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Financial Resolution No. 14: Capital Acquisitions Tax

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Financial Resolution No. 14: Capital Acquisitions Tax

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Financial Resolution No. 14: Capital Acquisitions Tax

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Paschal Donohoe

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Snippet Contents:

----which make a contribution to ensuring people who have wealth, which they have earned, will be taxed fairly and at a higher rate than was the case in the past. The parties on the Opposition side of the House talk repeatedly about the need to tax more. A measure is being put in place that will allow us to do that. It will ensure people who have a degree of wealth will be taxed fairly on it.
In commenting on the measures, I ask for a small degree of consistency in the contributions of the parties. In their pre-budget submissions they sought to maintain all the measures they attacked last year. They seem to ignore the fact that the standard rates of income tax, tax bands and tax credits are being maintained. Many of the social welfare payments on which people depend week after week are also being maintained. All of the measures are being put in place and other hard choices are being made to allow these things to happen. The financial resolutions that have been moved are part of that approach.