Written answers
Tuesday, 2 November 2010
Department of Finance
Black Economy
9:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 172: To ask the Minister for Finance his Department's estimate of the value of the black economy in Ireland in 2010 and the estimate of the annual loss to the Exchequer; and if he will make a statement on the matter. [39769/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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My Department does not produce estimates of the size of the informal economy nor of the estimated loss to the exchequer arising from such activities. Internationally, a considerable amount of research has been undertaken in this area but, by definition, it is always difficult to quantify the scale of the informal economy. Having said that, the Central Statistics Office in compiling estimates of national income, and in line with best international practice, makes adjustments to the figures in order to control for informal activity in some sub-sectors of the economy. This is done at a very detailed level, with the result that an overall economy-wide estimate is not available.
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