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News Link • TAXES: Federal

Irish Central Bank: Raise Taxes Now


The Governor of the Central Bank, Dr. Patrick Honohan, said that Irish people will have to pay more tax to help fill the gap in the public finances. "On the tax situation, I fully agree with [EU economics commissioner] Olli Rehn," Dr. Honohan told an audience of bankers at the International Institute of Finance in Washington. He had just explained that the tax-to-GDP ratio in Ireland must increase. "There is no credible way of correcting the public finances that doesn't require a higher tax ratio," he said. However, he believed people jumped too quickly to the conclusion that Mr. Rehn advocates higher corporate tax in Ireland. "I think such a policy is very far from being present," Dr. Honohan said. "The Government have made their position on corporation profits tax very clear. – Irish Times

Dominant Social Theme: The Irish will pay and pay. It's good for them.

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