The Irish Congress of Trade Unions wants the government to move away from corporation tax
The National Economic Dialogue is taking place at Dublin Castle this morning.
The congress (ICTU), which represents over 800,000 workers across Ireland, said that the country's current economic model is 'unsustainable' and called on the Government to use Budget 2026 to put the economy on a 'firmer footing'.
Last week, the
Irish Fiscal Advisory Council
echoed similar sentiments. Launching its Fiscal Assessment Report, the Council's chair warned of the current volatility of Ireland's longtime reliance on corporation tax as uncertainty arises from mooted tariffs from the US and further trade tensions.
The ICTU urged Cabinet to build a new economic model that can deliver 'good jobs, improved living standards, and sustained growth'.
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Its General Secretary Owen Reidy said that the government needs to end its reliance on the 'sugar rush' of corporation tax windfalls and start serious planning for the longer term.
Corporation tax is likely to be higher than forecast over the rest of the year, IFAC's latest report found. This has been put down to BEPS reforms that mean
groups with a turnover of over €750m will pay a 15% minimum rate of tax
in every jurisdiction in which they operate. However, there is further uncertainty regarding the future of multinationals in Ireland.
The IFAC has been unable to construct a medium-term forecast due to the department's failure to turn over spending profiles, as well as the government's refusal to commit to a fiscal rule, its chair Seamus Coffey told reporters last week. He said that this highlights that there is no medium-term plan or strategy apparent.
Reidy today said that Ireland is facing 'significant wage inequality' alongside 'major infrastructure deficits'.
'Budget 2026 must mark a turning point by giving certainty and security to workers across Ireland. That means good jobs that pay well, a decent standard of living, as well as stronger public services. But it should also mean a shift in our economic model.
'In the coming weeks, the Irish Congress of Trade Unions will be setting out how we believe that can be achieved through a New Economic Model, and today at the National Economic Dialogue we will be bringing that message to Ministers,' he said.
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