I am advised by the Revenue Commissioners that the estimated full year yield from reducing Business Relief and Agricultural Relief from 90% to 50% would be in the region of €30 million and €70 million respectively. In arriving at an estimate of yield from these changes it has been taken into account that a reduction in the Business and Agricultural Reliefs may not produce a corresponding tax increase due to the availability of unused exemption thresholds.
It is not possible to estimate the yield from imposing a ceiling of €3 million on the qualifying amount.
It should be noted that these estimates are based upon an assumption that there would be no behavioural impact from such changes, which could lead to a less than expected result from a change to the tax base. In addition, the realisation of any estimated yield from an increase in taxation on assets relating to property is subject to movements in the value of such assets which are currently occurring in the economy.