Average Worker Excluded from USC in Sinn Féin Budget

In Sinn Féin’s alternative budget, finance spokesperson Pearse Doherty emphasizes the immediate relief for workers and families amidst a cost-of-living crisis. The key proposal is the abolition of USC for the first €45,000 earned, ensuring an average worker pays no USC. The plan also involves exempting the first €30,000 earned from USC tax debts, with a full implementation expected in two years.

Mr. Doherty highlights plans to increase the minimum wage, cap childcare costs at €10 per day, and invest in housing to address the housing crisis. He stresses a focus on lower and middle-income earners, differing from the government’s approach.

For additional revenue, Sinn Féin suggests a 3% tax on individual incomes over €140,000, an increase in the banking levy to €400 million, and the elimination of state subsidies for gold-plated pensions. The party also supports universal child benefit and targeted assistance for lower-earning families and lone parents.