Take average earner out of top tax net: ESRI

THE average industrial worker, earning €28,050 a year, should be taken out of the top tax net following a major boost in economic growth this year, the Government’s economic think-tank recommended yesterday.

Over 50% of all taxpayers now pay the top rate of 42c in the euro after the Government’s failure to index tax bands and increase credits in the last two Budgets.

But the Economic and Social Research Institute (ESRI) revealed yesterday a major improvement in growth in the first quarter of 2004 with GDP expected to average 4.6% this year and 5.2% next year.