James Fitzsimons: You're OK if you've got a €20m home
The proposed value-based property levy is not sustainable without a cut in income tax, says James Fitzsimons
If Enda Kenny and Eamon Gilmore were honest they would admit that they cannot deliver on their election promises. They don't have to say anything. We already know the answer.
It started when they failed to stand back from the impossible commitments that were given under the bank guarantee. They've retained the universal social charge (USC), which is income tax by another name.
Minister for the Environment Phil Hogan launched the controversial €100 household charge, as a forerunner to a value-based property tax that the troika is keen to have. The Minister for Public Spending and Reform bottled it when it came to cutting public-sector pay and pensions, even though the troika demanded that, too. The troika claims we cannot achieve what is expected of us without welfare cuts and higher income tax. And it is right. Enough is enough.