O'Dowd won't be drawn on possible USC hike

on 28/10/2012 12:19:45

A Fine Gael Minister is refusing to be drawn on whether a proposal to hike the Universal Social Charge for high income earners will be implemented by government in the coming budget.

Labour junior minister Sean Sherlock has suggested a rate of 10% to be paid by anyone earning more than €100,000.

It is believed the move could raise €71m annually for the exchequer and it is rumoured a number of other Labour and Fine Gael ministers are in agreement with the hike.

Minister of State with Fine Gael, Fergus O'Dowd, said government remain committed to leaving income tax untouched but he said all proposals will be explored by government.