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Posts in the "Taxation" category

Context for Budget 2019: A Long-run Focus

Posted on September 17, 2018 by Tom McDonnell

Publication cover - Context for Budget 2019_Long_Run_Focus - Cover image for Context for Budget 2019_Long_Run_Focus
Cover image for Context for Budget 2019_Long_Run_Focus

This presentation gives the NERI perspective along with some facts and figures in advance of Budget 2019.

Permanent link | Categories: InequalityMacroeconomicsTaxation

A Household net wealth tax for the Republic of Ireland.

Posted on August 07, 2018 by Tom McDonnell

Scrooge McDuck

Is a wealth tax on net households assets worth over €1 million feasible? Is it desirable? I discuss these issues in the latest NERI inBrief which can be found here. Many of the core principles for net wealth tax design are outlined in an earlier NERI/TASC Working Paper which can be found here.

The main 'takeaway' is that introducing such a tax in the Republic of Ireland is more than feasible and a wealth tax with a household threshold of €1 million would yield at least €250 million for the exchequer annually and probably significantly more. A well-designed wealth tax would affect just 1% to 2% of households.

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Permanent link | Categories: InequalityTaxationIncome

UK Spring Budget. The calm before the storm

Posted on March 08, 2017 by Paul Mac Flynn

In what will be the UK's last Spring Budget, earlier today Philip Hammond gave what could only be described as a lacklustre financial statement to the House of Commons. There were moves to increase funding for Social Care and a small reversal of the increases to Business rates in England. At UK level, there as an increase in National Insurance for the self-employed but also an increase in tax thresholds with the higher rate threshold moving up to £50,000. The increases in the thresholds will benefit higher income tax payers more than modest gains for lower earners. For Northern Ireland, specifically, there was an increase of £120m in block grant spending over the next three years with £90m for day to day spending and £30m for capital projects. To put that in context £90 is 0.9% of Northern Ireland's current day to day resource spending. The block grant is set to fall by £184m in real terms by next year alone and to fall by over 5% by 2020. Whilst any new funding is welcome, austerity will continue to be the economic narrative in Northern Ireland for many years to come.

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Permanent link | Categories: Government SpendingNorthern Ireland Taxation

An Irish Wealth Tax

Posted on December 21, 2016 by Tom McDonnell

Scrooge McDuck

2017 promises to be a year of change with Brexit and Trumponomics gathering pace with diffcult to predict outcomes. One thing remaining constant is that the fiscal space available for Budget 2018 will remain tight and that discretion for current and capital spending increases and tax cuts will be limited. The fiscal council estimate that the carry-over cost of measures introduced in Budget 2017 is €650 million and that this will absorb over half of the estimated €1.2 billion of fiscal space in 2018. This at a time when the population is growing and spending on areas like housing, productive infrastructure, R&D and third level education are already low by European standards.

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Permanent link | Categories: InequalityTaxation

Slides from NERI Post Budget Seminar - October, 2016

Posted on October 25, 2016

Slides from the NERI Post Budget Seminar held in the INTO Learning Centre, 38 Parnell Square, Dublin 1 on Wednesday 19th October.  The presentations were delivered by Eamon Murphy, Social Justice Ireland, Dr Mary P Murphy, NUI Maynooth and Michael Taft, Unite the Union.

Above presentation by Eamon Murphy, Social Justice Ireland.

Above presentation by Dr Mary P Murphy, NUI Maynooth.

Above presentation by Michael Taft, Unite the Union

Permanent link | Categories: TaxationWages

The Summer of Big Numbers

Posted on September 15, 2016 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

And what a summer it has been. It was the summer of the ‘big numbers’. There was €13 billion in claimed back tax from Apple. There was an undisclosed large sum of money possibly running into billions in relation to vulture fund tax avoidance planning (referred to as ‘Section 110’ tax).  The ultimate big number was €40 billion in GDP that we didn’t realise we had in 2015 but now have thanks to an extraordinary statistical revision made by the Central Statistics Office in June (compare here and there). Yet, the pre-budget debate has been dominated by much smaller numbers like the €1 billion in ‘fiscal space’ or the €100's of millions in debated spending or revenue measures in the draft Budget 2017 to be unveiled next month.

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Permanent link | Categories: Taxation

Slides from NERI Seminar on The Tax & Benefits System from a Lifetime Perspective

Posted on July 14, 2016 by Louisa O'Brien

Barra Roantree presentation

Slides from yesterday's NERI Seminar on the Tax & Benefits System from a Lifetime Perspective delivered by Barra Roantree, IFS, London. 

Permanent link | Categories: Taxation

Fiscal Space: A Short Primer

Posted on June 23, 2016 by Tom McDonnell

Government Buildings - Budgeting for the future
Budgeting for the future

The parameters for Budget 2017 are set by the requirements of the preventive arm of the Stability and Growth Pact (SGP). The preventive arm is assessed under two main pillars. These are the Structural Balance Rule and the Expenditure Benchmark Rule.

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Permanent link | Categories: Government SpendingInvestmentMacroeconomicsTaxation

UK Budget 2016 - Ominous Revisions

Posted on March 16, 2016 by Paul Mac Flynn

Today's statement in the House of Commons marked George Osborne's eighth budget in just under six years as Chancellor. Whilst there were many eye-catching policies such as a tax on sugary drinks and reforms to ISAs, they could not distract from some major revisions to UK economic growth. The Office for Budget Responsibility cut their forecast of UK GDP growth in 2016/17 to 2%, down from 2.4% outlined last November. GDP forecasts are cut further by an average of 0.3% out to 2020, putting significant strain on the Chancellors commitments on the public finances.

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Permanent link | Categories: Government SpendingMacroeconomicsNorthern Ireland Taxation

Slides from Seminar on tax shifting and ‘harmful taxes’

Posted on March 10, 2016 by Louisa O'Brien

P Sweeney NERI seminar

Click here for the slides from the NERI seminar delivered by Paul Sweeney (TASC) on 9th March 2016.

The seminar was based on a recent publication by the European Trade Union Institute (ETUI) which is available here external link .

Permanent link | Categories: Taxation

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