Fianna Fáil Press Office
Cllr John Lahart
16 February 2016
Fianna Fáil USC proposals are fair, affordable and deliverable – Lahart
Balanced reform will improve take home pay and simplify tax code
Fianna Fáil candidate for Dublin South-West Cllr John Lahart has described the party’s proposals in relation to the Universal Social Charge as the fairest being proposed by the main parties in the election campaign.
“Fianna Fáil is offering the centre ground alternative on income tax in this budget. Our proposals are realistic, balanced and deliverable in practice,” added Cllr Lahart.
“Our measures are fully affordable within the resources available over the next five years and will have the additional benefit of simplifying the income tax system which has become increasingly complicated in recent years.
“As the election enters its finals stages, the public are being offered a vast array of options in relation to income tax and the universal social charge. Fianna Fáil’s proposal is fair, affordable and deliverable. Fianna Fáil is committed to eliminating the USC for all income earners on the first €80,000 of their income over five years. In the first budget after the next election we would immediately abolish the 1% rate of USC that applies to income up to €12,012. This would be worth €120 a year to all USC taxpayers. We will also begin to reduce the 3% rate which applies on the next €6,600 of income. The cost of our full Universal Social Charge is €2.64bn which is one third of available resources. The benefit to anyone individual is capped in contrast to Fine Gael’s runway tax cut.”
He went on to point out a further benefit is that Fianna Fáil’s proposals will simplify the tax system which at present is highly complicated. “By removing 3 rates of USC we will achieve a significant reform of the way in which employment income is taxed.”