Varadkar plans for USC
New Fine Gael leader Leo Varadkar is facing opposition from Fianna Fáil over his plans to merge the Universal Social Charge and PRSI into a single social insurance payment. The Sunday Business Post writes that Fianna Fáil's finance spokesman Michael McGrath does not see any scope for the "complex" policy in the lifetime of the Government. The Sunday Times reports on Minister for Finance Michael Noonan's speech on Friday where he underlined the importance of maintaining debt reduction levels, despite promises by the new party leader to invest further in roads, rail and hospitals.
O’Leary’s €50m gain
Ryanair boss Michael O'Leary has made a €50 million paper gain as a result of the airline's growth, which is based on its new customer-friendly strategy, according to the Sunday Times. This is based on the fact he was granted over five million share options in October 2014, which can be exercised at €8.35 a share. Ryanair shares hit a high of €18.68 last week. Mr O'Leary already owns 51 million shares in the firm, according to the paper. Meanwhile the Sunday Business Post reports that Mr O'Leary has ruled out installing wifi on the airline's fleet, saying the service is too costly to provide.
Scruffy Murphy’s
Irish property investor Martin Birrane plans to build a €27 million hotel and holiday home development at Clonea Strand in Co Waterford, according to the Sunday Independent. Separately, the paper also reports that Dublin pub Scruffy Murphy's looks set to be demolished to make way for a 36-bed aparthotel on the site.
Pricey parking
Staying with the property market, the Sunday Times reports on an 11sq m parking space in Dublin 4 that has been advertised with a price tag of just under €40,000. The space in Grand Canal Wharf in Ringsend has already attracted an offer of €29,000, which was rejected, the paper reports.
Taxing UK election
As the UK general election heads towards the finish line, tax policies feature prominently in the British Sunday papers. The Observer reports the Labour party will cut the rate of VAT in the UK from its current rate of 20 per cent. Speaking to the paper, shadow chancellor John McDonnell reiterated his claim that 95 per cent of people would face no rises in income tax bills under a Labour government. However, the Sunday Telegraph claims that Labour's "land value tax" – billed by the paper as a "garden tax" – would affect more than 10 million UK households.
