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Sinn Féin’s mismanagement of finances and tax hikes will short-change us all – Carroll MacNeill

14th January 2024 - Jennifer Carroll MacNeill, TD

The mismanagement of our public finances and future tax hikes by Sinn Féin will short-change everyone and leave us facing an employment crisis, Fine Gael Minister Jennifer Carroll MacNeill has said.


Following fresh warnings of Sinn Féin tax increases from leading business figures including the IDA Chairman Feargal O’Rourke this weekend, Minister Carroll MacNeill said increases on personal tax rates will have serious implications for all in this country.


“Mary Lou McDonald and Pearse Doherty have finally agreed that our corporate tax structure, as carefully managed by successive Fine Gael Ministers, is the best approach and part of the new OECD (Organisation for Economic Co-operation and Development) structure.


“The OECD works to stimulate international trade and economic progress – something an insular Sinn Féin are slowly starting to realise,” Minister Carroll MacNeill said.


“But what Mary Lou McDonald or Pearse Doherty don’t realise is that senior figures in multinational companies, that are deciding to bring or keep those companies here and employ thousands of people across the island, pay tax in a system which is one of the most progressive in the OECD.


“Personal tax comes up in my IDA and business meetings abroad with companies whom we are hoping will expand or invest in jobs in Ireland. It is already an issue which is why Fine Gael advocates reducing personal tax rates across the board to make Ireland more competitive in a very tight labour market. It is one of many reasons Fine Gael rebalanced it as recent budgets have proven.


“Sinn Féin will do the complete opposite to Fine Gael. To make their fantasy Budget balance, they will:


  • put up personal tax rates and will tax people more
  • will worsen personal tax credits
  • increase employers PRSI which is a tax on jobs
  • increase tax on SME’s


“Sinn Féin will make Ireland less competitive, harder to attract jobs and keep existing jobs. They will cripple the domestic economy and innovation; home grown companies will find harder to hire people and the knock on effects to all industries will be frightening.


“Sinn Fein are pulling the wool over someone’s eyes – either telling themselves and their supporters their policies will work while also promising radical change and at the same time, telling businesses and corporate decision makes, there will be no change whatsoever.


“They are populists who are reckless and irresponsible and play every side of the argument with no clear vision and ultimately stand for nothing.”


“Fine Gael in Government knows the importance of investing in enterprise and supporting businesses in order to grow our economy to pay for vital infrastructure and services for communities across the country.


“Fine Gael are intent on putting more money back in your pockets, money that Sinn Féin want to take back out.


“Ireland’s society is going to look different in the next five to ten years as our demographics change and people live longer, so it is essential that we have a responsible Government who will plan for future shocks.


“We could have acted recklessly as Sinn Féin would have done and spent our budget surpluses immediately, but we didn’t. Had we done what Sinn Féin wanted by emptying the State coffers, we would be in a far more precarious position.


“Instead, Fine Gael has put in years of work to foster conditions for employment growth, high value employment growth, with a record 2.66 million people now at work, over 100,000 more than last year according to the CSO Labour Force Survey.


“Fine Gael’s approach has worked. Sinn Féin would threaten it all,” Minister Carroll MacNeill concluded.

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