PBP proposes tax on millionaires, corporation tax hike

People Before Profit, a political party, has proposed a new tax on multimillionaires and an increase in corporation tax to 20% in their alternative budget package. The document, titled 'A Radical Budget for an Affordable Ireland', also includes a €500 electricity credit for each household, funded by a levy on data centres.

According to TD Richard Boyd Barrett, taxing wealth and businesses could generate an additional €45 billion to address the cost-of-living and housing crises. He emphasized that taxing multimillionaires, big corporations, energy companies, and data centres could help protect people from housing and cost-of-living misery.

Party colleague TD Paul Murphy argued that Ireland should not be held hostage by US corporations that use Ireland as a conduit to a corporate tax haven. He criticized the widespread belief in the high productivity of workers in the multinational sector, stating that profits are often funneled from elsewhere and artificially attributed to Ireland.

Other measures proposed by the party include a 10% pay rise for public sector workers, raising disability payments to €350 per week, and an additional €55 per week in disability benefits. People Before Profit also aims to abolish fees for third-level education and childcare, as well as purchase 500 additional electric buses.

In terms of housing, the party plans to triple spending on public housing and transform the Land Development Agency into a State construction company.