Our Future- Labour’s Alternative Budget 2018

04 October 2017

The Labour Party has today unveiled its Alternative Budget plans for 2018, which prioritise investment in key public services over tax cuts.

The fully-costed proposals contained in Our Future focus on the critical areas of housing and health, as well as education and childcare.

Speaking ahead of the launch in Dublin, Labour Party leader Brendan Howlin TD said:

“The future facing our country today is very different than it was five years ago. Our economy has recovered, strong growth continues and unemployment is falling.

“But there are also many people around the country who are still hurting, and struggling to put food on the table for their families.

“With our country now at a crossroads, Labour’s Alternative Budget seeks to cut poverty, not taxes.

“We want to improve public services, build homes and hospitals, employ teachers and healthcare workers, and reduce the cost of living for our future Ireland.

“One of the most pressing issues facing us as a nation is the housing and homelessness crisis, and Labour’s Budget includes a fully costed plan to invest nearly one billion euro into building an extra five thousand public houses in 2018.

“In the key area of health, we are also committing to funding Sláintecare – a plan that must be delivered upon by Government.

“This document presents a vision for our future and shows that Budgets can be drawn up in a way that will promote decency, justice and equality in our society,” concluded Deputy Howlin.

Finance Spokesperson Joan Burton added:

“We must make the right choices to deliver better public services and provide desperately needed capital investment.

“It would be foolish to squander resources on unnecessary tax cuts at a time when vital needs must be competently addressed.

“Labour’s Alternative Budget will see no income tax hikes, but will raise a billion euro in revenue through targeted tax increases and raising revenue measures.

“Tax justice should be at the heart this.

“For example, we believe that our national banks should pay their fair share to fund public services, and are proposing to double the bank levy to €300 million.

“We also seek to raise up to €200 million through closing existing corporation tax loopholes, and end refundable R&D Tax Credits for those that don’t pay tax.

“The Government is known for finding money down the back of the sofa on the day of the Budget- particularly last year with €300m or more.

“It needs to come clean on whether it intends to expand the spending base year to cover further spending,” concluded Deputy Burton.

ENDS

Notes to Editors:

Labour’s Alternative Budget can be found here www.labour.ie/download/pdf/our_future_labours_alternative_budget_2018.pdf

 

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