Arthur Morgan (Louth, Sinn Fein)
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Question 377: To ask the Minister for Finance if he has examined the issue of re-introducing a tax on betting at race meetings. [34447/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The on-course levy currently stands at zero having been reduced from a rate of 5% in 1999. It was reduced in the context of the reduction in the off-course duty at that time and the importance of supporting attendances at race meetings. The issue of re-introducing a tax on on-course betting is not under consideration at present.

Arthur Morgan (Louth, Sinn Fein)
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Question 378: To ask the Minister for Finance if he has examined increasing capital gains tax on share trading; and the return for the Exchequer if he increased this tax to 50%. [34448/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Revenue Commissioners that the estimated full year gain from increasing the capital gains tax rate for individuals to 50 per cent could be in the region of €140 million, assuming no significant behavioural change on the part of the affected taxpayers.

As CGT is very dependent on individual behaviour, any change in rate may not produce a corresponding increase or decrease in tax yield. In current economic conditions any estimate of additional yield must be treated with caution and, in such circumstances, increasing the rate could lead to a reduction in yield from the tax.