Labour Party 2010 Budget Proposals

The Irish Labour Party has made it’s proposals for Budget 2010 –   The proposals would result in a €5.8 billion adjustment in Government spending and a €1.15 billion jobs creation programme.

Here are the main points:

* A job-creation programme costing €1.15 billion, with an additional 60,000 training and work experience places.

* A third rate of tax, at 48 per cent, for individuals earning more than €100,000.

* Savings of €1.3 billion in pay and €899 million in other current spending.

* Savings of 17 per cent (€1.246 million) in tender prices on capital spending.

* The immediate abolition of all property reliefs.

* A contribution of not less than €100 million to be sought from tax exiles.

* Curtailing tax expenditure on pension reliefs and minor reliefs.

* Spending of €300 million on “social solidarity” measures such as the Christmas bonus for welfare recipients and combating fuel poverty.

* A negotiated cut in the public sector pay bill of €1.3 billion.

* Flexibility in public sector staff deployment to combat surplus staffing in some areas.