Michael McGrath (Cork South Central, Fianna Fail)
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225. To ask the Minister for Finance the cost in 2015 and in a full year of the increase in the standard rate band of income tax by €1,000 from €32,800 to €33,800 for single persons and from €41,800 to €42,800 for married one earner couples; and if he will make a statement on the matter. [40113/14]

Michael McGrath (Cork South Central, Fianna Fail)
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226. To ask the Minister for Finance the cost in 2015 and in a full year of the increase of the reduction in the higher rate of income tax from 41% to 40%; and if he will make a statement on the matter. [40114/14]

Michael McGrath (Cork South Central, Fianna Fail)
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227. To ask the Minister for Finance the cost in 2015 and in a full year of removing 80,000 taxpayers from the universal social charge; and if he will make a statement on the matter. [40115/14]

Michael McGrath (Cork South Central, Fianna Fail)
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228. To ask the Minister for Finance if he will provide separately the breakdown of the cost in 2015 and in a full year of the reductions in the 2% and 4% universal social charge rates and the raising of the USC thresholds; and if he will make a statement on the matter. [40116/14]

Michael McGrath (Cork South Central, Fianna Fail)
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229. To ask the Minister for Finance the yield in 2015 and in a full year from the introduction of the 8% rate of universal social charge on incomes over €70,000; and if he will make a statement on the matter. [40117/14]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 225 to 229, inclusive, together.

I am informed by the Revenue Commissioners that the first and full year cost of increasing the standard rate band by €1,000, is estimated at €134 million and €180 million respectively. The first and full year cost of reducing the higher rate of income tax from 41% to 40%, is estimated at €158 million and €225 million respectively. The first and full year cost of the increase of the Universal Social Charge (USC) threshold from €10,036 to €12,012, is estimated at €19 million and €26 million respectively. The first and full year cost of reducing the 2% and 4% USC rates to 1.5% and 3.5% respectively and adjusting the USC threshold from €10,036 to €12,012, is estimated at €239 million and €325 million respectively. The first and full year yield from introducing an 8% rate of Universal Social Charge applicable to incomes over €70,044, is estimated at €52 million and €71 million respectively.

These figures are estimates from the Revenue tax forecasting model using latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment trends in the interim. They are estimated by reference to 2015 incomes and are provisional and may be revised. Married persons or civil partners who have elected or who have been deemed to have elected for joint assessment are counted as one tax unit.