Politics

Proposed 30% income tax rate would only benefit 35% of workers, according to state analysis

Fine Gael has pushed the case for a new third rate of income tax, which would sit between the lowest income tax rate of 20% and the higher rate of 40%

Finance Minister Paschal Donohoe’s budget has been brought forward from its traditional date in the second week of October to Tuesday September 27 due a desire in government to address the cost of living crisis. Picture: Rollingnews.ie

A new 30 per cent rate of income tax for middle income earners would only benefit 35 per cent of workers, according to the state’s tax strategy group.

Fine Gael has been heavily pushing the case for a new third rate of income tax of 30 per cent, which would sit between the lowest income tax rate of 20 per cent and the higher rate of 40 per cent.

The Tax Strategy Group, which is ...