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Value based property tax not the way forward – Doherty

26 August, 2012 - by Pearse Doherty TD


Responding to the government’s proposed value based property tax Sinn Féin Finance Spokesperson Pearse Doherty today said the best and most fair way forward is to introduce a wealth tax as it takes account of ability to pay.

Speaking today Deputy Doherty said:

“The value based property tax, as proposed by the government, does not take account of personal circumstances such as ability to pay or variations in value based on location.

“The Government has not mentioned any linking of their proposed tax with ability to pay or the taxes already paid on the property.

“Sinn Féin’s wealth tax is a more equitable proposal which links ability to pay with a percentage tax on all property, physical, material and financial, over €1 million. Our wealth tax allows 20% write-off of the value of the principal residence. It is estimated to bring in €800 million in a full year.

“I am calling on the government to abandon its plans for a property tax and seek negotiation with the Troika on the issue in the Memorandum of Understanding.

“In addition to this the Government must reverse the household charge, which is a flat tax that is being levied at households in anticipation of the introduction of a property tax and water charges.”

ENDS

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