Regional Development shelved as Fine Gael seek to narrow Tax base – Tóibín
Fine Gael’s plan to narrow the tax base in this state by binning USC for upper income earners will have the effect of shelving regional development according to Sinn Féin spokesperson Peadar Tóibín TD.
Speaking today the Meath West TD said;
“The over concentration of economic activity and population in Dublin is having significant negative effect on both Dublin and the rest of the state. Services and infrastructure in Dublin are under massive pressure. Property capacity both residential and commercial in Dublin is running out and is damagingly expensive. Services such as schools, water and health are becoming harder to access.
“In regional areas the opposite is the case. Depopulation, emigration and poverty stalks the land as opportunities are scarce. Balanced spatial development is good for Dublin and the rest of the state. It is also good for the economy as a whole.
“To rebalance spatially it is necessary for the government to disruptively invest. That means to invest in infrastructure not just to meet future demand but also to create future demand.
“This can only be done through investment. USC cuts for upper income earners is investment foregone. This is particularly damaging in this state because infrastructural investment is already on the floor. We are at the bottom rung of European investment.
“The Fine Gael decision will potentially lose the exchequer €5.6billion. This figure equates to 70% of all the proposed investment into Transport and Tourism infrastructure for the state for the next five years.
“This is the opportunity cost of Fine Gael’s cut for upper income earners. Yet again its seems for Fine Gael the Regions can wait.”