Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

We do not have a flow of migrants into Ireland to avail of lower personal tax rates because we do not have lower personal tax rates than the rest of Europe. We have very high marginal rates of tax in Ireland. The marginal tax rate for employees, if the universal social charge and PRSI are included, is now 52%. It has increased from 43.5% in 2008. The top marginal rate for self-assessed individuals is 55%. The top marginal rate is also being applied to much lower incomes. For example, the top marginal rate of tax for employees in 2008 was 43.5%. It took effect at income levels over €101,100. In 2012, the top marginal rate of tax is 52% and it takes effect at income levels of €32,800. Is it any wonder that a flood of high-skilled individuals are not coming in? We are not saying we have low marginal tax rates. We are saying we do not want them to rise any higher because we will drive people out. That is the point.

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