Dáil debates
Wednesday, 6 December 2006
Budget Statement 2006
3:00 pm
Brian Cowen (Laois-Offaly, Fianna Fail)
The cost of these measures is €501 million in 2007 and €657 million in a full year.
The 20% standard income tax band will be widened by €2,000 per year to €34,000 single and €43,000 married one earner couples. The projected average industrial wage for 2007 is just over €33,000. Again, we have ensured that workers on such earnings will not be liable to pay tax at the higher tax rate. This measure will cost €268 million in 2007 and €365 million in a full year. These increases in credits and bands mean that 80% of income earners will continue to pay an effective tax rate of no more than 20%.
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