Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank the Minister for his answer but it is unclear so I will reiterate my question. A clear commitment was given by the Taoiseach in front of all the television cameras, although I am not sure if he discussed it with the Minister before making it to the people watching at home. The commitment is clear and it is to increase the threshold to €50,000 within five years. It would mean that what the Minister did in last year's budget would need to significantly accelerated each year over the next five years. As has been pointed out, this would equate to approximately €2.5 billion of tax forgone to the State when we all know there is much pressure on public services, housing, health areas like home care packages and the cost of childcare and insurance, etc. There is no doubt that tax cuts would benefit some people but there are other pressures. In addition, the Irish Fiscal Advisory Council has indicated that between €3 billion and €6 billion cannot be relied on and it is above economic activity in the State in the medium term. A serious plan has been made out on the climate change agenda with no costing but it will no doubt require a serious investment in the next and every other budget if we are to meet targets.

Will the Minister indicate if the commitment is as clear as the Taoiseach outlined to increase the threshold to €50,000 within five years? For a married couple the threshold would be up to €100,000. Does the Minister believe it is affordable and we can give those kinds of tax cuts?

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