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Thread: Sinn Féin's Pre-Budget Proposals

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    Politics.ie Member Kerrygold's Avatar
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    Default Sinn Féin's Pre-Budget Proposals

    Among Sinn Féin's pre-Budget proposals are:

    * standardizing discretionary tax reliefs, raising €1.1 billion;
    * introducing a 3rd tax rate of 48% on income over €100,000, raising €355 million;
    * placing a 1% wealth tax on assets over €1 million excluding farmland, raising €1.6 billion; and
    * capping all public service salaries at €100,000, raising €450 million.

    Here's a link to the statement and as soon as they put up the full document I'll post a link Sinn Féin offers ?fairer and viable alternative? to Government?s ?slash and burn approach? | Sinn Féin

    And can people please keep this discussion on the actual proposals!

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    Quote Originally Posted by Kerrygold View Post
    Among Sinn Féin's pre-Budget proposals are:

    * standardizing discretionary tax reliefs, raising €1.1 billion;
    * introducing a 3rd tax rate of 48% on income over €100,000, raising €355 million;
    * placing a 1% wealth tax on assets over €1 million excluding farmland, raising €1.6 billion; and
    * capping all public service salaries at €100,000, raising €450 million.

    Here's a link to the statement and as soon as they put up the full document I'll post a link Sinn Féin offers ?fairer and viable alternative? to Government?s ?slash and burn approach? | Sinn Féin

    And can people please keep this discussion on the actual proposals!
    * Standardising tax reliefs make sense, but could it really raise €1.1bn?
    * Third rate of tax is fair enough
    * I'd be for a wealth tax, but I'm disappointed that SF have run scared of the farming lobby
    * Capping PS salaries at 100k won't work. Would a hospital consultant really take a drop of something in exces of 150k? Also, if €100k is the max salary, just how many people will fall into the new third rate of tax?

  3. #3

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    Suggesting that all public service salaries are capped at €100k is the best way of closing down our public health system that I've ever seen. The consultants would simply go proivate or leave the country.

    And any farmer with a farm worth €1m can clearly afford to pay 1% levy.

    The only proposal of any merit is standardising discretionary tax reliefs. That is long overdue.
    Thank you for the six thousand likes.

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    Quote Originally Posted by Keith-M View Post
    And any farmer with a farm worth €1m can clearly afford to pay 1% levy.
    A farm worth €1m is probably about 100 acres. If he rented it out he'd get about 180 per acre per annum, thats 18,000. And he'd be expected to pay 10,000? Therefore having 8000 to live on? Thats why sinn fein are excluding them

    I'm not a farmer either.

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    Quote Originally Posted by lobby View Post
    A farm worth €1m is probably about 100 acres. If he rented it out he'd get about 180 per acre per annum, thats 18,000. And he'd be expected to pay 10,000? Therefore having 8000 to live on? Thats why sinn fein are excluding them
    They used to be well able to pay their rates until they weaseled out of them!

  6. #6

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    Quote Originally Posted by Kerrygold View Post
    * standardizing discretionary tax reliefs, raising €1.1 billion;
    So they are suggesting that in excess of €3.5 Billion is given in discretionary tax reliefs then ? Because if you given someone Tax relief of €1000 it means that the actual real cost is at their highest rate of tax paid.

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    Quote Originally Posted by redhead101 View Post
    They used to be well able to pay their rates until they weaseled out of them!
    The average farmer earns 18,000 Euro a year and most of that is subsidised.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    they should give the goverment the northen bank money if there so worried about the budget!!!! noone cares what the shinners say!!!!1

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    Sounds reasonable and good policies to me.

    And for that reason dont expect FF to adopt any of them.









    .

  10. #10

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    Quote Originally Posted by Kerrygold View Post
    Among Sinn Féin's pre-Budget proposals are:

    * standardizing discretionary tax reliefs, raising €1.1 billion;
    * introducing a 3rd tax rate of 48% on income over €100,000, raising €355 million;
    * placing a 1% wealth tax on assets over €1 million excluding farmland, raising €1.6 billion; and
    * capping all public service salaries at €100,000, raising €450 million.

    Here's a link to the statement and as soon as they put up the full document I'll post a link Sinn Féin offers ?fairer and viable alternative? to Government?s ?slash and burn approach? | Sinn Féin

    And can people please keep this discussion on the actual proposals!
    I look forward to seeing their actual proposal. But in the meantime the first thing that pops out at me is the Wealth Tax. How many assets are there in this country that are worth over 1 million Euro? And do these assets collective add up to 160 Billion Euro? How about raising corporation tax by 1% instead?

    Capping salaries isn't going to work. Top skilled professionals will emigrate. Increase taxes for professionals and public servant whose incomes are over 100,000 Euro

    To encourage enterprise, entrepreneurs should be treated like artists and be tax exempt.

    I'll wait and see their document, does anyone know when it is out?
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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