Book extract: ‘Turnover tax’ in 1963 was fraught with political risk

When finance minister James Ryan introduced a new sales tax of 2.5% on all goods and services it was the most significant change to the Irish taxation system since independence

James Ryan on budget day 1957; on his seventh budget in 1963 he proposed a new sales tax of 2.5% on all goods and services, which he christened the ‘turnover tax’. Picture: courtesy of Lensmen photographic archive

• James Ryan and the Development of Independent Ireland, 1892-1970 
• Michael Loughman 
• Four Courts Press, €24.95