I propose to take Questions Nos. 202 to 205, inclusive, together.
I am advised by the Revenue Commissioners that Budget costs are estimated as a package of combined measures. The sum of the costs when the measures are separately estimated will not exactly equal the total cost of the package taken together. Given interactions between tax rates and bands, the sum of the costs of reducing tax band and rates will be lower when taken together than if each were costed individually.
I am informed by the Revenue Commissioners that the first and full year estimated cost of the reduction to the 41% tax rate to 40% and the €1,000 increase in the standard rate band is €292 million and €405 million respectively.
The first and full year estimated cost of increasing the standard rate band by €1,000 without changing the higher rate of income tax is €134 million and €180 million respectively.
The first and full year estimated cost of decreasing the 41% tax rate to 40% without changing the standard rate band is €164 million and €234 million.
The first and full year estimated cost of reducing the 2% and 4% USC rates to 1.5% and 3.5% respectively and adjusting the USC threshold from €10,036 to €12,012 is €239 million and €325 million respectively.
The first and full year estimated yield from introducing an 8% rate of Universal Social Charge applicable to incomes over €70,044 is €52 million and €71 million respectively.
The first and full year estimated yield from the increase to 11% of the Universal Social Charge surcharge applicable to self-employed incomes over €100,000 is €18 million and €42 million respectively.
The first and full year estimated cost of reducing the maximum rate of USC from 4% to 3.5% for medical card holders and over 70s with aggregate income less than €60,000 is €16 million and €22 million respectively.
These figures are estimated by reference to 2015 incomes, from the Revenue tax forecasting model using latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment trends in the interim. They are provisional and may be revised. Married persons or civil partners who have elected or who have been deemed to have elected for joint assessments are counted as one tax unit.