Despite the fact that Minister Noonan and Minister Howlin told the public that today's Budget would be the first neutral budget in years, it was not without its critics.
As soon as Brendan Howlin finished his speech, the various opposition parties took to the floor to outline what they thought of the Budget.
Fianna Fáil
Fiana Fáil have attacked today's Budget, with the party Finance Spokesperson Michael McGrath saying the Budget presented in the Dáil this afternoon is “about short term political gain” and is “built on borrowed money to buy votes”.
A statement released by Fianna Fáil shortly after the announcement of the Budget said it, “fails to set out any credible vision for fairness and solidarity in recovery.”
Deputy McGrath said: “Fine Gael and Labour have clearly decided to fire the first shot today in their general election campaign and in doing so they have proved they have learned nothing from the recent economic crisis. This budget is more about short term political gain than what is right for the Irish economy and our people.”
Some of the most notable figures in today’s Budget were the announcement of a shifting of USC bands to aid middle and low income earners, the injection of €13.1bn for delivery of health in 2015, €2.2bn invested in social housing over the next three years and increases to child benefit (€5 per week in 2016) and a 25% Christmas bonus for welfare recipients. Those paying tax at the top level will enjoy a drop from 41% to 40% in the top level of income tax, while that standard rate band increases by €1,000 to €33,800.
Despite these headline figures – many a sharp contrast from the austerity of recent years – Deputy McGrath said the measures “have utterly failed to provide any real help for people who need it most.”
McGrath highlighted that someone on minimum wage will benefit, but at nothing like the same level as someone earning €70,000 per annum. He noted that the water charges would erase any savings made.
“A minimum wage worker earning €17,500 will pay €174 less tax/USC as a result of today’s budget but people earning €70,000 benefit four times more than those on the minimum wage. The savings for low income earners will be more than wiped out by the new water charges in January,” McGrath said.
McGrath accused the coalition government of repeating the mistakes of previous governments in offering a budget that looks to the short term for political gain and fails to: “undo some of the social harm caused by 6 years of tough austerity." McGrath said this Budget focused on tax cuts that put "disproportionately far more money into the pockets of those with the highest incomes. That speaks volumes about where this government’s priorities lie.”
“Instead of ensuring we bed down the recovery in the economy and target any help at low and middle income families and the most vulnerable Fine Gael and Labour have prioritised short term political gain over what is right for people and right for the economy,” Deputy McGrath added.
Sinn Féin
Sinn Féin's opposition was outline in Pearse Doherty's speech:
