asked the Minister for Finance if he is prepared to raise the amount of tax free allowance in incomes owing to the changing value in money.
Ceisteanna—Questions. Oral Answers. - Income Tax Allowances.
57.
As alterations in the income tax allowances are primarily budgetary matters to be taken into account together with other considerations at the appropriate time, the Deputy will appreciate that I cannot at this stage make any statement.
58.
asked the Minister for Finance if he will consider increasing the minimum tax-free allowance under PAYE to £9 per week for a single person in the next Budget.
Alteration of the amounts of the income tax allowances is primarily a matter to be taken into account with other similar matters at Budget time and the Deputy will appreciate that I cannot make any statement at this stage.
59.
asked the Minister for Finance the amounts to which the tax-free allowances of £249 and £424 for a single person and a married man respectively should be raised in order that they would have the same real value on 1st April, 1970 or the nearest available date as they had on 1st April, 1969.
The following is the information requested:
The latest available consumer price index number is that for mid-November, 1969. The following figures, which are rounded up or down to the nearest £, show the estimated amounts required in mid-November, 1969, to purchase the same quantum of goods and services at retail prices as (i) £249 and (ii) £424 would have purchased at mid-February, 1969, on the basis of the consumer price index number for that date.
|
£ |
£ |
|
|
(i) |
(ii) |
|
|
Mid-February, 1969 |
249 |
424 |
|
Mid-November, 1969 |
259 |
442 |
60.
asked the Minister for Finance the amount to which the £500 maximum earned income relief for income tax purposes which was set in 1961-62 should be raised in order that the 1961-62 real value should be restored.
The following is the information requested:
It is estimated on the basis of the relevant consumer price index numbers that £721 15s 3d would have been required at mid-November, 1969, to purchase the same quantum of goods and services at retail prices as £500 would have purchased in the financial year 1961-62.
61.
asked the Minister for Finance the value of the £1 in November, 1969 in 1922-23 terms; and the amount to which a married woman's earned income allowance should be increased to restore the real value of the £45 set in 1922-23.
It is estimated on the basis of the relevant consumer price index numbers that £3 13s 10d would be required in November, 1969, to purchase the same quantum of goods and services at retail prices as £1 would have purchased in the financial year 1922-23. The equivalent purchasing power of £45 would be about £166.