Sinn Fein Finance spokesperson Pearse Doherty has said “the devil is in the detail” of Taoiseach Leo Varadkar’s tax cutting proposals.
Teachta Doherty said the only commitment in the Taoiseach’s leadership manifesto was for a €441 million tax cut for those earning twice the average wage.
He said; “Taoiseach Varadkar’s commitment to cut income tax may be extremely popular but the devil is in the detail.
“The only commitment he made in his leadership manifesto was to ensure nobody pays a marginal rate of over 50%.
“But only people earning over €70,000 per year, or twice the average wage, are paying a marginal rate above 50% and to bring it below 50% would cost €441 million.
“That’s nearly a half a billion euro of a tax cut for some of the highest earners in the state meanwhile there is no commitment to invest the required funds to take people off hospital trolleys or to build the required amount of social homes that are so desperately needed.
“I find it absolutely outrageous that this is Leo Varadkar’s priority at this time, that he is saying he will find the money for tax cuts yet he won’t say he will find the money to invest in our health services or in houses.
“The next general election will be a contest between parties that are genuinely committed to fixing the crises in health and housing and parties who are committed to cutting taxes for some of the most wealthy people in society.
“No party can do both – that is not possible.”
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