Comment: Currently 20% of the remaining 1/3 goes towards interest

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Currently 20% of the remaining 1/3 goes towards interest

Based on analysis from the Grace Commission Report published in 1984, 20% of Income Tax revenue goes towards interest payments to the 3rd Central Bank.

The issue i here is that once interest rates return to their 20yr average 5.2% 100% of Income Tax will then go just to service the interest on the debt.

Thus eight years ago, 100% was not going towards the interest, so I am not sure how it could have been news to you, unless you are from the future. ;)