Wednesday 23 May 2018

Leo Varadkar says he wants 'to give money back to those who created the wealth' in new proposed tax cuts

Taoiseach Leo Varadkar. Photo: Frank McGrath
Taoiseach Leo Varadkar. Photo: Frank McGrath Newsdesk Newsdesk

Taoiseach Leo Varadkar has said he plans to give "money back to those who created the wealth" in new proposed tax cuts in this year's budget.

Speaking on RTÉ Radio One, Taoiseach Leo Varadkar outlined new tax cuts ahead of October's budget.

"We don't produce money as a Government. We get money through taxation. When the Government reduce taxes it's not giving the Government more money, it's allowing you to keep more of the money that you earn.

"We are determined in this budget to do three things. The first thing is to balance the books. We need to keep Ireland secure in what is a risky and changing world. We want to find additional funding for public services, and infrastructure and that will be the big bulk of the funding."

Mr Varadkar said that the tax cuts can be implemented due to more people working and a better economic climate.

"The amount of revenue coming into the Government is increasing and we're going to give some of that back to the people who work very hard and created the wealth in the first place."

He added that because of Brexit, the Government have "little room to manoeuvre" but "the best response to uncertainty is to balance the books".

"We're going to balance the books for the first time in ten years. We will find some space to give a little bit of money back to the people who create the wealth."

Online Editors

Today's news headlines, directly to your inbox every morning.

Editor's Choice

Also in Irish News