Finance Bill is final chapter of a regressive, unfair Budget – McGrath

Published on: 08 February 2012

Fianna Fáil Spokesperson on Finance Michael McGrath TD has described the Finance Bill published today as the final chapter of a regressive and deeply unfair budget which has hit low and middle income families the hardest.

Deputy McGrath said: “There are welcome measures within the Bill, including the enhancements to the R&D tax credit regime and the measures to support the financial services sector. However, overall, the Bill lacks ambition and has a distinct lack of creative thinking.

“The increased mortgage interest relief will be welcomed by some mortgage holders who bought between 2004 and 2008 but does nothing to help people who bought their homes before or after this time and who may now be out of work and experiencing severe financial hardship. In addition, the decision to cut the mortgage interest supplement paid to those who really need the help was unjustifiable.

“Fianna Fáil will examine the bill in detail over the coming days and will engage constructively in the debate in the Oireachtas over the coming weeks. We will bring forward amendments which we believe can make the bill fairer and have a more positive impact on the domestic economy.” 

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