Income tax revenue and debt service

Summary

The Minister estimated 1981 income-tax revenue at £1,144 million and debt-service costs at £984 million; members challenged the debt burden and the Government’s increase in national debt.

John Horgan Mr. Horgan Labour Party

asked the Minister for Finance (a) the anticipated revenue from income tax in the current year; and (b) the cost of debt service in the current year.

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Garrett Fitzgerald Mr. G. Fitzgerald Fine Gael

In 1981, the yield from income tax is estimated at £1,144 million.

The cost of servicing the public debt in 1981 is estimated at £984 million.

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Jim O'Keeffe Mr. O'Keeffe Fine Gael

It is costing £1 billion to pay the Government debts.

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Garrett Fitzgerald Mr. G. Fitzgerald Fine Gael

We can always cut back and increase unemployment.

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Jim O'Keeffe Mr. O'Keeffe Fine Gael

The Government doubled the national debt over the last three years.

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