asked the Minister for Finance the cost in 1989 and in a full year to the Exchequer of the introduction of (a) a 25 per cent income tax rate on the first £3,000 of income for a single person (b) 35 per cent on the next £6,000 and (c) 45 per cent over £9,000 per annum, with double these amounts for married people.
Written Answers. - Income Tax Bands.
49.
The cost to the Exchequer arising from the introduction of the income tax rates and bands referred to by the Deputy is estimated at £332 million in 1989 and £554 million in a full year.
The figure of the full year cost to the Exchequer is the estimated ultimate net cost by reference to the tax assessed in the year 1989-90, whether actually collected in that year or later, including the yield from taxation of declared interest income.