Final details of the December 9th Budget are due to be worked out at a meeting of the Cabinet today. One possible item under discussion is likely to be a new income levy on those earning more than €150,000 .
Minister for Finance Brian Lenihan has said that no new taxes will be introduced – but maybe a tax can be disguised as a levy. It is likely to be done by as an increase in the income levy rate by 1% or 2% for that category.
“Senior Fianna Fáil sources” said that, in order to avoid charges of unfairness towards lower-income groups, “the Government has to show that those on high incomes will be asked to give a bit more”.
