Rabbitte cannot rule out new taxes on wealthy

LABOUR leader Pat Rabbitte yesterday refused to rule out additional taxes on the wealthy to ensure a fairer spread of the tax burden.

Speaking at the Labour Party's two-day conference in Clonmel, Mr Rabbitte said Labour in government would not raise personal income tax rates.

Mr Rabbitte also said that he was not in favour of raising corporation tax since he believed that "as an instrument of industrial policy it has conferred some advantage on Ireland and that's very important in terms of investment here".