Micheal Martin rubbishes Varadkar's tax promise, says it could cost up to €4bn

Micheal Martin rubbishes Varadkar's tax promise, says it could cost up to €4bn

Latest: Fianna Fáil leader Micheal Martin has rubbished Taoiseach Leo Varadkar's big tax promise, saying it could cost up to €4bn to implement, writes By Daniel McConnell, Political Editor.

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Mr Martin said he would not be getting into “matching” tax promises.

On Mr Varadkar's plan, he said: “That could be anything from €1.6bn to €4bn of a pledge. Do you remember the last General Election, the big promise? US style taxes, the pledge of 'we will abolish the USC'. That was a €4bn promise abandoned as soon as they got into Government. So cool the jets, as someone said earlier.”

“It was an election platforming speech, that element of it - no questions - and there were no costings attached to it,” he added.

“It was designed to target a particular audience but if you look at the health and housing sections of the speech, very weak indeed. No mention of broadband, (the cost of delivering) which the Taoiseach has said will be multiples of the original estimate,” he said.

Sinn Féin slams Taoiseach's 'election gambit'

Sinn Féin has hit out at the Taoiseach over his plans to reform income tax, calling it an "election gambit".

Leo Varadkar announced yesterday he would raise the threshold for the upper rate of tax to €50,000.

However, Sinn Féin said the move would cost the state more than €2bn.

The party's finance spokesperson, Pearse Doherty, said the cuts will not help people struggling with the cost of living.

He said: "The two million people who are below the €35,000 that the Taoiseach was talking about won't receive a penny of that, there will be no impact whatsoever.

"This is designed for the top 20% of earners in society and really it doesn't address the core issues they face and many others face."

Micheal Martin rubbishes Varadkar's tax promise, says it could cost up to €4bn

- Digital Desk


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