Dáil Éireann Debate, Tuesday - 2 October 2018
177. Deputy Michael McGrath asked the Minister for Finance the breakdown of the €600 million quoted by the Irish Fiscal Advisory Council for the cost of tax indexation by tax heading, that is, income tax, USC, PRSI and so on and by tax measure, that is, tax bands, tax credits and so on; and if he will make a statement on the matter. [39618/18]
View answerI assume the figure the Deputy refers to is that which was published in the Irish Fiscal Advisory Council pre-Budget statement earlier this month. This is based on preliminary Department of Finance figures from Budget 2018. As the Deputy is aware from my recent response to Parliamentary Question No. 148 of September 25th, the expected yield on non-indexation for 2019 is being updated as part of the preparations for Budget 2019. When this figure is published it is on an aggregated basis. I am advised by Revenue that the Pre-Budget 2019 Ready Reckoner, available at: www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf, shows the cost to the Exchequer of a 1% indexation of a number of credits and bands in 2019 (page 10). Further changes can be estimated on a pro-rata basis from the information shown.
