Written answers
Wednesday, 8 May 2019
Department of Finance
Budget Measures
Catherine Connolly (Galway West, Independent)
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157. To ask the Minister for Finance the estimated additional revenue that would be raised in budget 2020 from the non-indexation of the income tax system; and if he will make a statement on the matter. [19400/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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The estimated yield from non-indexation for Budget 2020, will not be finalised until the Office of the Revenue Commissioners has completed and published its Pre-Budget 2020 Income Tax Ready Reckoner, which is expected to be published in Quarter 3 2019. This sets out the cost to the Exchequer of indexing various income tax components by 1%.
In addition, the updated Budget 2020 macro-economic drivers used in preparing these calculations will need to be endorsed by the Irish Fiscal Advisory Council in early October 2019.
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