Tax Code

Dáil Éireann Debate, Tuesday - 18 September 2012

Tuesday, 18 September 2012

Questions (343)

Tom Fleming

Question:

343. Deputy Tom Fleming asked the Minister for Finance if he will consider introducing a non-complex system of a 5% income tax increase on those earning in excess of €125,000 in view of the fact that he has already ascertained in a reply to a parliamentary question that the projected figure of half a billion euro generated from this initiative would be equivalent to the revenue generated by a property tax; and if he will make a statement on the matter. [39163/12]

Written answers

Minister for Finance

The position is that the Government is committed to introducing a property tax under the Memorandum of Understanding with the European Commission, the European Central Bank, and the International Monetary Fund. In addition, as the Deputy is aware, the Programme for Government states that as part of the Government’s fiscal strategy we will maintain the current rates of income tax together with bands and credits.