Pearse Doherty
Question:233. Deputy Pearse Doherty asked the Minister for Finance the partial and full-year cost to the Exchequer of abolishing the local property tax. [31253/14]
View answerTuesday, 15 July 2014
Questions (233)
Written answers
I am advised by the Revenue Commissioners that the estimated potential cost to the Exchequer of abolishing Local Property Tax would be in the region of €500m per annum. However, it should be borne in mind that under the terms of the Stability and Growth Pact, once Ireland is out of the corrective arm and until it has reached its objective of a balanced budget in structural terms, we may not introduce discretionary revenue reductions unless they are matched by other revenue increases or expenditure reductions. This means that Government must consider carefully any tax changes as any reductions will have to be offset elsewhere.