Finance Minister denies cut to USC would help with high living costs

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The Finance Minister’s denying that a cut to the Universal Social Charge would have been a better way to help people with higher livings costs.

The Government announced a package of measures last night including a €200 energy credit, a 20% cut to public transport fares and an extra €125 payment for those in receipt of fuel allowance.

But critics say the help is not being properly targeted at those who need it most.

Minister Paschal Donohue says that the abolition of, or a cut to the USC , would not be a wise move.

“To remove the Universal Social Charge, particularly since I became Minister for Finance, what happened with Brexit and where we are now with Covid, isn’t a feasible prospect.

“What we can do is we can reduce the amount of income in which you are paying the higher rates of USC and the higher rates of personal tax.

But at this point in time to indicate that we can abolish the Universal Social Charge, where we are particularly with Covid, is not a claim that I believe you can make, let alone implement.”

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