andMr. McQuillan asked the Minister for Finance the estimated percentage rise in the cost of living when the two and a half per cent turnover tax and the five per cent corporation profits tax are, as stated by those concerned, passed on to the consumer in respect of those items reckoned in the cost of living figure assessment.
Ceisteanna—Questions. Oral Answers. - Estimated Cost of Living Increase.
20.
As I said in reply to the Deputies' question on 7th May, the precise effect of the turnover tax on the cost of living cannot be stated at present but, if the price of those items in the cost of living index figure to which the turnover tax would apply were increased by 2½ per cent, it is estimated that the consumer price index figure would increase by about 2¼ per cent.
It is not clear that the cost of living index would be affected by the proposed increase in corporation profits tax.