringe, Tax-News.com, London

21 February 2014


The Irish Government is "working for a sustainable, and fairer recovery" that may enable it to introduce targeted tax cuts in future, the Deputy Prime Minister has said.

Speaking at Labour's 2014 Conference, Eamon Gilmore claimed that his party had entered the Coalition Government in 2011 with a determination to "face into the crisis, not to run away from it." He added that Labour had committed to protecting core welfare rates, restoring the minimum wage, lifting 330,000 people out of the Universal Social Charge net, and preventing any income tax hikes.

In turn, it "chose to put up taxes on wealth so that we could avoid higher taxes on ordinary incomes."

Moving on with the "next phase" of the economic recovery, Gilmore hopes to ensure that improvements are "real in the lives of hard-pressed families." He wants to avoid the cycle of boom and bust and create "a sustainable prosperity."

The Government will continue to manage the recovery, so that it "spreads out fairly." Moreover, it must be maintained "so that when we have the resources to do so, we reduce taxes on income and family homes."

This would take priority over "cutting capital taxes and developing new tax breaks for the wealthy," Gilmore confirmed.

This is "the choice" Labour wants to make on tax, he stressed. For Labour, "recovery is about improving the life chances, and the living standards, and the quality of life of the hard-pressed families whose sacrifices made recovery possible."

TAGS: individuals | Wealth | tax | Ireland | employees | tax rates | tax breaks | tax reform | standards | individual income tax

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