This year the government hopes that the new Household Tax will bring in €160 million extra income for the government – which they will pass on to local authorities.
We have dug out some other interesting figures to put the €160m figure into perspective ……..
€160 Million is the same amount as the losses made by Quinn Insurance in 2012 .
€160 Million is the same amount as the State’s contribution to the Rathcormac to Fermoy toll motorway on the M8.
Just under €160 million was wasted on the Metro North project – which has now been abandoned.
€160 million is equivalent to just o.1% (1/1000th) of the combined profits of AIB and BOI from 2004 to 2008 (approx 18 Billion)
€160 million is just one tenth of the 1.6 Billion that Sean Quinn was ordered by the Commercial Court in Dublin to pay back to the former Anglo Irish Bank.
€160 million is less than half of the average annual property related tax relief given to developers and owner occupiers in Ireland between 2004 and 2009 (€381 million a year )
€160m is the amount of asset transfers by developers (mainly to family members) that were reversed by NAMA or were close to being overturned by Nov 2011. (To try and stop NAMA getting at them)
€160 million is the estimated annual cost to the state of Diesel Laundering
€160 million is roughly twice what Real Madrid paid Manchester United for Ronaldo.