Sinn Féin’s American paymasters are right to be wary – they would wreck the recovery and deter investment – Murphy

Fine Gael TD for Dublin Bay South, Eoghan Murphy, has said that the misgivings raised by Sinn Féin’s American business benefactors about its high tax policies is clear proof that Sinn Féin in Government would deter jobs and investment into Ireland.

“Today’s revelations provide a startling insight into how Sinn Féin’s is supported by a golden circle of American property developers. If Sinn Féin’s high tax economics frighten the Party’s supporters in corporate America, imagine what the rest of the American business community thinks.

“Ireland has benefitted hugely from the jobs provided by American and international businesses. Sinn Féin in Government would deter US and international investment in Ireland and limit Ireland’s ability to attract jobs and investment into the country.

“Sinn Féin has sold a romantic view of a united Ireland to its US benefactors to raise money for its political operation. However it is perfectly apparent that Sinn Féin’s anti-business policies and self-proclaimed status as a Socialist Republican Party does not sit easily with its American benefactors.

“Sinn Féin’s American friends are right to be reluctant about their economic policies. Their most recent alternative budget proposed €1.6 billion in new taxes on work, enterprise and entrepreneurship. They would introduce a new third rate of income tax, leaving a total top tax rate of 60%, while their proposal to increase employers PRSI is literally a tax on jobs.  A wealth tax will result in money, investment and jobs leaving the country and would hinder our ability to attract investment and jobs including from America.

“Sinn Féin also voted against the recent tax cuts in the Finance Bill which has eased the burden on low and middle income earners. Their alternative budget has a €7 billion black hole in its their figures because their alternative budgets have double, triple and even quadruple counted the same savings year after year (eg. 48% rate of income tax). Sinn Féin’s policies would attack low and middle income earners. In Sinn Féin’s world, people earning over €32,800 are high earners.

“If the people bankrolling Sinn Féin are nervous about its high tax approach, I have no doubt that the prospect of a Sinn Féin government would actively deter businesses from investing in Ireland and creating jobs here.”

ENDS