Income tax rates will stay the same: Labour

The Labour Party has promised that if it is returned to Government it will not raise income tax rates, echoing the pre-election promise of Fine Gael.

However, Labour’s spokesman for finance, Deputy Derek McDowell, says his party’s ambitious election pledges will require new sources of revenue.

Mr McDowell said that several years ago these policies could have been completed with the resource the current Government had available to it but he now believes that new sources will have to be discovered.