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Business spooked by Sinn Féin's high-tax 'brain drain' proposals

Richard Curran


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Sinn Fein housing spokesperson Eoin O Broin, finance spokesperson Pearse Doherty, Sinn Fein president Mary Lou McDonald and candidate for Dun Laoghaire, Shane O Brien during the launch of the party’s general election 2020 manifesto

Sinn Fein housing spokesperson Eoin O Broin, finance spokesperson Pearse Doherty, Sinn Fein president Mary Lou McDonald and candidate for Dun Laoghaire, Shane O Brien during the launch of the party’s general election 2020 manifesto

Collins Dublin, Gareth Chaney

Sinn Fein housing spokesperson Eoin O Broin, finance spokesperson Pearse Doherty, Sinn Fein president Mary Lou McDonald and candidate for Dun Laoghaire, Shane O Brien during the launch of the party’s general election 2020 manifesto

Businesspeople are worried about a possible brain drain from the country if Sinn Féin ends up in coalition following yesterday's election. Various policy proposals in the party's election manifesto spooked business organisations such as IBEC, especially when it comes to an additional 5pc levy on incomes over €140,000.

Equally, Sinn Féin is talking about solving the health crisis by hiring more nurses, doctors and hospital consultants. Surely, given there are lots of unfilled consultant places, jacking up the income tax rate on high earners would make it even more difficult to attract suitably qualified people?

Bear in mind consultants are paid so much that a €250,000-a-year salary was described back in the boom as 'Mickey Mouse money'. Professionals like accountants, lawyers, computer programmers and those in the medical field could all be hit.