Sinn Fein - Adams confirms change in tax proposals -

[doheochai]

On RTE Radio One -

Gerry Adams confirms that Sinn Fein does not now propose to increase the corporation tax rate to 17.5%. Adams claim that there is no need to increase the tax rate and that Sinn Fein's policy is now to ensure the same rate for corporation tax exists over the whole island.

Adams further indicates that Sinn Fein will not impose a 50% tax rate on incomes over €100,000. Adams says that Sinn Fein will not increase the tax take on middle income earners.

Adams says that Sinn Fein will look to close tax loopholes and will not support the use of public money to build private hospitals.

Adams does not confirm that Sinn Fein will reduce the lower rate to 18% and the top rate to 40%.

Can Sinn Fein now claim that it has a tax policy that is any different from FF, FG, Labour and PD's?

[grassroots]

More U turns than a joyrider. SF policy is now to massively increase public spending by an unknown magic amount known only to the Ard Comhairle or the Army Council and to finance that without raising taxes on the middle classes, corporate sector or indeed anybody that might have a vote. Instead it the bill will be passed to some amorphous group of non taxcompliant millionaires who probably do not live here anyway. Johnny Magnier, JP, Dermo, Dinny O'Brien Sir Anthony and Slabb must be very afraid.

The Shinners are just a slightly dodgier version of Fianna Fail. If Adams proposed to finance his programme with a series of international bank robberies it wd have more coherence.

[cooperation]

Have not the EU got a policy on equalizing corpartion tax?

[Universal_001]

Have not the EU got a policy on equalizing corpartion tax?

No, many want to but we won't let them because at the moment offering low tax is all we have going for us (we'd better start getting something else)

The plan of SF to harmonise tax across the island is also going to be difficult as EU member states are not allowd (for some odd reason) vary tax rates within their territorys (it's another one of those 'when did we give them the power to say/do that?' moments)

Adams further indicates that Sinn Fein will not impose a 50% tax rate on incomes over €100,000. Adams says that Sinn Fein will not increase the tax take on middle income earners.

You erm...consider 100 000 middle income???

[cooperation]

As this could be policy from the EU. thay are consider the whole of europe, not just Ireland.
And EU policy/law is imposed on Ireland not a choice.

[Universal_001]

Tax policy requires unanimous consent, not a qualified majority like other areas.

[Catalpa]

Totally sloppy and unconvincing replys by Adams.

TBH I was surprised at the lack of hard detail in his responses and his media advisors had not briefed him better.

He kept on harping about 'super rich' types who he mistakenly thinks can be made to pay their fair share and thus solve the Health crises, the Housing crises etc...

While those people should indeed pay their fair share the money to be raised from them is just a drop in the ocean in terms of this State's budget.

Surely he realises that he's talking rubbish?

Cowen would eat him alive in a live TV debate on the Economy - that's after grilling him over the Barbie! :twisted:

Whose his economic advisor anyway -Segolene Royal?

[grassroots]

EU law allows you to have 1 corporate tax rate with the State. Anything else any you fall foul of the EU laws prohibiting illegal state subsidies. That is why the Bloodstock exemption had to go and why you cannot have a higher tax rate on one industry than another.

So haromising CT on an island wide basis requires a) a united Ireland b) the Brits to cut their rate to 12.5% or c) meet somwhere in the middle. None of these options is a runner in the next year or 5 years.

Having indigenous SME pay lower tax than multinationals is also impossible for reasons stated in the 1st papragraph.

Adams may also be surprised to find that some of the rich or high earners already pay most of the Income tax. We already have a progressive system.
Cutting out some loophooles woudl be a good idea. All parties except FF seem to ageree on it.

The more you look at it the more full of holes SF policy is. Moreover if any other party tried to avoid the issues on costing etc they wd be ridiculed.

[Johnny]

On RTE Radio One - Gerry Adams confirms that Sinn Fein does not now propose to increase the corporation tax rate to 17.5%. Adams claim that there is no need to increase the tax rate and that Sinn Fein's policy is now to ensure the same rate for corporation tax exists over the whole island.

Did I hear him correctly, when he said that the decision on not raising corporation tax to 17.5% was taken by the Ard Chomhairle after they had "thrashed around the issues" together?

Shouldn't such a significant change of policy normally go before an Ard Fheis?

[doheochai]

On RTE Radio One - Gerry Adams confirms that Sinn Fein does not now propose to increase the corporation tax rate to 17.5%. Adams claim that there is no need to increase the tax rate and that Sinn Fein's policy is now to ensure the same rate for corporation tax exists over the whole island.

Did I hear him correctly, when he said that the decision on not raising corporation tax to 17.5% was taken by the Ard Chomhairle after they had "thrashed around the issues" together?

Shouldn't such a significant change of policy normally go before an Ard Fheis?

You heard correct -

But don't be surprised - when the leadership get a whiff of going into coalition the last thing they are going to take notice of is the decisions of an Ard Fheis - The LP leadership has been ignoring the decisions of its own conference for decades.

And don't worry - if Sinn Fein are in a position to get into a coalition government - you can be damn sure the leadership will get that decision through the Ard Fheis as well! Mary Lou isn't along just for the ride you know.