Sinn Féin’s finance spokesperson, Pearse Doherty TD, has said today’s budget is an attack on working families. The cumulative effect of the cuts and tax increases on working families is worse than expected.
Deputy Doherty said: “Today’s budget is anti-child, anti-family and anti-jobs. It is a budget that Fianna Fáil could be proud of.
“The decision to tax the family home is an inexcusable move at a time when so many families are struggling to pay mortgages. The charging of PRSI on all earnings if a worker earns more than €18,000 is unfair and will hit low and average working people hardest.
“The cuts to child benefit fly directly in the face of Labour’s pre-election promises. Even a small family will be hard hit by this decision. The increase in motor tax is another burden on families who need transport to get to work or school.
“Taken together these cuts and tax hikes could mean an average family could be hit with as much €1,600 and another €250 if they have a son or daughter in third-level education.
“Taken together all of these measures will push more families into financial hardship and poverty. It will also damage the local economy.
“Fine Gael and Labour promised to promote jobs and protect the most vulnerable. Budget 2013 will do the very the opposite. ”
Example below of a family with two incomes (both over €18,000) with three children.*
Child Benefit 456
PRSI 528.32
Property tax 200,000 405
Car tax 120
Student Contribution Increase 250
Total: €1759
Child Benefit cuts of €10 each month on first two children and €18 a month on third child Increase for both wage earners under new PRSI change.
Property tax on house valued at €200,000
Motor Tax increase on two band C 2009 family cars
Increase in student contribution €250
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