Dáil Éireann Debate, Thursday - 19 December 2013
115. Deputy Michael McGrath asked the Minister for Finance the cost to the Exchequer of increasing the PAYE and personal tax credits by €100, respectively; and if he will make a statement on the matter. [55094/13]
View answerI am advised by the Revenue Commissioners that the estimated full year cost to the Exchequer, estimated by reference to 2014 incomes, of increasing the PAYE and personal tax credits by €100 respectively, would be of the order of €315 million. The increase in the personal tax credits mentioned in the Deputy’s question is assumed to apply in similar measure to widowed persons tax credit and to include the normal consequential increases in the tax credit for lone parents and the married tax credit. These figures are estimates from the Revenue tax-forecasting model using actual data for the year 2011 adjusted as necessary for income and employment trends in the interim. They are therefore, provisional and likely to be revised.
