Tax strategy papers published: 30% rate could save middle-income earners €1,000 a year

The papers show that if the 30% band was introduced to cover income from €36,800 to €46,800, it would lead to a tax saving of €1,000 per year for the individual

The Department of Finance estimates that to introduce such a measure would cost €820m in the first year and €945m every year after that. Picture: RollingNews.ie

Up to 1 million middle-income earners and couples could save up to €1,000 a year should the Government introduce a new 30% tax rate in the budget.

The Government’s tax strategy papers, which will set out a range of options for next month's budget, have been published this afternoon.