Super rich gain – poorest pay

Minister Lenihan must explain scandal of company directors earning €500,000 gaining €7,700 in Budget while the lowest paid workers lose up to €,2000

Minister Lenihan must explain scandal of company directors earning €500,000 gaining €7,700 in Budget while the lowest paid workers lose up to €,2000

The bombshell discovery by tax consultant, Ciarán O Feinneadha as reported in Raidio na Gaeltachta yesterday, that Tuesday’s dudget benefits self employed and most company directors to the amount of an incredible €7,700 while workers on the minimum wage could lose up to €2,000 beggars belief. Minister for Finance Brian Lenihan must make a public statement immediately. This makes a mockery of his claim that this was a ‘fair’ Budget.

As a result of the introduction of the merging of the health and Incomes levies into the Universal Social Charge changes, the self employed and company directors begin to benefit increasingly from an income of about €250,000 per year. Ciarán O Feinneadha subsequently has informed me that by his calculations someone with an income of €1 million would benefit to the tune of €22,698!

This makes a mockery of Minister Lenihan’s claim that those who earn more would be hit hardest in the budget. This is just one more reason to repudiate this budget and to intensify the struggle against it and the savage general programme of austerity.

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