Fiscal priorities

Labour will negotiate an ambitious but prudent medium term fiscal plan (MTP) under the revised EU fiscal framework to support and improve public services over the next five years and make the critical capital investment our country needs. Read our Economic Framework Plan here.

Our priorities include:

• Broaden the tax base with increased taxes on wealth, not income.
• Index tax credits and bands, and social welfare rates to a basket measure of inflation and wage growth to protect against increases in the cost of living.
• Review the National Development Plan and profile increased capital investment up to 2030 in particular on housing, retrofitting, health, and public transport.
• Return the USC to a Health Contribution ringfenced for future health spending and avoid narrowing of the tax base.
• Support indigenous SMEs to foster the next generation of global winners and ensure access to sufficient finance and capital.

Wisely investing the Apple Tax monies

Over the next five years Labour will seek to direct the windfall funds from the Apple Tax case as follows:

€7bn for housing

• €6bn to seed a State Construction Company developed through the Land Development Agency.
• €1bn to support water infrastructure and servicing of land.

€6bn for climate measures:

• €2.5bn for a National Retrofitting Plan to support street by street upgrades, and energy efficiency upgrades in the public and community sector, SMEs, apartments, and Approved Housing Bodies.
• €2.5bn for major public transport projects and balanced regional development.
• €1bn for the state to take direct equity stakes in offshore wind developments.

€1bn for Health to create a Sláintecare Transition Fund.

• €500m to be dedicated to support the rollout of digital health records in the new Regional Health areas.