Dáil Tuesday 2 December 2008

Tax shortfall in money terms

Summary

Gilmore presses for the deficit and revenue loss in euros rather than percentages. The Taoiseach says the projected deficit is 6.5% rather than 5.5% and tax revenue is approximately €2 billion below projections.

Eamon Gilmore Labour Party

What is the deficit?

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Brian Cowen The Taoiseach Fianna Fáil

It is projected to be 6.5% rather than 5.5%

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Eamon Gilmore Labour Party

What is that in money terms?

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Brian Cowen The Taoiseach Fianna Fáil

That will be outlined now.

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Eamon Gilmore Labour Party

The Taoiseach has the information with him.

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Leo Varadkar Fine Gael

What about next year?

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Eamon Gilmore Labour Party

By how much will tax revenues decrease?

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Brian Cowen The Taoiseach Fianna Fáil

If I had the exact figures——

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Leo Varadkar Fine Gael

Approximately €16 billion.

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Brian Cowen The Taoiseach Fianna Fáil

By 6.5%.

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Eamon Gilmore Labour Party

How much less tax revenue has the Exchequer compared to the projections?

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Brian Cowen The Taoiseach Fianna Fáil

Approximately €2 billion.

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