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2 September 2012 Edition

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Property Tax alternative

“Sinn Féin’s Wealth Tax is a more equitable proposal which links ability to pay with a percentage tax on all property, physical, material and financial, over €1million.

WHERE ARE the Labour Party voices about their coalition government’s plans for a new value-based Property Tax to be imposed on house owners regardless of ability to pay?

What have Labour TDs — particularly Labour’s self-styled ‘Left’ TDs — to say on it?

A Property Tax will be introduced next year. Fine Gael ministers have made that clear (the only thing they are clear about) but not what form it will take.

Speculation about what form that Property Tax will take is creating anxiety for hard-pressed families. In all likelihood the Government will introduce a Property Tax based on the value of a property and, critically, will not take into account a householder’s ability to pay. This is neither fair nor progressive and will put increased pressure on people current barely able to pay their bills.

Instead of the new Property Tax, Sinn Féin is arguing for a Wealth Tax as being a fairer alternative.

Sinn Féin Finance spokesperson Pearse TD says:

“Sinn Féin’s Wealth Tax is a more equitable proposal which links ability to pay with a percentage tax on all property, physical, material and financial, over €1million.

“Our Wealth Tax allows 20% write-off of the value of the principal residence. It is estimated to bring in €800million in a full year.”

So there is an alternative to the Property Tax. It is fair and progressive. Why won’t the Fine Gael/Labour Government implement a Wealth Tax?

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