Written answers
Wednesday, 15 April 2015
Department of Finance
Tax Code
Billy Timmins (Wicklow, Independent)
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188. To ask the Minister for Finance the cost of lowering the top rate of income tax by 1%; and if he will make a statement on the matter. [14926/15]
Billy Timmins (Wicklow, Independent)
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189. To ask the Minister for Finance the cost of lowering the marginal rate of income tax by 1%; and if he will make a statement on the matter. [14927/15]
Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 188 and 189 together.
I am advised by the Revenue Commissioners that they have published a post-Budget 2015 Ready Reckoner on the Commissioners' new statistics website at:- .
The Ready Reckoner, is directly accessible from that website at:- , and it provides indicative costings in respect of certain changes to Income Tax rates. The costs of the specific changes requested by the Deputy are available in the "Income Tax and Universal Social Charge" section of the Ready Reckoner.
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.
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