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Posts in the "Taxation" category

Tax Increases Since the Bailout: the facts

Posted on June 26, 2015 by Micheál Collins

The Taoiseach Enda Kenny, speaking in Brussels on Thursday, mentioned the following in the context of the ongoing negotiations regarding a debt/bailout deal for Greece:

“I pointed out at the EPP that in Ireland’s case we did not increase income tax; we did not increase VAT; we did not increase PRSI but we put up alternatives to those measures that were proposed in order to keep a pro-growth policy and to make our country competitive and to provide jobs for our people.”

His comments seem intent on highlighting the Irish-way of doing a bailout – but his memory of that bailout, including some of the adjustments that the Government he leads has delivered, is simply incorrect.

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Permanent link | Categories: Taxation

Reforming the EU Corporate Tax System

Posted on June 02, 2015 by Micheál Collins

Last week a delegation from the European Commission (the TAXE committee) visited Dublin as part of their work examining the structure of the EU corporate taxation system and the reforms it requires.

As somebody who researches various taxation issues, and as a former member of the Commission on Taxation, I was delighted to have an opportunity to meet the delegation. A summary of my remarks to the group are outlined in this blog. Overall, I made three points:

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Permanent link | Categories: Taxation

'These truths we hold to be self-evident...'

Posted on April 25, 2015 by Tom Healy

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

‘These things we hold to be self-evident …. ‘ is a line taken from the 1776 USA Declaration of Independence.  Given the emerging debate  - such as it is – in the Republic of Ireland on matters to do with taxation, social spending and related areas it would seem that the following ten canonical statements are universally believed in, rarely contested and frequently asserted:

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Permanent link | Categories: Government SpendingIncomeInequalityInvestmentJobsLabour costsMacroeconomicsTaxationWages

NERI Seminar: A Future Worth Working For

Posted on April 09, 2015 by Daragh McCarthy

Yesterday's seminar given by the Director of the NERI, Tom Healy, focused on setting the parameters for a clear, long-term vision for the Irish economy to emerge. The seminar is based on a recent working paper that argues this vision must be based on concrete goals that can be observed, measured and contrasted—as opposed to pious aspirations. The paper is not intended as a blueprint or model that is to be rolled out, but as a contribution to a debate on our economic future.

Over the course of the presentation, Dr Healy reviewed the key economic and social challenges facing the island of Ireland in the coming three decades and suggests an overarching framework to better understand:

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Permanent link | Categories: InequalityInvestmentJobsTaxationWages

From Strabane to Strangford Lough

Posted on March 07, 2015 by Tom Healy

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

Northern Ireland rests on a very precarious political balance involving internal community relations, external relationships, social well-being and economic progress. In terms of overall size of the economy, including public spending, it accounts for a relatively small slice of the total UK picture. Yet, as a regional economy and polity it is highly vulnerable to fiscal, political and economic trends not only in the UK as a whole but in Europe and the world.

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Permanent link | Categories: Government SpendingInvestmentNorthern Ireland Taxation

Government spending and revenue in the Republic of Ireland

Posted on February 26, 2015 by Tom McDonnell

Tom McDonnell profile

The NERI’s Quarterly Economic Facts contains a range of indicators on the public finances. One of these indicators compares levels of government revenue and public spending in the Republic of Ireland with that of other European Union economies. The basic method of comparison is to measure total government revenue and total public spending as percentages of GDP. Total general government revenue is largely obtained from taxes and social security contributions but also includes other receipts of public authorities. The largest items of public spending by function are social protection measures (mainly social transfers), followed by spending on health and then spending on education.

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Permanent link | Categories: Government SpendingMacroeconomicsTaxation

Wealth in Ireland – at last some robust data

Posted on February 18, 2015 by Micheál Collins

Despite its prominence in various public policy discussions over recent years, detailed information on wealth in Ireland has been sparse. For the most part discussion on the distribution of wealth, and concepts such as a wealth tax, were based on hunches and guestimates or assumptions that the wealth distribution must have in some way resembled the income distribution (at least as unequal and probably worse).

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Permanent link | Categories: IncomeInequalityTaxation

Work, Welfare, Taxes and Unemployment Traps

Posted on February 03, 2015 by Micheál Collins

QEF indicator 5.6

As the economic recovery takes root, there are welcome improvements in the levels of employment and continued decreases in unemployment. Looking across 2015, the latest NERI projections (December 2014) suggest employment growth of 2.1% this year with unemployment falling to 10.4%.

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Permanent link | Categories: GenderIncomeJobsLabour costsLiving wageTaxationWages

Did austerity work?

Posted on January 18, 2015 by Tom Healy

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

Fiscal austerity is the topic of a conference being held today in Dublin. The question is asked: did austerity work in Ireland? A key consideration is not what might have happened if the fiscal consolidation had not been done, but, if it had been done differently with no cuts to public capital investment, minimal cuts to current spending and significant increases to revenue especially that related to income from capital.

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Permanent link | Categories: Government SpendingMacroeconomicsTaxation

UK recovery still unbalanced and unstable

Posted on December 03, 2014 by Paul Mac Flynn

Paul

Chancellor George Osborne's Autumn Statement contained few new announcements and some decidedly grim long-term trends for the UK economy. There were further details given on pre-announced infrastructural spending on house building, roads and rail in addition to earmarked funding for established science and research. The chancellor also outlined a major reform to the way stamp duty is levied in the United Kingdom, removing the "cliff edge" that exists as the price of a property moves between established bands. While reform of this tax is welcome, it could be perceived as a further attempt to boost house prices and activity in teh market. It is estimated that the cost of this policy will be in the region of £800m annually. Air passenger duty was also reduced along with a continuing freeze in fuel duty. There were small uprates to the personal tax allowance and the higher rate band.

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Permanent link | Categories: Government SpendingMacroeconomicsNorthern Ireland TaxationWages

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