Special congratulations are due to the Maynooth Law team consisting of Deirdre Casey, Carol Ejie, Surayya Penny and Lynn Burtenshaw which have been awarded second place in the Irish Taxation Institute’s prestigious annual Fantasy Budget Competition. Teams from UL and LYIT placed in 1st and 3rd respectively.
Judged by some of Ireland's leading business commentators and economists, the competition required entrants to review the Budget and critically analyse:-
1. One key measure that impacted on the individual/family;
2. One key measure that impacted on indigenous Irish business; and
3. One key measure that impacted on foreign investment into Ireland.
In addition, teams were required to put forward one measure that they felt the Minister for Finance should have introduced.
In assessing the October Budget, the Maynooth team focussed on:-
1. Changes to the USC as a measure affecting individuals and families,
3. The Areas of Natural Constraint Scheme for Farmers as a measure affecting indigenous business; and
2. The retention of the Knowledge Development Box as a measure affecting foreign investment.
The team also proposed a package of measures to assist in reducing the often prohibitive cost of childcare in Ireland, including tax credits for early childcare and subsidisation of childcare staffing.
Deirdre Casey, Carol Eljie, Surayya Penny and Lynn Burtenshaw together with their lecturer, Kate O’Toole, were invited to attend a prize giving lunch on the 24th January. In addition to the prizes awarded on the day, the team’s submission will be displayed on the Irish Taxation Institute’s Careers in Tax Page for the next year.
The win represents a fantastic achievement for the team and for Maynooth University. It is the second year running when a team from Maynooth have placed in the competition. Last year a team consisting of Diarmaid Donnelley, Robert Segarty and Luke Walsh were awarded third place.
Kate O'Toole, B.L lecturers at the Department of Law, Maynooth on module LW451 Tax Law.