The Prime Minister said that there will be tax cuts and welfare packages in the next budget
DUBLIN – Prime Minister Leo Varadkar has stated that cuts in corporate tax revenue will have no impact on the government’s welfare programmes. Speaking at the Bloomberg New Economy Gateway conference in Wicklow, the Prime Minister said there is no doubt that the next budget will include tax cuts and welfare packages. According to the Prime Minister, the government will raise anti-austerity funds.
Varadkar stated that the welfare package will be announced to assist pensioners and those receiving social welfare benefits who have been hard hit by rising living costs. The government will also increase its investment in capital infrastructure.
It is clear that the government’s revenue will decrease. Varadkar, on the other hand, stated that it would not be the same as when his party came to power in 2011. He will not reduce pensions or other social welfare benefits, nor will he raise income taxes. Investments will not be reduced. The Prime Minister also stated that energy support would not be withdrawn immediately. The Prime Minister said that attention will be given to areas like child care.
Varadkar stated that the country’s debt is too high, at 250 billion euros. This, according to Varadkar, cannot be ignored and must be reduced.
The Prime Minister stated that, while inflation is decreasing, prices are not. It is not logical to increase salaries as the cost of living increases. But the government cannot increase taxes, Varadkar said.
The Prime Minister stated that the next UK government will have a positive relationship with the European Union. In response to a question about Brexit, the Prime Minister stated that the door is still open. Michael McGrath, Finance Minister, also attended the Gateway conference.
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