Oireachtas Joint and Select Committees

Thursday, 23 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael) | Oireachtas source

Okay. If I could move on, please. The '07 Labour manifesto proposed a 2% cut in the basic rate of income tax. One of the criticisms here had been the narrowing of the tax base. Would the 2% on the basic rate ... would have cost a lot of money, I don't have a figure, but the fact that it was on the basic rate, it would have been billions. Would this commitment not have further eroded the tax base? And what policy did Labour Party have to broaden the tax base to provide more stable revenues for Government? And that's for both please, I'll start with Mr. Rabbitte.

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