Noonan defends his ‘progressive’ budgets

The fiscal consolidation measures introduced by this Government are among the most progressive in OECD countries, according to Finance Minister Michael Noonan.

Mr Noonan, who was appearing before the Oireachtas Finance Committee on the Finance Bill, had to fend off sustained attacks from People Before Profit’s Richard Boyd Barrett, Sinn Féin’s Pearse Doherty and Fianna Fáil’s Michael McGrath, and claims that the past two Government budgets have favoured the better-off at the expense of the more marginalised in society.

“A research study conducted by the European Commission shows that the fiscal consolidation has been very progressive,” said Mr Noonan. “It shows that 30% of the burden has been should by the 10% highest earners.”