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02/04/2009
Opposition Launches Own Budget Proposals
Fine Gael has launched their own proposals to 'save the Irish Economy', with €3.5billion in cuts and €333m in tax breaks to protect jobs being proposed.
Announcing the proposals, party Leader Enda Kenny said job creation and protection must be at heart of emergency budget.
The €3.5bn cuts suggested by the opposition would be dominated by cutbacks and savings and were accompanied with a warning it was not possible to tax any economy back to recovery.
Commenting on the proposals, Enda Kenny said: "If we don't fix the jobs crisis we won't fix the problem in our public finances.
"That means cutting the lower rate of VAT to 10%, a PRSI tax break for employers taking on new workers and reversing the October increase in the top rate of tax."
Fine Gael wants to follow in the UK's footsteps of reducing VAT from 13.5% to 10% for the next two years.
They have also suggested a commitment to keep the current income tax rates unchanged but would impose what it calls a 'temporary solidarity tax' on high incomes.
Party Finance Spokesman Richard Bruton said their four-year plan would eliminate the structural deficit of around 7% to 8% by 2013.
Fine Gael is also looking to widespread reform of the public service to make substantial savings and restore balance to the national finances over the next five years.
The emergency budget is being announced by the Fianna Fail Government on April 7th.
(DW/BMcC)
Announcing the proposals, party Leader Enda Kenny said job creation and protection must be at heart of emergency budget.
The €3.5bn cuts suggested by the opposition would be dominated by cutbacks and savings and were accompanied with a warning it was not possible to tax any economy back to recovery.
Commenting on the proposals, Enda Kenny said: "If we don't fix the jobs crisis we won't fix the problem in our public finances.
"That means cutting the lower rate of VAT to 10%, a PRSI tax break for employers taking on new workers and reversing the October increase in the top rate of tax."
Fine Gael wants to follow in the UK's footsteps of reducing VAT from 13.5% to 10% for the next two years.
They have also suggested a commitment to keep the current income tax rates unchanged but would impose what it calls a 'temporary solidarity tax' on high incomes.
Party Finance Spokesman Richard Bruton said their four-year plan would eliminate the structural deficit of around 7% to 8% by 2013.
Fine Gael is also looking to widespread reform of the public service to make substantial savings and restore balance to the national finances over the next five years.
The emergency budget is being announced by the Fianna Fail Government on April 7th.
(DW/BMcC)
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