Michael Noonan (Limerick City, Fine Gael)

In that event, the Administration's position, as reiterated by the Taoiseach, is as set out in the programme for Government. In his recent remarks the Taoiseach merely pointed out that income tax increases amounting to approximately €250 million per year had been pencilled in for 2012 and 2013 and that we would be obliged to obtain the agreement of the troika to remove these commitments from the tax profile and replace them with other taxation measures of equal value. We do not see any difficulty in renegotiating that part of the programme. The Taoiseach wanted to be absolutely and factually correct when he stated that, as matters stood, that which our predecessors had negotiated included income tax increases. As stated in the programme for Government, we do not intend to have such increases in the forthcoming budget. However, there remains an element of negotiation with the troika on the matter.

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