Wednesday, 3rd June 2015
Positive Exchequer Returns Mean Government Must Look at Tax Cuts in Budget 2016
North Kildare Chamber has today (03/06/15) welcomed the positive Exchequer Returns for May and called on Government to look at cutting taxes to improve net pay for all workers and to reduce pressure on employers that cannot afford pay increases.
Speaking today, Allan Shine, Chief Executive of the Chamber in Kildare said, “The Exchequer Returns so far this year have been positive with steady increases in overall tax take. These figures, combined with the ongoing reduction in unemployment numbers, demonstrate that Government do have capacity to introduce a number of focused tax reductions.”
“We recognise the need to be prudent with October’s budget but we can now afford to look at meaningful reductions to high rates of income tax and USC which have the added advantage of supporting our competitiveness”. It is vital that capital investment is also prioritised. We need to keep up with the pace of our recovery and ensure that the necessary infrastructure is in place to support and sustain our economic growth.”
Capital investment is vital to support a sustainable future. Our infrastructure needs must be met in tandem with our economic development. With historically low interest rates and the availability of European funding, now is the time to invest in our future.
High on our agenda is the immediate requirement for Government to release the funding required for the Sallins Bypass, Osberstown Interchange and M7 Naas to Newbridge Bypass Upgrade. Shine concluded by saying, “ This is the second busiest road in the Country after the M50. We now urge central government to address this issue immediately.