Tuesday, 21 May 2019

Ceisteanna (158)

Pearse Doherty


158. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of increasing the earned income credit to the same level as the PAYE credit; and if he will make a statement on the matter. [21608/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by Revenue that estimated costs for increases to the Earned Income Credit are available on page 6 of the Revenue Ready Reckoner, which is available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.

Amounts other than those shown can be extrapolated using a straight line or pro-rata calculation.  On that basis, the cost of increasing the Earned Income Tax Credit by €300 from the current level of €1,350 to €1,650 is €40 million in the first year and €72 million in a full year.