The Horseman
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The choice will be taken out of the govt's hand if Trump is successful. His policy of "Make America Great Again" has set his sights on a lower corporation tax rate for industries who locate in the US. We are becoming an attractive location for Economic migrants because of our welfare system and once in Ireland some will be reluctant to move.But even when it comes to making hard decisions it doesn't cut welfare payments, it might tinker with them reducing access or stopping increases, look what happened during the financial crisis. Whereas they cut infrastructure spending completely and decimate the construction industry, also explains the severe infrastructure deficits in the country
Personally I think there are some very hard decisions coming and they will be forced to be taken whether the politicians want to take them or not (the Trokia springs to mind). If infrastructure (specifically technologically necessary ones) are not invested in we wont have the income or corporation tax to fund our current welfare system and cuts will be forced on recipients.
Increasing income tax levels to replace lost corporation tax revenues will in a lot of instances will be a disincentive to working if take home pay is compared to welfare payments for individuals in similar situations etc.