herald

Sunday 20 April 2014

Mansion tax won't ease Budget fear

THE bulk of Budget 2013 appears to have been agreed upon, but not without some serious tension between the Coalition partners.

Much of this has centred on Labour's proposal to raise the universal social charge for high earners, against Fine Gael's push for a 3pc cut in social welfare payments.

The argument over the two issues was reportedly the most divisive issue since the Government was formed, and was only settled last weekend.

A compromise, of sorts, appears to have been reached by way of a so-called 'mansion tax', an increased property tax on residences worth more than €1m.

The success of this move remains to be seen, as an accurate figure does not exist at present for the number of such homes.

The issue is something of a smokescreen for ordinary families, however, who remain in fear of the cumulative financial hit coming their way on Wednesday.

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