Pearse Doherty
Question:300. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of increasing personal, PAYE and earned Income tax credits by €5, €10 and at a rate of 2%, disaggregated by tax credit type. [39464/22]
View answerThursday, 14 July 2022
Questions (300)
Written answers
I am advised by Revenue that the tables below set out the estimated first and full year costs to the Exchequer of the policy changes outlined by the Deputy.
|
Personal Credit |
First Year Cost €m |
Full Year Cost €m |
|
€5 increase |
11 |
13 |
|
€10 increase |
23 |
26 |
|
2% increase |
79 |
91 |
|
PAYE Credit |
First Year Cost €m |
Full Year Cost €m |
|
€5 increase |
9 |
10 |
|
€10 increase |
18 |
20 |
|
2% increase |
61 |
69 |
|
Earned Income Credit |
First Year Cost €m |
Full Year Cost €m |
|
€5 increase |
0.5 |
0.8 |
|
€10 increase |
1.0 |
1.6 |
|
2% increase |
3.4 |
5.4 |