(Limerick East) asked the Minister for Finance the total amounts of tax revenue which will be foregone under (a) mortgage interest relief, (b) tax relief on health insurance premiums, (c) tax relief on life insurance premiums, (d) PAYE allowances and, (e) PRSI allowances in each of the tax years 1987-88 and 1988-89.
Written Answers. - Tax Revenue.
32.
The following table sets out the information requested in so far as it is available:
Estimated full year cost to the Exchequer
|
Allowance or Relief |
1987-88 |
1988-89 (Post budget 1988) |
|
£m |
£m |
|
|
(Provisional) |
(Provisional) |
|
|
Mortagage interest |
151 |
160 |
|
Medical insurance (VHI) |
41 |
48 |
|
Life assurance |
38 |
44 |
|
Employee (PAYE) |
252 |
286 |
|
PRSI |
84 |
84 |
33.
(Limerick East) asked the Minister for Finance in respect of each of the tax years 1985-86 and 1986-87 the total amount of tax revenue forgone by the Exchequer as a result of the operation of accelerated capital allowances against corporation profits tax liability; and his forecast of the amounts of tax revenue which will be foregone under this heading in each of the tax years 1987-88 and 1988-89.
The relevant information available is in respect of the cost to the Exchequer in terms of corporation tax foregone from the granting of accelerated capital allowances to companies. Following is the information requested in so far as it is available:
Estimated full year cost to the Exchequer.
|
1985-86 |
1986-87 |
1987-88 |
1988-89 |
|
|
£m |
£m |
|||
|
Accelerated capital allowances |
110 |
112 |
not available |
not available |
Notes
(1) The estimates are very tentative and are subject to a wide margin of error.
(2) The cost figures shown are by reference to accounting periods ending in the year to 5 April immediately preceding each of the years in question (e.g. year ended 5 April 1985 relates to the column headed 1985-86).