asked the Minister for Finance if he will give an estimate of the cost of exempting all persons over 65 years from income tax and income levies; and if he will make a statement on the matter.
Written Answers. - Cost of Tax Exemptions.
116.
The estimated cost of exempting all persons aged 65 and over from income tax, in addition to those already exempt, is £36 million in a full year. The 1 per cent income levy was removed in the 1986 budget. No official estimate of the cost of exempting persons over 65 from the income based levies is available.
A proposal for such a broad exemption from tax would not be considered as equitable in the context of our progressive tax code.