Richard Bruton (Dublin North Central, Fine Gael)

On section 7, the Minister has indicated that gross receipts from the levy will be €1.4 billion. We have not yet been provided with a statement on the impact the collection of these moneys will have on tax buoyancy. The usual format is to provide a table setting out the gross receipts and the impact of a measure on taxation. We are informed that the Department of Finance anticipated exactly what the Minister had in mind and built it into prior tax forecasts but we have not yet seen the detail of this. Is the House not entitled to a statement analysing the impact of the measure on tax buoyancy in a manner which would allow Members to understand how it was calculated? The original intention was to reduce borrowing by €2 billion, whereas we now know the figure has been partially offset by tax calculations.

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