Seanad debates
Tuesday, 25 March 2003
Finance Bill 2003 [ Certified Money Bill ] : Second Stage.
Even in the present economic circumstances, the income tax package has been targeted towards the elderly and those in the lower income tax bracket. I welcome the decision to increase the income tax exemption limits for those aged 65 years and over. This year, the increase in the limits is over 15%. When account is taken of the changes last year, the combined increase amounts to almost 40%. I am, therefore, astonished at the begrudging concession by a few Members in the other House at the extension of this benefit to our senior citizens. I do not know on what basis they make their criticisms, especially in view of the need for equity and fairness in the system. It is only fair that recognition should be given to the contribution made by senior citizens to the economic and social life of the country throughout their working lives.
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