Anti-austerity body unveils €15bn stimulus plan
The nationwide body, set up in 2010 to combat the political culture of austerity, proposes the creation of thousands of jobs through a five-year investment programme financed in part from public, private and EU resources, and a wealth tax.
It advocates a substantial increase in taxes on Ireland’s richest residents, arguing there is scope for this as the country has the fourth-lowest tax take as a percentage of GDP in the EU.
“Our aim should be to raise this to the EU average,” states the Claiming Our Future proposal. “Taxes on wealth are minimal and Irish households hold €45bn in shares and foreign property. Taxes and charges should be progressive and — unlike flat taxes — fall harder on highest income earners.”
The plan supports a financial transaction tax, saying this would generate in the region of €500m a year in tax revenue.
Proposals also include increasing public expenditure to the EU average of 45% of GDP to ensure high quality and accessible public services.
Called Plan B, the proposal also outlines plans for retraining and upskilling schemes targeted at the long-term unemployed and youth as well as further investment in education, research, and development.
It says additional revenue could be raised from taxation on high-income groups, capital and property, unproductive activity, and extending the tax base.
“For example, standardising tax breaks and reliefs could yield €1bn per annum, a 48% tax on incomes of more than €100,000 — €410m per annum and a 0.01% financial transaction tax — €500m per annum.”
At the launch, Claiming Our Future spokesman Rory Hearne said: “We have reached crisis point. The budget is looming and if we want to avoid further devastation now is the time to act.
“Unemployment is at historic high levels and a generation of young people are facing years of dole queues and forced emigration. This is a situation we are not prepared to accept.
“We have been led to believe by the powers that be that we have no choice. This is simply not true. We have the capacity within our existing resources to change direction. It is about how resources are used and distributed that really matters.”
His view was echoed by Mary Murphy of NUI Maynooth, who said it was morally and economically wrong to pursue an approach which was not only making recovery less likely but was forcing vulnerable individuals and families to bear the disproportionate burden of cuts and pain.
“Leadership is key and Claiming Our Future is standing up for a society that is just and fair, a society that uses its available resources responsibly and a society where people have an income that allows them live with dignity,” she said.
“We want the Irish public including those who have been forced to leave this country to know that there are options for recovery.”
