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Budget 2010 presents Government with stark choices
Given the huge fall in the Government’s tax-take and the substantial Budget deficit there are stark choices to be made if this situation is to be reversed in 2010. Much of the public discussion has focused on cuts in public expenditure with the options outlined in the McCarthy Report (Bord Snip Nua) being taken by many as the menu from which Government must choose. This of course misrepresents the situation as the overall tax-take is a key issue that also needs to be addressed. The Report of the Commission on Taxation provides an opportunity for Government to move towards developing a fairer tax system and thereby raising the overall tax take as a percentage of GDP.
Budget 2010 is likely to be announced by the Minister for Finance on December 2nd, 2009.