Written answers

Wednesday, 4 July 2012

9:00 pm

Photo of Billy TimminsBilly Timmins (Wicklow, Fine Gael)
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Question 74: To ask the Minister for Finance the estimated increase in tax revenue if the higher rate of tax was increased by 1%. [32763/12]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2012 incomes, of increasing the higher rate of income tax by 1 percentage point would be approximately €205 million. This figure is estimated from the Revenue tax-forecasting model using actual data for the year 2009 adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and likely to be revised.

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