Tom Maguire: Much-vaunted stimulus package doesn’t go far enough

A dramatic drop in the capital gains tax rate could lead to a huge influx of revenue

We were asked to shut down our economy, so we need a quid pro quo whereby we ask, not what business can do for tax, but what tax can do for business. Picture: Getty

I’ve been writing in this column about tax measures required to escape the current Jurassic economy for some time now. Last week saw the publication of the Financial Provisions (Covid-19) (No. 2) Bill 2020 (Covid Bill). This contains the draft law behind the tax bits of the July stimulus package. However, business had asked for more than what it currently says. The Rolling Stones famously sang that “you can’t always get what ...