Budget 2023

Lucinda Creighton: Government should avoid tax taskforce’s hare-brained schemes at all costs

The Commission on Taxation is arguably recommending that families, small businesses and farmers be taxed and levied into extinction. Its proposals should be treated as a checklist of measures to be avoided in Budget 2023

Paschal O’Donohoe, the Minister for Finance, has an unenviable task in formulating the next budget. Picture: Fergal Phillips

As the date for Budget 2023 looms, the economic and political circumstances could not be more challenging. Inflation in Ireland was ahead of the already worryingly high EU average, at 9.1 per cent in July. A global energy crisis, exacerbated by Russia’s war in Ukraine, has caused the state’s main electricity provider to hike its rates for the fifth time since the beginning of 2021, while the security of supply remains uncertain. The housing crisis ...