Pascal Donohoe has said that there will be no tax cuts for PAYE workers because of Brexit. But Fine Gael will continue tax cut for company executives who are earning millions.
In 2012, Fine Gael Minister Michael Noonan introduced a Special Assignee Relief Programme which cut the tax bill of senior executives.
If they came to Ireland they could cut their tax bill and even get an allowance for sending their children to a private school.
If they earned over €75,000 a year, their tax bill would be cut by 30% – just like that.
And the reason? Because they were company executives flying into Ireland from a global corporation.
Last year 793 individuals availed of the scheme and four of them had an annual income of over €3 million.
With the tax cut, they made a ‘saving’ of €1 million each.
Welcome to Fine Gael’s corporate paradise.