No income tax cuts for workers due to Brexit threat, warns Finance Minister Paschal Donohoe
INCOME tax cuts in next year’s budget have been ruled out by Finance Minister Paschal Donohoe.
Ministers have agreed that the Budget will be prepared on the assumption that we are heading for a disorderly Brexit.
"Given the uncertainty and lack of clarity regarding the timing and format that the UK's exit will take, preparing for a no-deal scenario is the most sensible approach," Mr Donohoe said.
As a result Mr Donohoe will have €700m for new tax initiatives and spending increases.
Mr Donohoe said there is “a case” for reducing income tax on middle income workers in order offset the impact of Brexit, but “I’m not going to do that”.
“A crucial policy response is to build up our capacity to respond to these challenges.Read more: Independent.ie
Cuts in income tax ruled out in Budget 2020 by Paschal DonohoeMinister for Finance has confirmed he will prepare the budget for a no-deal Brexit
Finance minister rules out personal tax cuts in Budget, says any welfare changes will be targetedFinance Minister Paschal Donohoe brought the proposal to the Government today.
Finance minister gets Cabinet approval to base Budget 2020 around a no-deal Brexit scenarioThe Government is set to deliver a range of budgetary measures on 8 October to the tune of €2.8 billion with some of that now being used to insulate against the fallout of a no-deal Brexit.
Paschal Donohue rules out Budget tax cuts in event of no-deal BrexitThe minister vowed to open his goodie bag in the New Year if the Brexit situation has settled
'Extending tax relief for GAA stars raises number of issues' - minister - Independent.ieFinance Minister Paschal Donohoe has said that extending a tax relief scheme for sportspersons here to GAA players 'would raise a number of issues and challenges'.
What we can expect in Budget 2020Budget 2020 will be a 'safe' and 'careful' with targeted supports to help counteract the impact of a no-deal Brexit Finance Minister Paschal Donohoe has said.