Local Minister says tax reform means more money in people’s pockets

by Rebecca Ryan

[vc_row][vc_column width=”2/3″][vc_column_text]Local Minister Josepha Madigan has said that tax changes due to come into effect in the new year will mean “real savings” for people and families.

She said that over the last five years families have made significant savings thanks to her party’s programme of income tax reform.

“Fine Gael in Government has sought to bring about a fair, progressive and sustainable budget which will benefit people in Dublin Rathdown.

“This year’s reductions in PAYE and USC are a continuation of a programme of tax reform implemented by Fine Gael since the economic crash.

“We have long argued that workers enter the higher rate of income tax at too low a level of income and we know that families deserve sustainable wages.”

Minister Madigan said that the positive changes to people’s take-home pay have been significant over the last five years.

“A single person working in the private sector with no children who is earning the average wage, will find themselves with €1,334 more in their take home pay than they did five years ago. This is an 18% decrease in their income tax and USC.

“A married couple with two children, taking in a single income of €55,000, will have €2,934 extra in their take home pay than they did five years ago. This represents 20% of a reduction in their income tax and USC.

“Meanwhile a self-employed person with no children earning €35,000 will have €2,684 in their take home pay over and above what they had five years ago. This is a 30% reduction in their income tax and USC.”

She added that her party has worked towards tax equalisation for self-employed people who were unfairly treated in the past.

“The self-employed will also become eligible for jobseeker’s benefit in the final quarter of 2018 for the very first time.”[/vc_column_text][/vc_column][vc_column width=”1/3″][/vc_column][/vc_row]

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