Austin Deasy
Question:34 Mr. Deasy asked the Minister for Finance the cost to the Exchequer of reducing the high rate of income tax by one penny in the pound and the lower rate of income tax by one penny in the pound. [19559/97]
Written Answers. - Tax Yield.
I am informed by the Revenue Commissioners that the full year costs to the Exchequer, by reference to the income tax year 1998-99, of the changes mentioned by the Deputy are estimated as follows:
A reduction of the 48 per cent rate of income tax to 47 per cent would cost £54 million in a full year and a reduction of the standard rate of income tax from 26 per cent to 25 per cent would cost £105 million in a full year.