Sinn Féin’s nonsensical tax policies would cost jobs and destroy this country – Harris

“Sinn Féin’s nonsensical tax policies would cost jobs and destroy this country,” says Simon Harris, Fine Gael TD for Wicklow/ East Carlow and Minister of State at the Department of Finance.

“At the turn of the new year I said that Sinn Féin’s only resolution for 2015 was to wreck the economy. Now it seems we must ‘beware the Ides of March’ as this week’s full moon appears to have had an effect on Sinn Féin’s Ard Fheis, where Gerry Adams proposed nonsensical taxes on work and made a plethora of uncosted promises.

“Sinn Féin propose a significant increase to the top rate of income tax which would seriously endanger foreign direct investment in this country and put jobs at risk. 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. Contrast this with the Government’s plan to reduce the tax burden on middle Ireland and create employment. We cannot throw away the progress this country has made on a party whose policies would see us back to the days of jobs losses and longer dole queues.

“Sinn Féin’s promise to abolish the Local Property Tax, water charges, and change the USC would cost an estimated €4.25 billion, the equivalent of a massive 19% tax hike or 70% tax rate for working people earning over €33,800. They have a €550 million hole in their plans in relation to Irish Water. Their proposal to abolish property tax and pay for it by increasing income tax would cost 4,000 jobs. It is no surprise that even their own US business backers are expressing concern at their economic policies as reported in the Irish Times this week.

“Sinn Féin’s policies represent a very serious threat to the Irish economic recovery, which is well underway. Their most recent alternative budget proposed a whopping €1.6 billion in new taxes on work, enterprise and entrepreneurship. The Irish people have made sacrifices to turn this country around and the Government’s prudent budgetary management has been crucial to this. Over 90,000 additional jobs have been created since the Government’s Action Plan for Jobs was launched and the Live Register has been cut by one third. The recovery is not complete however and is still fragile. We must not waste the hard work that has brought us back to a place of stability and growth.

“The Government has a plan to continue reducing taxes in a sustainable way, ensuring that everyone has a little more in their pocket. Already we are seeing signs of a retail recovery with strong VAT returns in January. The plan now, with the Regional Enterprise Strategy for example, is to ensure that people all across Ireland feel the benefits of the recovery. Let’s stay the course on the road to growth and prosperity and be wary of throwing away the strong progress we have made.”