Brian Cowen (Laois-Offaly, Fianna Fail)

I am also increasing the annual income tax exemption limit for persons aged 65 and over by €500 single and €1,000 married. This will remove a further 1,700 taxpayers from the tax net. These age exemption limits have approximately trebled since the Government came into office.

I am increasing the standard rate income tax band by €2,600 or approximately 9% per year, removing more than 90,000 taxpayers from the higher tax rate. This increase is aimed at ensuring that all those taxpayers earning around the projected average industrial wage in 2006 will pay tax at the lower rate of income tax. This is worth €11 per week in increased take-home pay for those on average incomes.

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