Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Principles that were articulated in opposition are forgotten around the table of power.

Fianna Fáil believes the Minister had some scope to increase the direct taxation burden on those with very high incomes. This would have given him a wider set of choices in deciding his spending priorities.

The Minister, in a highly regressive move, abolished the PRSI exemption threshold in a move that will cost every worker earning anything above the minimum wage €264 per annum.

This will be seen for what it is, an increase in income tax through the back door, and it will fool no one. The promise not to increase income tax has been broken by default today.

This change is designed to have the greatest impact on low and middle income families. For example, a worker earning €20,000 will pay €264 per annum while it will cost a worker earning €200,000 per annum the very same €264 per annum. As a proportion of their income, it will the person on €20,000 ten times more than it will cost the person on €200,000 per annum.

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