At the party’s Árd Fheis in Dublin today, Fianna Fail’s Finance spokesman Michael McGrath is expected to outline the party’s plans to abolish the Universal Social Charge “in the long term” and reduce it in the short term.
Ahead of the speech, he said: “We recognise the Universal Social Charge is a tax which was brought in at a time of emergency. People don’t get any extra benefit from it. It is just another form of income tax, and to be frank it is a detested tax.”
He did stress that the complete abolition of the USC would be a long-term goal, but that the amount paid by taxpayers could be gradually reduced.
As part of Fianna Fail’s proposed taxation policy, he explained that reducing the tax burden through reducing USC, rather than moving bands and thresholds for the PAYE rates would be a much fairer solution than Fine Gael and Labour proposals, which, according to him, will benefit higher earners.