Dáil Éireann Debate, Thursday - 24 October 2019
62. Deputy Michael McGrath asked the Minister for Finance the breakdown of the €300 million net tax measures in his budget 2020 statement; the breakdown of the €2.9 billion net budget package; and if he will make a statement on the matter. [43984/19]
View answerThe various tax measures introduced in Budget 2020 are listed in ‘Budget 2020 Tax Policy Changes’ published at Budget time. Excluding the Carbon tax — the proceeds of which will be ring-fenced for climate-related investment and to safeguard against any potential impacts for those most at risk — the net impact of these measures in 2020 is an increase in taxes of c. €340 million. If the Carbon tax measure is included, net tax increases amount to c. €430 million.
On the expenditure side, core gross voted current expenditure will increase by €2.6 billion from €59.3 billion to €61.9 billion, an increase of 4.3%. Core gross voted capital expenditure will increase by €0.8 billion from €7.3 billion to €8.1 billion, an increase of 10.8%. A breakdown of these increases is provided in ‘Budget 2020 Expenditure Report’ published at Budget time.
Taking the increase in core voted current and capital expenditure together, the increase in voted expenditure is €3.37 billion. The €2.9 billion Budget 2020 package is comprised of the increase in core spending (€3.37 billion) less the net tax package (€430m).
