Dáil Éireann Debate, Thursday - 12 March 2009
83 Deputy Richard Bruton asked the Minister for Finance the impact on revenues, including VAT, and the CPI from a rise in excise duty on petrol and diesel that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10723/09]
View answerI am informed by the Revenue Commissioners that, based on current data, the impacts on revenues and on the CPI arising from the indicated increases in excise duties, inclusive of VAT, on petrol and diesel, in a full year and in 2009, if increase implemented from 1 April 2009, are set out in the following table. Revenue and CPI impacts arising from a range of excise increases, inclusive of VAT
|
Excise increase, inclusive of VAT |
5 cent |
10 cent |
15 cent |
20 cent |
|
|
Petrol (per litre) |
Full Year Yield |
€101.0m |
€199.5m |
€296.0m |
€390.5m |
|
CPI impact |
0.13% |
0.27% |
0.40% |
0.54% |
|
|
2009 Yield |
€66.7m |
€131.9m |
€195.7m |
€258.2m |
|
|
Diesel (per litre) |
Full Year Yield |
€110.4m |
€219.9m |
€323.4m |
€429.4m |
|
CPI impact |
0.04% |
0.07% |
0.11% |
0.15% |
|
|
2009 Yield |
€80.6m |
€159.3m |
€236.2m |
€311.1m |
84 Deputy Richard Bruton asked the Minister for Finance the impact on revenues, including VAT, and the CPI from a rise in excise duty on a box of cigarettes that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10724/09]
View answer85 Deputy Richard Bruton asked the Minister for Finance the impact on revenues, including VAT, and the CPI from a rise in excise duty on a pint of beer that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10725/09]
View answer86 Deputy Richard Bruton asked the Minister for Finance the impact on revenues, including VAT, and the CPI from a rise in excise duty on a pint of cider and perry that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10726/09]
View answer87 Deputy Richard Bruton asked the Minister for Finance the impact on revenues, including VAT, and the CPI from a rise in excise duty on a half glass of spirits that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10727/09]
View answer88 Deputy Richard Bruton asked the Minister for Finance the impact on revenues, including VAT, and the CPI from a rise in excise duty on a bottle of wine that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10728/09]
View answerI propose to take Questions Nos. 84 to 88, inclusive, together.
I am informed by the Revenue Commissioners that, based on current data, the impacts on revenues and on the CPI arising from the indicated increases in excise duties, inclusive of VAT, on the products listed, in a full year and in 2009, if increase implemented from 1 April 2009, are set out in the following table. Revenue and CPI impacts arising from a range of excise increases, inclusive of VAT
|
Excise increase, inclusive of VAT |
50 cent |
100 cent |
150 cent |
200 cent |
||
|
Cigarettes (per pack of 20) |
Full Year Yield |
€93.0m |
€181.9m |
€266.8m |
€347.7m |
|
|
CPI impact |
0.21% |
0.43% |
0.64% |
0.85% |
||
|
2009 Yield |
€67.4m |
€131.9m |
€193.5m |
€252.1m |
||
|
Excise increase, inclusive of VAT |
5 cent |
10 cent |
15 cent |
20 cent |
||
|
Beer (per pint) |
Full Year Yield |
€39.1m |
€77.7m |
€115.7m |
€153.3m |
|
|
CPI impact |
0.07% |
0.13% |
0.20% |
0.26% |
||
|
2009 Yield |
€26.9m |
€53.5m |
€79.8m |
€105.7m |
||
|
Cider & Perry (per pint) |
Full Year Yield |
€5.2m |
€10.3m |
€15.4m |
€20.4m |
|
|
CPI impact |
0.01% |
0.02% |
0.03% |
0.04% |
||
|
2009 Yield |
€3.7m |
€7.4m |
€11.1m |
€14.7m |
||
|
Spirits (half glass) |
Full Year Yield |
€20.0m |
€39.2m |
€57.6m |
€75.3m |
|
|
CPI impact |
0.03% |
0.052% |
0.08% |
0.10% |
||
|
2009 Yield |
€13.9m |
€27.4m |
€40.2m |
€52.6m |
||
|
Excise increase, inclusive of VAT |
20 cent |
40 cent |
60 cent |
80 cent |
100 cent |
|
|
Wine (per 75cl) |
Full Year Yield |
€11.1m |
€21.6m |
€31.5m |
€40.8m |
€49.5m |
|
CPI impact |
0.02% |
0.05% |
0.07% |
0.09% |
0.11% |
|
|
2009 Yield |
€6.9m |
€13.5m |
€19.7m |
€25.5m |
€31.0m |
89 Deputy Richard Bruton asked the Minister for Finance the impact on revenues and the CPI from a rise in the 0% rate of VAT to 5% and 13.5% respectively that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10729/09]
View answerI am informed by The Revenue Commissioners that the additional revenue that would be generated by applying a VAT rate of 5% to goods currently at 0%, which if moved could continue to attract a reduced VAT rate, with effect from April 1 is estimated to be €204 million in 2009 and €349 million in 2010 and have a CPI effect of 0.60%. On the same basis, the additional yield from increasing those goods from the zero rate to 13.5% is estimated to be €550 million for 2009 and €942 million in 2010 with a CPI effect of 1.61%. I would point out that under EU VAT law, if certain products, such as children's clothes and footwear were to be moved from the zero rate they would have to be made subject to the standard VAT rate of 21.5%. Accordingly they are excluded from the costing provided above.
90 Deputy Richard Bruton asked the Minister for Finance the revenues generated from an increase in the income levy from 2% to 3% from those earning between €100,000 and €200,000 that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10730/09]
View answerI am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, of an increase in the income levy from 2% to 3% on incomes between €100,101 and €200,000 would be approximately €35 million. The yield in 2009, if implemented from 1 April, would be of the order of €15 million. However, I should point out that this would create an anomalous situation where an individual would be liable to the income levy at a rate of 1 per cent up to a ceiling of €100,100, a rate of 3 per cent on income from €100,101 to €200,000, a rate of 2 per cent on income from €200,001 to €250,120 and a rate of 3 per cent on the balance. The figures are estimates from the Revenue tax-forecasting model using actual data for the year 2005 adjusted as necessary for income and employment growth for 2009. They are therefore provisional and likely to be revised.
91 Deputy Richard Bruton asked the Minister for Finance the revenues generated from an increase in the income levy from 3% to 5% on those earning over €200,000 that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10731/09]
View answer92 Deputy Richard Bruton asked the Minister for Finance the revenues generated from an increase in the income levy from 3% to 10% on those earning over €200,000 that would be raised in 2009 if implemented from 1 April and in 2010 for the year as a whole. [10732/09]
View answerI propose to take Questions Nos. 91 and 92 together.
I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, of an increase in the income levy to 5% and 10% on incomes above €200,000 would be of the order of €90 million and €295 million respectively. The yield in 2009, if implemented from 1 April, would be of the order of €35 million and €110 million respectively.
The figures are estimates from the Revenue tax-forecasting model using actual data for the year 2005 adjusted as necessary for income and employment growth for 2009. They are therefore provisional and likely to be revised.
93 Deputy Richard Bruton asked the Minister for Finance the savings incurred if mortgage interest relief for non-first time buyers was abolished and implemented from 1 April and in 2010 for the year as a whole. [10733/09]
View answerI am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, of abolishing mortgage interest relief for non-first time buyers would be of the order of €140 million. The yield in 2009, if implemented from 1 April, would be of the order of €100 million.
94 Deputy Richard Bruton asked the Minister for Finance the savings incurred if limiting existing mortgage interest relief for new first-time buyers to three years and implemented from 1 April and in 2010 for the year as a whole. [10734/09]
View answerA restriction of mortgage interest relief for new first time buyers along the lines suggested by the Deputy would not generate an Exchequer saving in the cost of tax relief before 2012. However, if it is assumed that the average mortgage is €225,000, the average mortgage rate is 3.75%, the average length of mortgage for first time buyers is 30 years, non-first time buyer relief is not available to these first time buyers after 3 years and no other changes are made to mortgage interest relief provisions, the saving from this measure would be approximately €6.5m per 1,000 new first time buyers.
