Leo Varadkar (Dublin West, Fine Gael)
Link to this: Individually | In context

Question 173: To ask the Minister for Finance if he has estimated the saving that could be made by imposing a 5% pay cut on public sector employees earning more than €150,000 per annum and a 10% pay cut on public sector employees earning more than €150,000 per annum; and if he will make a statement on the matter. [37977/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

The annual payroll cost for public servants with a maximum salary of €150,000 or more is in the region of €600m. About €400m of this cost relates to Hospital Consultants.

The annual saving from a 10% cut in payroll for this overall group would be approximately €60m. The saving from a cut of 5% would be approximately €30m.

Members of the Government, Ministers of State, Secretaries General of Government Departments and holders of some posts at similar levels have already agreed to make a voluntary surrender of 10% of their pay.

Leo Varadkar (Dublin West, Fine Gael)
Link to this: Individually | In context

Question 174: To ask the Minister for Finance the amount that would be raised by imposing an additional levy of 3%, on top of the existing 2% levy, on income of more than €500,000; and if he will make a statement on the matter. [37978/08]

Leo Varadkar (Dublin West, Fine Gael)
Link to this: Individually | In context

Question 175: To ask the Minister for Finance the amount that would be raised by imposing an additional levy of 1%, on top of the existing 2% levy, on income of more than €200,000; and if he will make a statement on the matter. [37979/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

I propose to take Questions Nos. 174 and 175 together.

I am informed by the Revenue Commissioners the full year yield to the Exchequer from a further 3% in addition to the proposed 2% income levy on income above €500,000 is estimated to be of the order of €160 million. The corresponding full year yield from a further 1% in addition to the proposed 2% income levy on income above €200,000 is estimated at €110 million.

The figures are estimates from the Revenue tax-forecasting model using actual data for the year 2005 adjusted as necessary for income and employment growth for 2009. They are therefore provisional and likely to be revised.