Dáil Éireann Debate, Thursday - 19 December 2013
106. Deputy Kevin Humphreys asked the Minister for Finance the projected cost of returning the standard rate cut off point to 2010 levels for single, married and so on reversing the changes from budget 2011; and if he will make a statement on the matter. [55023/13]
View answerI assume the Deputy’s question is confined to the reductions in the standard rate bands announced in Budget 2011. On this basis, I am informed by the Revenue Commissioners that the full year cost to the Exchequer, estimated by reference to 2014 incomes, of returning the standard rate tax bands to 2010 levels, for single and widowed persons, as well as for lone parents and for married couples would be of the order of €535 million. The figure is an estimate from the Revenue tax-forecasting model using latest actual data for the year 2011, adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and likely to be revised.
