Vol. 434 No. 6
68 Ms Shortall asked the Minister for Finance the take from the 1 per cent employment levy to date; the estimated take for the current 12 months; the use to which these funds have been or are being put; and if he will make a statement on the matter.
I understand that the question relates to the 1 per cent income levy introduced in the 1993 budget. The yield to the Exchequer from the income levy over the period from its introduction on 6 April last to 30 September 1993 was £43 million. The budget projection of the yield from the levy in 1993 — the period to which, I assume, the Deputy refers — is £78 million, and there is no reason to suppose that the outturn will vary significantly from this estimate.
As regards the use to which the yield is being put, the levy was introduced to secure additional necessary revenue for overall budgetary purposes. The yield from the levy is being taken to account as part of general tax revenue, and is not specifically earmarked for any particular expenditure programme.
