Saturday September 19, 2020

Property tax could take some pressure off income earners

We have been hit with a tough budget, but recovery won’t really begin until the worldwide credit crunch slows

11th April, 2009

The hole in the public finances is truly frightening. Having recorded budget surpluses in ten of the 11 years to 2007, a budget deficit of €12.7 billion was recorded last year. This was driven primarily by two factors, a decrease of €6.5million in tax revenue and an increase of €3.8 billion in current expenditure. The decrease in tax receipts was most heavily felt in what can be described as ‘transaction taxes’, ie taxes from the...

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