VAT INCREASE COULD LEAD TO JOB LOSSES IN MONAGHAN SAYS COLR TREANOR

25 November 2011 No Comments by The Northern Standard

The fear was expressed by Seamus Treanor at Monday night’s meeting of Monaghan Town Council that the plan by Minister for Finance Michael Noonan to increase VAT by 2% in the December Budget could lead to job losses in Monaghan and other towns in the Border region.
Colr Treanor was moving on notice of motion, “That this Council write to the Minister for Finance, Michael Noonan, asking him to think again about the proposed increase in VAT from 21% to 23% and also their plans to increase the duty on central heating fuels, petrol and diesel.”
The Independent representative said it was hard to believe that Minister Noonan was being realistic when talking of putting up VAT rates by 2%. A previous increase of 0.5% introduced by former Finance Minister, the late Brian Lenihan, had resulted in the loss of almost €1 billion to the North over a 12 month period.
“At least the late Minister Lenihan stood up and admitted he made a mistake, and took the rate back down,” Colr Treanor stated.
He said that €250 million had been generated by people from the North coming across the Border to fill up with petrol and diesel, but if the planned Budget measures were implemented this would completely disappear.
Full story in The Northern Standard

Comments are closed.