The black economy - A dodge we can’t afford

EDUCATION Minister Ruairi Quinn’s assertion that raising income taxes will drive more people into the black economy rather than raising Exchequer revenues has an unfortunate ring of truth about it.

Which of us has not been asked whether we intended to pay for a service by cash or by cheque? Which of us has not been tempted to take the cheaper option?

Mr Quinn’s remarks were made in the context of troika assessments of our commitments made under the terms of our bailout which, in time, may lead to increases in income tax.