NOONAN TAX

Noonan: Need to raise the point at which people hit the top tax rate

The Minister for Finance says it is a priority of his to raise the point at which people hit the top rate of income tax.

Michael Noonan has signalled that income tax may be cut for certain groups in the next budget.

He says personal taxes can become a tax on jobs and he believes this is one of the reasons people who are working in Ireland decide to emigrate.

“I see adjustments and cuts in income tax – not as a giveaway, not as some kind of a return to auction politics – but as using a vital instrument of policy to create more jobs” he said.

“There’s no doubt that personal taxes on the bottom line can become a tax on jobs” he added.

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