"The Budget is currently earmarked for €1.5 billion in tax cuts next year, but reducing VAT for the hospitality sector could consume €1 billion of that allocation."
"If the proposed lower VAT rate for hospitality is implemented, there may be limited capacity for income tax cuts, negatively impacting workers."
Planning for the upcoming Budget includes a total of €1.5 billion allocated for tax cuts in the next year. A significant portion of this, amounting to €1 billion, is designated for reducing VAT rates for restaurants, bars, and cafes. As a result, this could severely restrict the available funds for income tax reductions, potentially disadvantaging workers who were expecting cuts in their income tax.
Read at Independent
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