Policy Briefing on Budget Choices 2014 sets out a fully-costed set of proposals.

Social Justice Ireland Policy Briefing on Budget Choices 2014 sets out a fully-costed set of proposals.

BUDGET 2014 should end cuts, meet borrowing target and introduce a minimum corporate tax rate, while protecting the working poor.’

It argues that:

• There should be no more cuts in expenditure in Budget 2014.
• A minimum effective corporate tax rate (6%) should be introduced.
• Tax credits and welfare rates should rise by €5 a week.
• Budget 2014 should provide a major investment programme and protect public services.
• All of this can be done while reducing borrowing by €3.1bn in 2014.

New Approach – Key proposals

Social Justice Ireland believes there should be no more expenditure cuts in Budget 2014. It is long past the time Government realised austerity is not working for Ireland. A new approach is needed. As part of such a new approach, no corporation should pay less than 6% of its profits in tax.  In its latest Policy Briefing Social Justice Ireland sets out a series of fully-costed proposals for Budget 2014, proposing:

1. No more cuts in expenditure (except where they flow from reforms and don’t damage the social infrastructure).
2. A reduction in borrowing of €3.1bn in 2014 as agreed with the ‘troika’.
3. A minimum effective corporation tax rate of 6% (i.e. no corporation would pay less than 6% of their profits in corporation tax).
4. A Financial Transactions Tax of 0.01%.
5. A universal state pension.
6. An increase of €5 a week in the PAYE tax credit and in the basic social welfare rates.
7. A capital programme focused on developing physical and social infrastructure.
8. Elimination of the fuel dyeing process for agricultural and industrial diesel.
9. 21 further initiatives covering a wide range of policy areas.

In the Briefing, entitled ‘Budget Choices’, Social Justice Ireland outlines how all of its proposals can be financed while reducing borrowing by €3.1bn in 2014. 

All the costings are based on Government calculations and reliable research.

Document can be downloaded here