Categorized | Economics

Budget 2017 – A Wasted Opportunity

Before Budget 2017 the Hibernia Forum highlighted the fact that Income tax payers had been singled out by Government. The central reality is that while the real economy and revenues under most tax headings are struggling to recover to their 2007 highs, revenue from Income Tax and the Universal Charge is expected this year to equal 140% of its 2007 level, having reached 100% in 2011.

Budget 2017 was a wasted opportunity, whilst few would object to those on contributory pensions, carers allowance, disability allowance or job seekers benefit receiving a rise, the Government decided to discourage work by giving a blanket increase to those on job seekers allowance, which includes the 34,500 who have never worked, never contributed a cent in PRSI.

This wasted opportunity means a single person earning up to €51,500 will benefit less from Budget 2017 than a person who has never worked!

This is grossly unfair on the hard working tax payers of Ireland; it seems yet again the Government has ignored Middle Ireland.

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