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Withdrawal of property tax proposal welcomed

9 July, 2010

Sinn Féin Finance Spokesperson Arthur Morgan has welcomed the news today that the Government will not include a property tax in this year’s budget. Deputy Morgan said a flat rate universal property tax would unfairly punish struggling families who are already hit with a range of direct and indirect regressive taxes and duties by this Government.

Speaking today Deputy Morgan said:

“I welcome the fact that the Government has backed down from this proposal. This was a dangerous proposal that, rather than fixing the economy, had the potential to contract it to the point of depression. It would have severely cut the disposable income of thousands of families doing untold harm to consumer confidence.

“A flat rate, universal property tax would have unfairly punished struggling families who are already being hit with a range of direct and indirect regressive taxes and duties such a consumption taxes and the pension levy.

“Many have been hit with pay cuts and those unfortunate enough to lose their jobs have been hit with cuts to social welfare payments as this Government continually targets the least well off to pay for the bail out of bankers and developers.

“The Government’s property tax proposal was both economically dangerous and despicably unfair. I welcome its removal from the table.

“Sinn Féin is the only party which has put forward a stimulus programme aimed at lifting this state out of recession without targeting the vulnerable, who did not cause this crisis. We are the only party at this point in time presenting a clear vision for an alternative economy that does not rely on either regressive taxation measures or D4 economists’ cuts.” ENDS

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