Written answers

Tuesday, 10 February 2009

9:00 pm

Photo of Arthur MorganArthur Morgan (Louth, Sinn Fein)
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Question 263: To ask the Minister for Finance the yield for the Exchequer if the pension levy was increased from 2% to 3% for people earning above €200,000; and if he will make a statement on the matter. [5053/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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I understand the Deputy is referring to the income levy. I am informed by the Revenue Commissioners that an increase in the income levy from 2% to 3% on incomes above €200,000 would yield approximately €8 million in a full year.

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. The figures for income and employment growth used are based on macro-economic indicators which have been recently revised in the light of the latest economic outlook for 2009.

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