How to spend €11bn wisely - Ger Brady
It was a pleasure to be joined by Dan O’Brien of the IIEA and Mary Minihan of The Irish Times on “Business at the Ballot Box” to look at the economic and fiscal environment facing the next Government. We didn’t agree on everything but there was common consensus that it would have a limited pool of resources, that the debate thus far had failed to reflect that, and that trade-offs between various challenges facing the next government would be difficult.
So what do we need to do?
1. Convene a new Commission on Taxation to ensure that our tax system is sustainable. This Commission should bring coherence and underpin competitiveness of the taxation of corporations, property and the environment whilst incentivising indigenous business and ensuring fairness of the personal tax regime;
2. Support indigenous business through meaningful reform of Capital Gains Tax (CGT) for entrepreneurs and the Employment Incentive and Investment Scheme (EIIS) and ensuring that business can take full advantage of the benefits of employee share options;
3. Respond to the challenges of global tax reform by providing certainty on the 12.5% corporate tax rate, improving innovation supports and introducing accelerated capital allowances for investments in advanced manufacturing technology;
4. Ringfence overruns in corporation tax revenues for spending on non-tax elements of the business model such as infrastructure, innovation, education, and quality of life.
To hear the full episode, please click below: