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Budget surplus shouldn't fund tax breaks says local Minister

May 24, 2023 13:58 By Shannonside News
Budget surplus shouldn't fund tax breaks says local Minister
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Finance Minister McGrath says ideas might have been floated, but the final tax package will come down to him and Minister Paschal Donohoe:

A Longford/Westmeath TD insists the budget surplus from tax receipts should not be used to fund tax breaks.

Earlier this week Minister Peter Burke along two Fine Gael colleagues called for tax relief to go further than in the previous two budgets.

The local deputy wants to see a 1000 euro tax break for middle income earners in the Budget this October.

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Speaking to the Joe Finnegan Show Minster Burke says tax receipts that may be temporary should not be used to fund ongoing expenditure.

''The surplus should not be used to fund short term taxation measures because the critical thing we need to do with the surplus that's once off in nature, we need to increase the amount of money we're putting into the strategic reserve fund and that fund is specially designed for when the economy endures a shock.''

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