Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide a breakdown of which taxes will make up to €300 million carry-over as a result of last year's budget measures. [48431/12]

Michael Noonan (Limerick City, Fine Gael)
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Last November's Medium-Term Fiscal Statement estimated that revenue raising measures of €1.25 billion would be required as part of the overall consolidation package in 2013 in order to adhere to the 2013 General Government deficit limit of 7.5% of GDP. It was estimated at that time that this would be made up of €0.95 billion in new revenue measures introduced in 2013 and €0.3 billion in carry-over from the measures introduced in 2012. There were however minor revisions to this estimate in Budget 2012 where the carry-over effect into 2013 of the revenue measures introduced in 2012 was estimated at €220 million. This information is set out on page D.17 of Budget 2012.

The estimated full year yields and/or costs of the tax revenue measures introduced in Budget 2012 are set out on pages B5 – B11 of the Summary of 2012 Budget and Estimates Measures Policy Changes section of the Budget 2012 book.

The difference between the estimated yield/cost of a measure in 2012 and in a full year is effectively the carry-over impact.

The biggest source of carry-over in 2013 is from the 2% standard increase in the VAT rate which it is estimated will yield an additional €110 million in 2013. The increase in carbon tax is expected to deliver an additional €29 million next year. The increase in the capital acquisitions tax (CAT) is also expected to deliver an additional €25 million in 2013 and the increase in DIRT an additional €15 million. These are the main sources of carry-over. For further details the Deputy should consult pages B5 – B11 of the Summary of 2012 Budget and Estimates Measures Policy Changes section of the Budget 2012 book.

In the context of producing the Budget 2013 tax revenue forecasts in the coming weeks, the Revenue Commissioners will advise my Department if the estimated full year costs and/or yields of the tax revenue measures introduced in Budget 2012 need to be revised further.