SF proposed one per cent wealth tax

There is an alternative, costed, economic proposal that is fairer than those of previous years which the Government would do well to study and take heed of.

This is the view of Galway Senator Trevor Ó Clochartaigh who this week handed a copy of Sinn Féin’s pre-Budget submission to Labour TD Derek Nolan’s constituency office.

Sinn Féin’s pre-Budget submission proposes a budget adjustment of €3.5 billion and advocate the introduction of a one per cent wealth tax on net wealth in excess of €1 million to exclude business assets, working farms, pension pots, and 20 per cent of the family home.

It also proposes a third rate of tax of 48 per cent on those incomes above €100,000 and a cut to the salaries of all Oireachtas representatives.

“We must get it into the heads of our local government representatives that a fairer way is possible and that they have the ability and sovereignty to make decisions in the interests of the majority,” said Sen Ó Clochartaigh. “Austerity policies have crippled this State, and individuals and families have been left devastated. Budget 2013 can be used as an opportunity to make the right choices; the ball now rests in the Government’s court. ”

 

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