Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I acknowledge that there is some concern. I hope circumstances will right themselves as the year goes by. With regard to the personal taxes, PAYE yield is in line with expectations. It is up a little. PRSI receipts are up but the USC receipts are down. What I have said in my reply does not fully explain the USC discrepancy. There is something else happening in respect of it. The Revenue Commissioners are examining it. I cannot throw further light on it today. I hope circumstances will right themselves as the year goes by. We will have a better idea about corporation tax after the May and June receipts come in. By the half-year point, we will see whether the initial concerns are justified or whether circumstances are righting themselves.

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