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McGrath promises ‘substantial’ income tax package in budget

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Michael-Mcgrath News

Budget

Minister for Finance says workers are likely to benefit from further changes to income tax system and a fall-off in headline inflation

Mr McGrath said he expected the package to include further changes to tax credits and USC bands and another lifting of the entry point at which workers pay the top rate of income tax. Photograph: Leah Farrell / © RollingNews.ie

“I expect to be in a position to deliver a further substantial income tax package in October which will again include changes to tax credits, the standard rate cut off point and the USC,” Mr McGrath told the event. In his address, Mr McGrath also noted that Irish households would enjoy an improvement in living standards this year as real income growth outstrips inflation.

Mr McGrath said his department was predicting the Irish economy would grow by just under 2 per cent this year in terms of modified domestic demand and by a further 2.25 per cent next year.

 

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