'Plans to abolish the USC disconcerting' says IBEC

IBEC claims abolishing the USC will damage the economy and leave Ireland open to future economic shocks.

Taoiseach Enda Kenny has pledged to scrap the charge if re-elected to Government.

However the Irish Business Employers Confederation say cutting it will lead to us repeating the mistakes of the past.

IBEC CEO Danny McCoy has said parties should not be rushing to scrap the tax: “I think this is really a folly, one of the more significant in domestically imposed policy mistakes was the hollowing out of the tax space.

“And so it is significantly disconcerting to find that right across the spectrum it would appear that everyone is rushing to either abolish or dramatically reduce the USC.”