Posts in the "Taxation" category

Ireland has the lowest Tax Wedge in Europe

Posted on May 15, 2013 by Micheál Collins

The tax wedge measures the difference between the total labour costs to the employer (wages + employers PRSI) and the corresponding net take-home pay for an employee (gross wages - all income taxes and PRSI). It is generally reported as a percentage of total labour costs.

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Permanent link | Categories: Labour costsTaxation

Tax Revenue Stability and Corporation Tax

Posted on May 13, 2013 by Micheál Collins

One of the lessons of the recent economic collapse (I hope!) has been the importance of a stable tax base. Total stability is impossible for a small open economy like Ireland; we will always have swings in economic performance which will alter the volume of economic transactions and tax revenues. However, policy should aim to limit exposure to tax revenue instability as well as closely monitor those areas where revenues are unstable.

Despite these lessons, we pay limited attention to the stability of the corporate tax system - one of the four main areas of exchequer revenue. Based on the recent Department of Finance Stability Programme Update (April 2013) corporation tax revenues account for 11% of total taxation income.

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Permanent link | Categories: MacroeconomicsTaxation

Where do we go from here?

Posted on April 29, 2013 by Tom Healy

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

Public debate about matters of public concern in Ireland has been characterised in a number of ways. I suggest that the following traits may be stronger than elsewhere in the world and could reflect deep and enduring historical factors:

  1. There is a disproportionate emphasis on 'survival' with the consequence of a great focus on the short-term over the long-term;
  2. Intellectual discourse about values, evidence and philosophy is not given the space and priority it deserves (in short there is a certain anti-intellectualism); and
  3. Fatalism dominates the perceived choices and options.

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Permanent link | Categories: InequalityMacroeconomicsTaxation

Along comes Tobin: the arrival of an overdue Financial Transactions Tax (FTT)

Posted on January 23, 2013 by Micheál Collins

This week's decision at EU level to initiate formal steps towards the introduction of a financial transactions tax (FTT) is a long overdue and welcome step. While it is only 11 of the 27 member states who have signed up, the tax will now evolve under the enhanced co-operation mechanism. It is unfortunate that Ireland, alone among the countries hardest hit by the financial crisis, has decided not to adopt the tax - Spain, Italy, Portugal and Greece have all signed up. This is all the more ironic given the explicit banking link to Ireland's crisis.

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Permanent link | Categories: Taxation

Budget 2013 and onwards: choices and consequences

Posted on October 30, 2012 by Micheál Collins

The Society of Saint Vincent DePaul launched their pre-Budget document entitled 'The Human Face of Austerity' on Thursday October 25th. At the launch I spoke about the choices government have as they compile Budget 2013 and reflected on some of the context and consequences of these choices for workers and families in Ireland.

The SVP document, available on their website here, complements much of the research I am colleagues have been engaged with over the past few years on minimum living standards for Ireland. The NERI working paper on the Cost of Work provides a good overview of that research and its findings.

The slides from the seminar are here. The key points raised were:

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Permanent link | Categories: Government SpendingIncomeInequalityMacroeconomicsTaxation

The Government has a choice

Posted on September 25, 2012 by Tom Healy

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

Our research shows that Government has options this December. Instead of €3.5 billion in fiscal adjustment, we argue for €2.7 billion of which €2.3 billion are revenue measures aimed at high-income households. Aside from savings under the Croke Park agreement we do not see any value on grounds of fairness, macro-economic impact and budgetary savings in cutting yet further into education, health and social protection. Any savings from particular headings or sub-headings should be conserved and used to maintain and improve front-line services. We urgently need an investment stimulus starting with €500 million ‘off the books’ next year and a cancellation of a further cut in the public capital programme earmarked by Government for 2013. Our proposals which we refer to as Plan B would: - Leave the government deficit at the same level as planned and targeted by government - Employment 21,000 higher than under Plan A - Growth higher by 1.3% next year compared to baseline Department of Finance projections.Budget 2013 should be the first step in an alternative economic approach to change Ireland for the better.

Permanent link | Categories: Government SpendingJobsMacroeconomicsTaxation

Three-quarters of earners have incomes below €50,000

Posted on September 10, 2012 by Micheál Collins

Tax Case Distribution 2009

Despite its relevance to various public policy issues, information on the levels and distribution of earnings in the Republic of Ireland is limited. Over the next year the NERI plans to address this deficit with research examining incomes and earnings in Ireland based on data from the CSO's Survey on Income and Living Conditions, the National Employment Survey and the Earnings, Hours and Employment Costs Survey.

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Permanent link | Categories: IncomeInequalityTaxation

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