Sunday 25 September 2016

Renua's plans to end SME 'discrimination'

Published 11/08/2015 | 14:03

Renua leader Lucinda Creighton
Renua leader Lucinda Creighton

RENUA Ireland has published a package of measures aimed at ending 'discrimination' against small businesses and the self employed.

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The party is seeking the abolition of the higher rate of universal social charge for the self employed, and for self employed and small firm owners to enjoy the same tax credits as all PAYE workers.

Its policy "A better deal for SMEs and the self employed" also proposes allowing self employed to opt into PRSI so they can avail of supports and allowances should a business fail. Capital Gains Tax should also be reduced from 33 per cent to 20 per cent to allow people invest productively.

"SMEs are the real engine for economic growth and job creation in this country and our tax policies should recognise this fact. The current government has shown no genuine interest in ending the tax discrimination against indigenous business owners. It is time to give the self employed and SME owners a tax break and a better deal." Ms Creighton said.

She said the cost of extending tax credit would be  €290 million and removing the higher rate of USC would be 62 million.

Asked about reports that the government is to increase the Old Age Pension by €5 in the budget she said it was wrong to "dangle tiny amounts" to different sectors of society and she would prefer reasoned debate on the budget carve up instead.

Renua Wicklow TD Billy Timmins however indicated his opposition to a pension increase saying:"I would suspect there are a lot of old age pensioners who would prefer to put that money into childcare facilities so they won't have to look after their grandchildren."

He said the government is spending hundreds of thousands on focus groups research, some  which clearly shows they should concentrate on the "grey vote".

"Maybe we should put money in to the health service and getting housing up to scratch - or maybe money better for development of certain infrastructure projects instead" he said.

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