Taxation and Pension Reform

Taxation We support a broadly progressive tax system and bands to protect workers from inflation and avoid taxation by stealth. We would:

  • Structure corporate tax reliefs and capital allowances in such a way that Research and Development, employment-generating activities, socially responsible activities, and sustainable and environmentally friendly activities are rewarded.
  • Reduce both VAT rates by 3%.
  • Phase out VRT over 5 years, scrap motor tax and replace with a fuel surcharge.
  • Clamp down on corporate tax evasion by clamping down on tax loopholes and corporate financial reporting.
  • Hold accountancy firms accountable with respect to the economic welfare of the nation.
  • Pay for energy transition and fuel poverty with a windfall tax on the unearned profits of the fossil fuel companies to provide a safety net for those in fuel poverty and to help finance the country’s transition to clean energy.
  • Reappraise pension fund allocation to manage future energy supply risks and build resilience by investing in asset-backed energy infrastructure in Ireland.
  • Fís Nua supports the Campaign Against the Household and Water Taxes and the boycott of the Septic Tank registration.

Basic Income Our aim is to introduce a basic income for all. Basic Income guarantees an income to each individual irrespective of personal circumstances. The Basic Income payment is tax free and all other income is taxed. The basic income amount should be sufficient so that everyone can afford food and shelter and other daily needs. Pensions Abolish tax relief for private pensions and establish a task force to look at pension provision. National Pension Entitlements We would retain the retirement age at 65 years, and abolish the practice of pension entitlement for all State pensions before age 65, including those of TDs and Senior Civil Servants. Similarly, all State employees, including Politicians, would only qualify for one pension – at the highest level of their achievement – multiple pensions would be abolished. ‹‹‹ Back to Manifesto Political Reform ›››