Michael McGrath (Cork South Central, Fianna Fail)
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Question 221: To ask the Minister for Finance the carryover effect in 2013 of the taxation measures implemented in Budget 2012; and if he will therefore confirm the monetary amount of new taxation measures needed in order to achieve the memorandum of understanding requirement for €1.25 billion of Revenue measures in 2013. [20138/12]

Michael Noonan (Limerick City, Fine Gael)
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The carry-over effect into 2013 of the revenue measures introduced in Budget 2012 is estimated at €220 million. Therefore new revenue measures to be introduced for 2013 and to raise approximately €1 billion in 2013 will be required. This information is laid out on page D.17 of Budget 2012. The precise contribution from new revenue measures in 2013 that is required in order to adhere to our budgetary targets next year will become clearer later this year taking account of more up-to-date economic and budgetary information which becomes available and decisions taken by Government. The EU/IMF Programme Memorandum of Understanding (MOU) refers to consolidation measures that are in line with the aggregate budgetary projections set out in the Medium-Term Fiscal Statement from November 2011. The MOU is an evolving document. Certain adjustments can be made to it following consultation with the Troika while maintaining respect for the overall budgetary targets.