Michael Colreavy (Sligo-North Leitrim, Sinn Fein)
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Question 17: To ask the Minister for Finance his views on whether the programme for Government commitment to maintain current rates of income tax together with bands and credits will be adhered to in budget 2012. [27674/11]

Michael Noonan (Limerick City, Fine Gael)
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The Programme for Government states that as part of the Government's fiscal strategy we will maintain the current rates of income tax together with bands and credits. As the Deputy is aware, the Government has initiated a Comprehensive Review of Expenditure (CRE) to provide the Government with a set of decision options to meet the overall fiscal consolidation objectives and re-align spending with the Programme for Government priorities. The CRE is currently being completed.

On receipt of this Review, the Government will examine the findings and, based on these findings and consultation with the Troika, will seek to introduce fiscally neutral changes to the detail of the EU/IMF Programme of Financial Support for Ireland.

As the Taoiseach has said we will have to renegotiate with the Troika in order to follow our fiscal strategy within the framework of a Budget that will also meet our targets under the Financial Support Programme.