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Finance Minister gets tax take projections wrong, again!
2 December, 2008
Responding to Exchequer figures released this afternoon which show a
further decline in tax take showing an €7.5 billion deficit and a €1
billion shortfall to date in the government's projected figures for 2008
Sinn Féin Economic Spokesperson Arthur Morgan TD has described the
governments management of the economic as 'clueless'.
Deputy Morgan said:
"The public finances are in free fall and the government is getting it
wrong at every turn. If Finance Minister Brian Lenihan is incapable of
correctly projecting income and expenditure how can the Irish people
have any confidence that the government can deliver a roadmap for
economic recovery? November is an important month for tax revenue as the
coffers benefit from self assessment tax as well as the bulk of the
year's capital gains and corporation tax takes.
"It is nearly two months since Budget 2009 was announced and we still
have no idea how the government intends pulling the economy out of
recession. They have not delivered a plan for job creation. They have
yet to tell us how they intend to stimulate the economy. Instead they
have implemented short term cuts that will have long term devastating
effects on education and health.
"They have penalised low to middle working families with increased
public services charges and the 1% income levy. They are strangling the
retail industry particularly small border county businesses by
increasing VAT to 21.5% at the same time as the British Chancellor has
reduced the VAT rate in the north to 15%. Sinn Féin was the only
political party to advocate a 2% reduction in VAT in advance of the
Budget 2009 announcement by government in October. This was just one of
my party's proposals that we believe government needs to look if it
serious about stimulating the economy.
"Fianna Fáil had no idea how to efficiently and effectively manage the
economy in the good times with it's policy of over reliance on
consumption and construction and it clearly has no idea how to get us
out of the bad times. It is time for the government to step away from
it's slash and burn approach to the states budget, revisit its decision
to make Brian Lenihan Minister for Finance and to once and for all
outline its roadmap for getting the country out of recession whilst
ensuring public services are protected." ENDS
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