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MINISTER FOR FINANCE Michael Noonan has admitted that his proposal to raise VAT by two per cent in the forthcoming Budget – which will raise VAT from 21 to 23 per cent – did not account for any impact on consumer demand.
In response to a parliamentary question tabled by Fianna Fáil’s finance spokesman Michael McGrath, Noonan said his estimates – which said the proposal could raise an extra €670m – did not allow for the fact that it could lead to lower sales.
Details of the VAT proposal first emerged last week when news broke of secret Budget proposals being circulated to German MPs – documents which have since been released by the Department of Finance.
Those plans outlined how the government wanted to bring forward the 1 per cent increases already agreed for 2013 and 2014 – instead bringing in both in time for 2012, as part of its plans to raise €1.6bn in new taxes.
McGrath said Noonan’s declaration was “quite incredible”.
“If you speak with retailers in any town, village or city in Ireland, they will tell you that a 2 per cent increase in VAT will lead to less consumer demand.
“In the border county areas, retailers are adamant the VAT increase will encourage more consumers to shop across the border,” he said.
The government has insisted that the decision has not been finalised, and is merely a proposal that will be taken to the cabinet before a final decision is made.
The last time Ireland raised its top level of VAT – from 21 per cent to 21.5 – was in October 2008, a move which then-minister Brian Lenihan later lamented as a “serious mistake”.
That increase had coincided with a 2.5 per cent decrease in the top level of VAT in the United Kingdom – with Lenihan estimating that the Irish exchequer had lost around €700m as a result of the increase in cross-border shopping.
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Relax. Let you’re hairs down??
@Honeybadger197: “The Huttese script is translated into English in the video, however, it’s done so with numerous grammatical errors to highlight that this video has not, in fact, originated from Earth.”
I think it’s silly to include the grammar mistakes, but it was intentional.
@meatyslaps: Fair enough. Usually best to read the article first. Not sure it works imo.
@Honeybadger197: funny, there are no grammar mistakes if you read it in a kerry accent.
@Honeybadger197: it’s just how Floki talks so I read it in his accent!
I honestly think they have not captured the best of the wild atlantic way ,one minute is too short ,what about the great castles we have, and megalithic tombs ,if your going to do it, do it right.could have been a bit more creative with the music .anyways check out the wild atlantic way photo group ,you wont be dissapointed .
@Anthony Gallagher: one minute is probably more than enough because there are so many wind farms along the west coast now that it’s next to impossible to video the landscape without capturing wind farms & co council even changed their landscape character assessment zoning areas of natural beauty to “ areas of no scenic value “ there is a prime example of it in kerry where Kcc quotes that eg Ballybunion has “no scenic value “ . All this was done to facilitate wind farm developers. ( brown envelope scam)
@Windy Atlantic Way: Val? Is that you?
High time the river Boyne was discovered especially around Navan
@Braonain Proinseas: what about the homeless?
@Braonain Proinseas: It is every 12th July? lol.
Daragh Anglim, take a bow!
Where have all the bungalows and holiday homes gone?
@Shakka1244: try leaving the main road. …you can go for miles without seeing a house in parts of the west.
@selfsustainable: what about the homeless?
To be honest the waw is becoming a victim of its own success. Roads jammed with cars coaches and camper vans. Beutiful in the winter though.
Nope… Nice images. Huttese? Big fail
What about the homeless?
tourism ireland relying on a damn film.
@purple rain: Damn film relying on our beautiful country would be more appropriate.
@purple rain: Next lets have a hunt for the island of Hy Brasil?
In our corner of the world, on the northwest Donegal coast of the Wild Atlantic Way, we are fortunate to have indeed the scenery of a fantastic planet – a pity it’s not featured in the promotional ad. But, I supposed our land is reached only by the daring and the brave, no matter what galaxy they are from.
We welcome you all next year at the Ireland Writing Retreat https://www.irelandwritingretreat.com/single-post/2017/11/29/%E2%80%98Star-Wars%E2%80%99—an-epic-journey-through-the-entire-Universe—to-Donegal
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