Dáil debates
Tuesday, 7 December 2010
FINANCIAL RESOLUTION No. 14: INCOME LEVY
9:00 am
Lucinda Creighton (Dublin South East, Fine Gael)
There is much confusion with regard to these measures. I refer to the example of income tax proposed on a single person with no children and taxed under schedule D with a gross income of €10,000 per year. The proposed income tax would amount to €230, with PRSI of €400. A person would lose €480 per year. The percentage change of net income is 5.3%, whereas for a person on €175,000 gross annual income it is as little as 0.9%. I find it very difficult to understand how the Minister could stand up earlier and inform the House that this is an equitable or fair budget, because it clearly targets low paid workers and there is no incentive for them to work on that basis.
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