Dáil Éireann debate -
Wednesday, 8 Feb 1995

Vol. 448 No. 7

Written Answers. - Third Level Education Covenants.

Róisín Shortall

Question:

48 Ms Shortall asked the Minister for Finance the cost to the State of covenants for third level students; the number of such convenants in existence in the academic year 1994-95; the number and cost of covenants to family members; the number and cost of covenants to non-family members; the average sum covenanted to family members; the highest sums covenanted to family members; the average sum covenanted to non-family members; and the highest sum covenanted to non-family members. [2893/95]

Minister for Finance (Mr. Quinn)

I am informed by the Revenue Commissioners that statistics are not available which would enable the precise information requested by the Deputy to be given. Such information could not be obtained without undertaking inquiries which could be carried out only at a disproportionate cost.

On the basis of the limited data available, the Revenue Commissioners have derived the following tentative information on covenants in respect of the income tax year 1994-95:

Type of covenant recipient	Estimated number of covenantors	Estimated cost to the Exchequer	Estimated average sum covenanted
		£m	£
Family membersº	22,000	20	1,950
Non-family members	15,000	17	2,450
These figures include:
Third level students	25,000	23	2,150

ºThe term "family members" is used to describe covenants to children or grandchildren where the amounts covenanted are limited to a maximum of 5 per cent of the covenantor's income.