Dáil debates
Wednesday, 15 October 2008
Financial Resolution No. 15: (General) Resumed
11:00 am
Brian 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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