Sinn Féin Finance Spokesperson Pearse Doherty TD has said the government must recognise the state's over reliance on corporate tax receipts.
The call comes following news that, despite corporation tax receipts coming in €276 million ahead of target so far this year, overall tax receipts are €100m less than expected with underperformance in excise, VAT, and stamp duty.
“Incoherent Fine Gael and Fianna Fáil tax policies have placed our public services in a position of growing reliance on increasingly unstable corporate tax receipts.
“While it must be welcomed that these corporate taxes provide opportunities for investment, particularly as we're faced with acute shortage in housing, it should be a wake up call for government that a number of other key tax heads are under-performing.
“With a cost of living crisis burdening families and communities across the state, and Fine Gael’s policy imposing homelessness on almost 10,000 citizens, the government must urgently invest in our core public services.
“To do this, we need stable and dependable tax receipts. For years, government policy has been to bring further instability to our tax base, pledging to lower reliable taxes, while granting tax breaks to booming banks and onshored profits.
“In the coming Budget, Fine Gael and Fianna Fáil seem set to once again cut the ability of the government to meaningfully deal with the chaos they have brought to public services.
“The government must keep a close eye on these tax receipts as more becomes known. Now is not the time for reckless tax cuts, but for investment backed up a fair, stable, and progressive tax system, as proposed by Sinn Féin.”
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