Dáil Éireann Debate, Tuesday - 19 May 2015
122. Deputy Pearse Doherty asked the Minister for Finance his Department's estimate of the effect of all tax changes since the current Government came to office, in millions of euro, to the change in the Exchequer deficit in the period January 2015 and April 2015 compared to the same period in 2011 and the total change in tax revenues during that period. [19315/15]
View answerThe following table sets out the position in terms of Exchequer Deficit and total tax revenues collected at end-April 2011 and at end-April 2015 respectively.
Exchequer Deficit and Total Tax Revenue:
|
|
End-April 2011 |
End-April 2015 |
Change |
|
|
€m |
€m |
€m |
|
Total Tax Revenue |
9,611 |
12,864 |
+3,253 |
|
Exchequer Deficit |
-9,913 |
-2,319 |
+7,594 |
The table following sets out the estimated full year cost or yield at the time of introduction in respect of the various tax packages introduced by this Government since 2011 to date. In addition, the costs or yields do not take account of any amendments or changes that may have been introduced in the associated Finance Acts, or amended to reflect changes in the estimated cost or yield as a result of delays in State Aid approval or commencement orders etc.
|
|
Total -cost/+yield €m |
|
Jobs Initiative 2011 |
-75 |
|
Budget 2012 |
+1,270 |
|
Budget 2013 |
+1,730 |
|
Budget 2014 |
+265 |
|
Budget 2015 |
-510 |
It is important to point out that the cost and yields stated above do not take account of the second round impact on aggregate demand. As the Deputy will be aware, the second round impact of stronger demand is greater tax yields.
In addition, I should point out that actual tax revenue outturns are driven by a number of factors such as the macroeconomic drivers, growth and strategic policy measures introduced to promote jobs and growth in the economy.
