The Finance Minister says the upcoming budget will contain tax cuts but hasn’t confirmed what form they will take.
Minister Micheal McGrath was speaking in Cork yesterday where he outlined the importance of reducing the national debt and bolstering the country’s rainy day fund.
The Government's Summer Economic Statement outlining the direction of the budget will be published on Tuesday.
Speaking to RedFM News Minister McGrath says people on low and middle incomes as well as those above that will see a reduction in taxes:
"I know a lot of organisations are advocating against any changes to the income tax code, but we're to make no changes to your income tax system. As incomes rise, people pay more and more income tax and their effective rate of tax, the proportion of their income overall, that is paid and tax will increase. So in the same way, that making no change to social welfare, it wouldn't be acceptable. It shouldn't be acceptable that we make no change to our income tax system."
