Dáil debates

Wednesday, 15 October 2008

Financial Resolution No. 15: (General) Resumed

 

11:00 am

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)

The Opposition parties imposed a 26% charge when they were in government, whereas we are asking for a 1% levy at these difficult times. The system we propose will ensure that those on high incomes will pay the levy on their gross income and cannot shelter that income from the levy. That is progressive — as one earns more, one pays more. If we were to increase tax rates, for example, by adding 1% to the standard band and 2% to the higher band, we would not accrue the volume of money required, or achieve the outcome the levy will achieve.

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