Ibec welcomes right budget
Ibec, the group that represents Irish business, has described Budget 2016 as the right budget for the country, at the right time. It said USC reductions will reduce the marginal tax rate below the psychologically important 50%, and said the reduction in capital gains tax and a new self-employed tax credit make it the best budget for entrepreneurs in a decade. It's a pro-business, pro-jobs budget.
Ibec's South East Regional Director, John Farrell said: 'The budget is right for the economy at this time and signals a new phase of economic development. The crisis is behind us and we are planning ahead. The Government has taken on board the concerns of business, reduced the marginal tax rate and encouraged private investment.'
'The USC cut will reduce the marginal tax rate below 50%. It is still very high, but we are moving in the right direction. No worker, no matter what they earn, should pay over half their marginal income in tax. A reduced rate will make it more attractive to take a job, accept a promotion and do overtime.'