Cowen’s budget sets out to reward workers with an increase in tax credits, and a widening of the tax bands.
- Title Brian Cowen Delivers His Third Budget
- 1st Broadcast 06/12/2006
- ContributorDavid Davin Power (Reporter)
Brian Dobson (Newsreader)
Sharon Ní Bheoláin (Newsreader)
- Clip Duration 00:04:14
- Material Type Video
- Series title RTÉ News
- Clip title Income Redistribution or Electioneering?
- Extended description
This is Brian Cowen’s third budget and the last before next year’s election. In his opening statement, Minister for Finance, Brian Cowen attributed the success of the Irish economy to the hard work of the Irish people.
Cowen’s budget sets out to reward this effort with an increase in tax credits, and a widening of the tax bands. Economic buoyancy enabled Cowen to reduce the top rate of tax from 42% to 41%, with a promise of a further reduction to 40% the following year if the coalition government is returned to office.
The budget also marked the achievement of the promise made by Fianna Fáil to increase the old-age pension to €200. Furthermore, with a €20 increase in the weekly rate of unemployment benefit, Mr. Cowen described the budget as the biggest support package for those on low incomes in the history of the state.
Was this an exercise in income redistribution or a cynical electioneering? While the budget was warmly welcomed by government back-benchers, opposition parties anticipated these cheers turning to tears. Joan Burton, the Labour Party finance spokesperson, said, “When Fianna Fáil see an election around the corner, their first instinct is to buy it”.
A RTÉ News report by David Davin-Power. This report is introduced by RTÉ Newsreaders, Brian Dobson and Sharon Ní Bheoláin.
- Local keywords Memorable Budgets, 2007, Budget, Brian Cowen
- Geographical coverage Ireland
- Topic Politics and Economics
- Publisher Broadcaster RTÉ
- First broadcast channel RTÉ One
- Production year 2006
- Country of production Ireland
- Original identifier BN06/340
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- Item type part/extract
- Item colour Colour
- Item sound Mono
- Aspect ratio 16:9 (widescreen)
- Language used English (eng)
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