asked the Minister for Finance if he will consider introducing legislation so that a pension or annuity which is the main support of a man over sixty-five or a woman over sixty will be regarded as earned income for income tax purposes; and if he will consider raising the personal allowances for income tax purposes so as to compensate for the continued increase in the cost of living.
Ceisteanna—Questions. Oral Answers. - Income Tax Allowances.
4.
The matters raised are ones which would require Finance Bill legislation and the Deputy will appreciate that I cannot indicate in advance what proposals my Budget statement may or may not contain. As regards the first part of the question, however, I would point out that pensions and annuities under superannuation schemes rank as earned income under existing law.
Can the Minister give an undertaking that the special circumstances of people living on these fixed incomes will be considered if he is charged to introduce a Budget with the increased cost of living still obtaining? I can give the undertaking that, if the Minister is not so charged, we will give that consideration.
The Deputy can easily give the undertaking. Another £200 million will not make much difference.
This would not cost £200 million. It would cost only a trivial sum, but it would relieve a very great hardship.