asked the Minister for Finance if it is his intention to increase income tax-free allowances.
87.
Ceisteanna—Questions. Oral Answers. - Income Tax Allowances.
86.
asked the Minister for Finance if he will increase personal allowances for tax purposes in view of the increased cost of living; and if he will examine the feasibility of annual adjustments which take account of changes in the cost of living.
I propose, with your permission, a Cheann Comhairle, to take Questions Nos. 86 and 87 together.
Adjustments in the income tax personal allowances and reliefs are primarily budgetary matters and, as such, are reviewed annually at the appropriate time with other demands on Exchequer resources. The Deputies will appreciate that I cannot, at this stage, give any indication of what proposals the forthcoming budget may or may not contain.
Will the Minister give any indication of what we may expect in this regard? It is some time ago since the present figure was set and, having regard to the devaluation of money, can the Minister state if he will bring the figure up-to-date?
I can understand the Deputy's concern about the failure of his own Government to do anything about the matter for so many years and he can be assured I am not overlooking this very serious problem.
May I take it that the figure will be increased? I am delighted to hear that.