Business Irish

Thursday 21 August 2014

Michael Noonan rules out income tax increase

Donal O’Donovan

Published 19/06/2013 | 10:10

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Finance Minister Michael Noonan

Finance Minister Michael Noonan again ruled out higher income tax.

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Mr Noonan told reporters in Dublin this morning that avoiding higher income tax rates can help competitiveness.

The FInance Minister said he will wait and see what his UK counterpart George Osborne says this evening on the future of Ulster Bank parent Royal Bank of Scotland.

Mr Noonan said that he didn’t raise Ulster Bank in a recent phone call with Mr Osborne. There are fears about the future of Ulster Bank following the resignation of chief executive Stephen Hester.

The UK chancellor of the exchequer is due to make a long-awaited speech on the future of RBS this evening.

Mr Noonan added that he expects Ecofin ministers to approve directive on sales tax avoidance when they meet tomorrow in Luxembourg.

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