Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 69: To ask the Minister for Finance the cost to the Exchequer if the standard rate of VAT was reduced by 1%; the impact on the cost of living as a result of a decrease in VAT. [44902/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The estimated full year cost to the Exchequer of reducing the 21.5% standard rate of VAT by 1 percentage point is €334 million. This would impact on inflation by reducing the Consumer Price Index by 0.36%.