Ivan Yates
Ceist:114 Mr. Yates asked the Minister for Finance the cost of introducing a tax free allowance for children per year at the rates £100, £200, £300, £400 and £500.
Written Answers. - Child Tax Allowance.
I am informed by the Revenue Commissioners that, because of the withdrawal of the general child tax allowance with effect from 6 April, 1986, statistics are no longer available on which to base a reliable estimate of costs in this area. However, the Commissioners tentatively estimate that the cost in a full year of restoring the allowance at the values referred to in the question on the basis on which it formerly applied, that is to children under 16 years of age or over 16 years of age and in full-time education, would be as follows:
Cost to the Exchequer
|
Allowance value |
Full Year (1993-94) |
|
£m |
|
|
£100 |
23.0 |
|
£200 |
45.5 |
|
£300 |
68.5 |
|
£400 |
91.5 |
|
£500 |
115.0 |