Michael Noonan (Limerick City, Fine Gael)
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With regard to early access to AVCs, the statistics are that from April 2013 to June 2013, 3,949 were drawn down. The aggregate value of those was €27.4 million. The average value drawn down was €6,948 and the tax deducted was €10.8 million. In the period from July to September, 3,245 were drawn down and the aggregate value was €22.1 million. The average value of the draw-down was €6,810 and the tax deducted was €8.7 million. This gives a total to September of 7,194 draw-downs, with an aggregate value of €49.5 million and an average value of €6,881. The total tax deducted was €19.5 million, representing a tax take of €39.4 million in the six months up to the end of September.