NCC says property tax necessary

UNLESS the tax base is broadened to repair the public finances income taxes will have to be raised, the National Competitiveness Council (NCC) has warned.

To address that issue the report says Government should move on the introduction of a property tax without delay.

Such a step could raise €1.4 billion a year if a charge of €1,000 per home was introduced, said NCC chairman Dr Don Thornhill. He warned the competitiveness issue has to be addressed across a number of issues.