Joe Costello (Dublin Central, Labour)
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Question 53: To ask the Minister for Finance his views on the recent suggestions that high-income earners who are paid more than €200,000 per year should pay a minimum 20% tax; if he intends to take steps to ensure a minimum tax contribution from high earners; and if he will make a statement on the matter. [7150/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The Deputy is aware of my announcement in budget 2005 that my Department, in conjunction with the Revenue Commissioners, will undertake a detailed review of certain tax incentive schemes and tax exemptions this year. There are a number of elements to the review which is already under way. It will evaluate the impact and operation of certain incentive schemes and exemptions including their economic and social benefits for the different locations and sectors involved and to the wider community. It will include external consultancy work on the evaluation of property-based tax incentive schemes and examine the degree to which these schemes allow high-income individuals to reduce their tax liabilities.

As well as examining relevant international approaches, the review will also include a consultation process seeking submissions on measures that could be introduced to balance the benefit of such reliefs and the extent to which such incentives and exemptions are used by high earners to reduce their tax bill. One such measure to be examined will be the concept of a minimum income tax.

Until this review of tax incentives and exemptions is complete and I have considered the matter, I do not propose to make any comment on the steps I may take in this area.