January 3, 2020
Additional Tax should not be used to fund current expenditure – Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty TD has said the additional tax for the state to be reported in today’s Exchequer returns is welcome, however he repeated concerns that increased the Corporation Tax should not be used to fund current expenditure.

Teachta Doherty said:

“The extra tax due to the State is welcome, but there is an obvious danger in relying on this bonanza Corporation Tax to fund current spending; which the government has done up to now.

“The Corporation Tax surge is an unreliable phenomenon that should not be used to fill holes in the Government’s own budget, but instead to invest in the economy.

“The logical thing to do – in the face of an unprecedented crises in health and housing – is to divert any windfall into capital investment while it is coming in and use this money to build homes, and to invest to build capacity in our public health system to address the challenges we face.

“The reality is that today’s surplus will be of no comfort to the 4,000 children and families who woke in emergency accommodation on Christmas Day, or to the thousands of people who have been forced to languish on trollies in hospital corridors over the Christmas period.”

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