Bord Gáis chief executive John Mullins said he and other high-income earners were surprised the Government did not introduce a 3 per cent increase in the universal social charge (USC) in the budget for those earning more than €100,000.
Mr Mullins told the Marian Finucane Show on RTÉ Radio 1 he and other high earners had been “well softened up” for such a hike in the budget. “I’m absolutely surprised that people like myself were not included,” he said.
A hike in the charge for high earners was proposed by Labour, a measure that would have brought in €71 million, but Fine Gael insisted it was a breach of the programme for government and countered with a proposal for a cut of 3 per cent in social welfare payments too.
After the budget, Minister for Finance Michael Noonan said he had ruled out the hike because of the impact it might have had on foreign direct investment into Ireland.
IDA chief executive Barry O’Leary said the issue of the fairness of the USC increase had to be seen in that context.“We thought it would be damaging to foreign direct investment if it was to be introduced,” he said.
