Martin says the govt is considering cutting the USC in the budget – TheLiberal.ie – Our News, Your Views

Martin says the govt is considering cutting the USC in the budget




Tánaiste Michael Martin confirmed the government was examining possible cuts to the public welfare levy, reports RTE.

Mr Martin said the move is “under consideration,” though he added there are limits to what can be done in this budget.

It is understood that Fianna Fáil is pushing for the measure to affect all earners, particularly those on lower incomes.

A universal social charge was introduced in December 2010, at the height of the financial crisis.

This applies to all earnings of those whose gross income exceeds 13,000 euros

Fine Gael’s priority on income tax is to push for more growth where people pay higher rates of tax.

It will benefit middle and high-income people.

Sources from both parties have indicated that both measures are being considered in the budget and both are possible within the parameters set out in the summer economic bill, reports RTE.

Tax thresholds and allowances are expected to rise again as promised in the program for the government.

Mr Martin’s comments were reported by the Business Post.

A final decision is yet to be taken ahead of the current year’s budget to be held on October 10, reports RTE.

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