Better future for the young should be priority for surplus, not lining pockets of well-off older voters
And they know how to use their influence, quietly but very effectively. A nexus of company executives, senior legal and financial advisers to these companies and the IDA wields huge power. Senior civil servants would be very wary of “crossing” the IDA.
Now, we are at an interesting moment. Lower profits in the tech sector could start to affect tax revenues here – corporate taxation figures for June will be a vital sign. There may, indeed, be some froth in the figures which will disappear. On the flip side, however, tax allowances on large intellectual property transfers these companies made to Ireland in recent years will start to run down, exposing some more earnings to tax.
The message from the party is that it wants to see the multinationals continue to invest here, and will not change the corporate tax regime. It is selling the stability message. It is also sticking with its argument that all employers should pay more PRSI – the existing Government parties may take this route too. Importantly, higher income tax on the portion of earnings over €140,000 remains part of Sinn Féin policy.