Fine Gael has proposed a package of €3.5bn in tax measures and cutbacks, as well as €333m in tax breaks to protect jobs in its pre-Budget submission.
Speaking at the launch this afternoon party leader Enda Kenny said the €3.5bn would be dominated by cutbacks and savings and he warned that it was not possible to tax any economy back to recovery.
Fine Gael wants to reduce the low rate of VAT from 13.5% to 10% for the next two years; commit to keep the current income tax rates unchanged; but would impose what it calls a ‘temporary solidarity tax’ on high incomes.
Party Finance spokesman Richard Bruton said their four-year plan would eliminate the structural deficit of around 7 to 8% by 2013.
Fine Gael is also looking to widespread reform of the public service to make substantial savings and restore balance to the national finances over the next five years.
