It is assumed that the proposed increase would only apply to the married one-earner standard rate tax band and would not apply to the various other classes of standard rate tax bands such as the single and widowed persons, lone parents and married couples where both spouses have income. On this basis, I am advised by the Revenue Commissioners that the estimated full year cost to the Exchequer, estimated by reference to 2013 incomes, of increasing the married one-earners standard rate tax band to €45,000, €47,000, €50,000, €55,000, €60,000 and €65,600 would be of the order of €70 million, €110 million, €165 million, €245 million, €310 million and €375 million respectively.
These figures are estimates from the Revenue tax-forecasting model using latest actual data for the year 2010, adjusted as necessary for income and employment trends in the interim. They are, therefore, provisional and subject to revision.