Aodhán Ó Ríordáin (Dublin North Central, Labour)
Link to this: Individually | In context

Question 85: To ask the Minister for Finance his views on a possible revenue raising initiative (details supplied); and if he will make a statement on the matter. [8657/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

Luxury goods such as the items outlined by the Deputy are currently subject to VAT at 23%, which was increased from 21% in the last Budget, and some luxury items are subject to further taxation such as excise duties. While any additional revenue would be welcome in the current circumstances, it is questionable whether placing a further tax on these goods would produce additional revenue, as the yield would be affected by the possible behavioural impact of the charge. I have no plans to introduce such a tax at this time.