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Committee on Budgetary Oversight: Report on Indexation of the Taxation and Social Protection System: Discussion (17 Apr 2024)

...at a rate of 5.9%. Employment is not necessarily a route out of poverty. There needs to be serious reform of our economy in order to address that and ultimately bring in a living wage. Finally, I echo what has been said. There is ultimately a choice. Do we begin with tax? Do we ask about the most that the Government is willing to tax and then divvy it up and, if it is not enough,...

Committee on Budgetary Oversight: Report on Indexation of the Taxation and Social Protection System: Discussion (17 Apr 2024)

Mr. John McGeady: To echo what Dr. McDonnell said, again, the key thing is that the great advantage of indexation is that once we have reached the benchmark, which takes a bit of work, after that, we are only ever incrementing with wages increases or earnings increases, which are what they are, but it is not a huge jump. What it does is take the mountains and valleys out of the system....