TODAY, PAUL O’DONOGHUE looks at Ireland’s success with corporation tax – but wonders, what should we do with it?
Annually, Ireland rakes in close to €30 billion in corporation tax. The two options here are spend it or save it (or do a bit of both). But during the week, the Irish Fiscal Advisory Council said the government is shovelling all this money out almost as fast as it’s coming in.
The only problem is, this “windfall” money isn’t being pumped into important, one-off measures such as infrastructure, but is being used to cover day-to-day expenses, like keeping the HSE running, and we’re only actually tucking away about 15% of our income in this regard for the rainy day fund.
So, today we’re asking you: Should we focus on saving more corporation tax for the rainy day fund?
