Tuesday 23 May 2017

A Sinn Fein finance minister will be forced to balance the books – just like anyone else

Sinn Fein leader Gerry Adams at the annual Sinn Fein Wolfe Tone commemoration in Kildare at the weekend.
Sinn Fein leader Gerry Adams at the annual Sinn Fein Wolfe Tone commemoration in Kildare at the weekend.

We need to start taking Sinn Fein's economic policies seriously, in a manner that reflects the party's size and its trajectory.

There's a good chance Sinn Fein will make up part of a future government. If it negotiates a programme for government, the party will have the mandate to push for some of the policies it has championed for some years now. Last week I looked at the proposed wealth tax – 1pc tax on net wealth in excess of €1m with exclusions for working farmland, business assets, 20pc of the family home and pension pots, amongst other things.

Estimates of the wealth tax bringing in €500m-€800m in a full tax year aren't yet fully costed and of course, with enough exemptions, the tax could end up being substantially reduced by people changing the composition of their portfolios to minimise their tax liability under any new wealth tax.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Don't Miss