The government's tax cut plans would cost would cost €2.3bn a year when they're fully introduced, the Department of Finance says. A single worker pays the higher rate of income tax of 40% on any income they have beyond €35,300 a year. Under the plan, a single worker would pay tax at the 20% rate on income of up to €50,000 - and €100,000 . He says the current thresholds for the higher rate of tax are too low:"You begin to pay the higher rate of income tax on approximately €35,000 if you're a single income earner and just over €70,000 if you're a family. "I do not believe that that is a high rate of income in Ireland, it is very much the average wage in our economy," the Minister added.

Source: Irish Examiner July 18, 2019 05:41 UTC