Richard Bruton
Ceist:232 Mr. R. Bruton asked the Minister for Finance the cost of indexing all credits, allowance bands and cut-off points to take account of the expected 12 month inflation in the forthcoming budget. [19552/01]
Written Answers. - Tax Code.
I am informed by the Revenue Commissioners that the cost to the Exchequer, estimated by reference to 2001 incomes, of the change mentioned by the Deputy is £202 million.
The estimated cost is based on the indexation of the exemption limits, the main personal tax credits, that is for people who are single, married, widowed, lone parents and home carers and the standard rate band in line with an estimated average inflation rate of 4.5% for 2001 as indicated in my budget statement of 6 December 2000.
The estimate is provisional and is likely to be revised.
Richard Bruton
Ceist:233 Mr. R. Bruton asked the Minister for Finance the cost of introducing a 30% tax rate applying to £4,000 single and £8,000 married. [19553/01]
I am advised by the Revenue Commissioners that the cost to the Exchequer, estimated by reference to 2001 incomes, of the change mentioned by the Deputy is £224 million in a full year.
This estimate is provisional and is likely to be revised.
Richard Bruton
Ceist:234 Mr. R. Bruton asked the Minister for Finance the cost of increasing the PAYE tax credit to £800. [19554/01]
I am advised by the Revenue Commissioners that the cost to the Exchequer, estimated by reference to 2001 incomes, of the change mentioned by the Deputy is £393 million in a full year.
This estimate is provisional and is likely to be revised.