SF: PD tax policies nothing more than 'failed Thatcherite thinking'

Sinn Féin’s Finance spokesperson Caoimhghín Ó Caoláin TD has warned voters that PD tax polices, being discussed at a PD meeting in Malahide today, would have drastic consequences for public services and social protections if they were implemented.

Describing the PD policymaking as nothing more than cutting and pasting "failed Thatcherite economic thinking", Deputy Ó Caoláin went on to say that "having seen what they can do in two terms of office, I shudder to think at the damage they could to with a third".

The Cavan-Monaghan TD said: “It is clear that far from a 'radical departure' the Progressive Democrats are bent on simply reheating the same policies of the last five years that have made this state one of the most unequal in the world, gutted state companies and institutionalised racism.

"Instead of new thinking, the PDs will today continue to simply cut and paste failed Thatcherite economic theories into Irish politics and call it policymaking. Having seen what they can do in two terms of office, I shudder to think what damage they could do with a third.

“It has been reported in the media that the Progressive Democrats are discussing proposals to reduce the top rate of tax to 40% and for the standard rate of 20% to apply to single people earning less than €50,000 or €100,000 for couples.

“Such changes would primarily benefit the better-off, would make the tax system even more regressive than it is at present, and would have drastic consequences for the provision of public services.

"The overwhelming majority of the people in this state rely on public services including a public health system, a public education system and a public transport system. These tax cuts would reduce the revenue available to government to provide essential public services, while also having the effect of further fuelling inflation increases."