Oireachtas Joint and Select Committees
Tuesday, 18 November 2014
Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance
Finance Bill 2014: Committee Stage
6:50 pm
Pearse Doherty (Donegal South West, Sinn Fein)
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I have one final question on the 8% rate of USC that counters the reduction from 41% to 40% on incomes over €70,000. I have the figures for the yield of introducing the 8% figure, but what is the comparison cost to the Exchequer of reducing income tax on incomes above €70,000 from 41% to 40%? I am looking for that figure because the 8% rate will bring in €71 million in a full year. Does that €71 million match euro for euro or is it above or below?