Limit rises says IBEC
BUSINESS lobby group IBEC has called on the Government to limit tax increases in the upcoming Budget to €600m.
In its pre-Budget submission, the group said that there needs to be a focus on the cuts recommended by the McCarthy report.
Senior economist with Ibec Fergal O'Brien said that a 6pc downward adjustment in PAYE tax credits would generate the equivalent of about €6 per week per worker.
And the organisation supported a property tax, which could raise about €1bn annually and is the least damaging to the economy.
In Budget 2011, it recommends doubling of the tax on second homes, which would raise an initial €80m.