Seanad debates

Wednesday, 3 December 2003

Order of Business. - Budget Statement: Motion.

 

The most hard-bitten socialist could not find anything to criticise in the progressive tax tables included in this budget. All benefits are concentrated on lower and lower-middle income groups. Those on the minimum wage will benefit. It can be argued perfectly validly that the higher tax band has not been shifted and that those who are better-off will have to wait a little longer. I do not doubt that changes will be made in that regard in future budgets as economic conditions improve. The correct priority has been chosen in the present circumstances. The increases in indirect taxes are fairly minimal. The impact of indirect tax increases on the CPI will be approximately half of that of last year. It is projected that the inflation rate will be 2.5%, which will bring us back into line with Europe.

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