Dáil Éireann Debate, Thursday - 19 November 2009
84 Deputy Richard Bruton asked the Minister for Finance the number of taxpayers and their distribution across income categories in 2009 and 2010 which underpin his conclusions on the share of tax paid by taxpayers outlined in page 32 of pre-budget outlook. [42513/09]
Amharc ar fhreagraI am advised by the Revenue Commissioners that the information requested by the Deputy is as follows in respect of the income tax years 2010.
|
Tax year |
Exempt (Standard rate liability fully covered by credits or Age Exemption Limits) |
Paying tax at the standard rate (including those whose liability at the higher rate is fully offset by credits) |
Higher rate Liability not fully off set by credits |
All cases |
|||
|
Number |
% |
Number |
% |
Number |
% |
||
|
Pre-Budget 2010 |
1,050,964 |
47.64 |
889,169 |
40.3 |
266,069 |
12.06 |
2,206,202 |
The figures are estimates from the Revenue tax-forecasting model using actual data for the year 2007, adjusted as necessary to take account of the most recent data available for income and employment trends for the year in question. It is therefore provisional and likely to be revised. It should be noted that a married couple who has elected or has been deemed to have elected for joint assessment is counted as one tax unit.
|
Range of Gross Income |
Numbers |
% of Total Numbers |
Amount of Projected Tax |
% of Projected Total Tax |
|
€ |
% |
€ |
% |
|
|
8000 or less |
369,065 |
16.78 |
0 |
0.00 |
|
8,001 – 17,542 |
417,979 |
19.00 |
9,413,956 |
0.10 |
|
17,543 – 18,300 |
36,628 |
1.67 |
1,730,558 |
0.02 |
|
18,301 – 22,440 |
193,851 |
8.81 |
44,362,655 |
0.49 |
|
22,441 – 34,000 |
431,521 |
19.62 |
476,964,097 |
5.28 |
|
34000 – 40000 |
20,556 |
0.93 |
39,126,646 |
0.43 |
|
40,001 – 50,000 |
321,874 |
14.63 |
1,046,223,814 |
11.58 |
|
50,001 – 60,000 |
117,952 |
5.36 |
751,467,428 |
8.32 |
|
60,001 – 62,000 |
18,620 |
0.85 |
146,885,562 |
1.63 |
|
62,001 – 75,000 |
93,458 |
4.25 |
892,852,395 |
9.88 |
|
75,001 – 100,100 |
88,605 |
4.03 |
1,295,508,502 |
14.34 |
|
100,101 – 150,000 |
54,700 |
2.49 |
1,391,811,565 |
15.40 |
|
150,001 – 200,000 |
15,225 |
0.69 |
633,160,533 |
7.01 |
|
200,001 – 250,000 |
6,679 |
0.30 |
373,168,025 |
4.13 |
|
250,001 – 350,000 |
6,009 |
0.27 |
454,499,137 |
5.03 |
|
350,001 – 500,000 |
3,274 |
0.15 |
363,972,435 |
4.03 |
|
500,001 – 1,000,000 |
2,486 |
0.11 |
469,548,538 |
5.20 |
|
over 1,000,000 |
918 |
0.04 |
644,939,468 |
7.14 |
|
Overall Total |
2,199,399 |
100.00 |
9,035,635,314 |
100.00 |
It should be noted that a typographical error occurred on page 32 of the Pre-Budget Outlook and should have read that estimates in relation to contribution to yield were for 2010 rather than 2009. This has been amended on the Department's website.
These figures are estimates from the Revenue tax-forecasting model using actual data for the year 2007, adjusted as necessary to take account of data available at mid-year 2009 for income and employment trends for the year in question. This is therefore provisional and will be revised. It should be noted that a married couple who has elected or has been deemed to have elected for joint assessment is counted as one tax unit.
85 Deputy Richard Bruton asked the Minister for Finance the projected interest payments on the public debt in 2010 to 2012 on the no policy change assumption and on the assumption of the annual adjustment proposed in the pre-budget outlook. [42514/09]
Amharc ar fhreagraTable 6 of the Pre-Budget Outlook sets out the technical budgetary projections for the 2009-2010 period, based on the assumed €4 billion fiscal adjustment being achieved in 2010. On that basis the General Government deficit is stabilised at 12% of GDP and overall Central Fund expenditure of €7.4 billion is factored in. The bulk of this amount relates to debt interest costs, an estimate of around 16% of projected tax revenues was contained in the Pre-Budget Outlook for 2010. This is based on an assumed national debt of the order of €100 billion at end 2010.
Assuming further corrections in 2011 and 2012, as set out in Table 8 of the Pre-Budget Outlook, a technical scenario shows a General Government deficit of the order of 6% of GDP in 2012. If such a scenario materialises then it is likely that the national debt would be in the region of €30 billion higher than anticipated at end 2010. As a general ‘rule of thumb' the National Treasury Management Agency (NTMA) have advised that, based on technical estimates taking into account current debt dynamics, an extra €1 billion on the Exchequer Borrowing Requirement would add in the region of €60 million in debt servicing interest costs over a full year. As is usual, revised forecasts for debt servicing costs will be contained in the White Paper on Receipts and Expenditure which will be published on 5 December 2009, and in Budget 2010, which will be presented to the Dáil on 9 December.
86 Deputy Richard Bruton asked the Minister for Finance the nominal value of GNP and GDP in 2009 and 2012 implied by the pre-budget outlook and the assumptions therein. [42515/09]
Amharc ar fhreagraIn the Pre-Budget Outlook recently published by my Department GNP and GDP for 2009 is assumed to contract in real terms by 10½ per cent and 7½ per cent respectively. Predicated on the global economic recovery taking hold, positive real annual growth has been assumed from the second half of 2010 onwards. By 2012 real growth of 4 per cent in GNP terms and 4½ per cent in GDP terms has been assumed in the Pre-Budget Outlook. The nominal value of activity is expected to fall both this year and next before resuming an upward trajectory from 2011 onwards. The table below sets out the nominal values for GNP and GDP for 2009 and 2012. Taking account of the specific budgetary measures to be announced on Budget Day, revised medium term macroeconomic forecasts may be published.
|
GNP |
GDP |
|
|
2009 |
133,650 |
165,075 |
|
2012 |
144,325 |
181,850 |
