Fine Gael tax U-turn to hit voters earning €100k

Those earning in excess of €100,000 will be hit by a “wealth tax” of 5% under controversial plans proposed by Finance Minister Michael Noonan.

Mr Noonan’s planned levy would be introduced in conjunction with the abolition of the “hated and socially divisive” universal social charge (USC), he said.

Fine Gael is also seeking to make workers begin paying PRSI on all incomes above €13,000, down from the current level of €18,000.