Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I oppose section 3. I disagree completely with reducing the top rate of income tax from 41% to 40% at this time. This is not the right time to do it. I have just given a list of priorities where this money should be spent. I do not for one moment underestimate that those who are in this cohort who would benefit from this proposal are under financial pressure but the Government must consider the priorities. I suggest that dealing with homelessness, disadvantage, the social housing crisis, the burden seven austerity budgets have put on individuals and the burden our public health and education systems are under are areas far more beneficial to our consideration than reducing the 41% tax rate at this time. The closer one is to the €70,000 threshold, the more one will benefit from it. The figures provided indicate that the 41% tax rate will cost the State about €225 million, which is nearly €0.25 billion. That measure alone in a full year when combined with the standard rate band accounts for €405 million; it is 40% of the entire budgetary spend when account is taken of a full-year effect, or 30% in terms of a partial-year effect. There are far more pressing areas of need. The Minister has heard them all from Social Justice Ireland and the Society of St. Vincent de Paul, whose members are the people dealing with them at the coalface. New food parcel facilities are being opened all the time in my constituency in Donegal and across the area. This is not where the focus should be at this time. I strongly oppose this part of this measure.