Micheál Martin
Question:98. Deputy Micheál Martin asked the Minister for Finance if tax cuts have been discussed at his latest meeting with the social partners; and if he will make a statement on the matter. [10349/14]
View answerTuesday, 8 April 2014
Questions (98)
Written answers
In advance of Budget 2014, I met, along with Minister Howlin, a number of representative organisations including IBEC, ICTU, the IFA, the ICMSA, the Construction Industry Federation and the Community and Voluntary Pillar. During these meetings, a broad range of issues were discussed including their tax proposals, which I considered in the context of Budget 2014.
In January of this year, I met with IBEC, during which a broad range of topics were discussed, including the economy and general tax policy. In addition, I also delivered a speech and took part in a Q&A session to the IFA executive board, in which general tax policy in relation to the farming sector was discussed.
As the Deputy will be aware, we have to deliver a general government deficit of less than 3% in 2015 to exit the Excessive Deficit Procedure (EDP). This will require further consolidation, including the introduction of revenue raising measures in Budget 2015. Once out of the EDP, Ireland will have to meet its obligations under the preventative arm of the Stability and Growth Pact.
The key objective is to achieve our Medium Term Budgetary Objective (MTO) of a balanced budget in structural terms in 2018. Until we reach our MTO, discretionary revenue reductions have to be offset by other revenue increases or expenditure reductions. Within these constraints, I will continue to work with my Department, as I have done in each of the last 3 years, to reform the taxation system to enhance economic growth and increase employment. This will include reviewing and reforming, where appropriate, tax expenditures in the form of reliefs and incentives.