Budget paper seen by German committee released to Dáil

The document on the Irish budget presented to a German parliamentary committee two weeks ago was made available in the Dáil yesterday.

The 36-page document outlining the programme of financial support for Ireland contained a segment on recent economic developments and outlook headed “confidential draft”.

The key revenue measure for 2012 listed in the draft is an increase in VAT of 2 per cent to 23 per cent which, it is estimated, will bring in €670 million.

Minister for Finance Michael Noonan has confirmed he would propose such an increase to his Cabinet colleagues for inclusion in the budget to be announced in two weeks.

Other measures listed in the document are the €100 household charge as well as changes in capital gains tax.