55 Mr. Cox asked the Minister for Finance the total expected yield from the residential property tax in view of the changes proposed in the Finance Bill, 1994.

I am informed by the Revenue Commissioners that the estimated cost of the changes to the residential property tax in 1994 is £2.25 million. The expected yield from residential property tax in 1994 is, therefore, £11.75 million. This figure does not take account of once-off cash flow loss as a result of the new phased payment facility. The amount of this cash flow loss is entirely dependent upon the number of taxpayers who choose to avail of the facility.