USC to be cut as part of €11bn budget package
Cutting the controversial charge has emerged as the preferred taxation option as Michael McGrath prepares to deliver Fianna Fáil’s first budget in 13 years in the finance portfolio
The government is planning to deliver the most significant cut to the controversial Universal Social Charge since its introduction, and increase the entry point to the higher rate of tax, as part of an expected €11 billion budget package next month.
Cutting the USC has emerged as the preferred taxation option within the coalition as Michael McGrath prepares to deliver Fianna Fáil’s first budget in 13 years in the finance portfolio.
Tánaiste Micheál Martin has this weekend confirmed that cuts to the USC are “under consideration” and six ministers from across the coalition, speaking to the Business Post, have backed the proposal.