Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Section 3 of the Bill, which proposes a new subsection (b)(2), provides that "where an individual has relevant income that exceeds €100,000, the individual shall, instead of being charged to universal social charge on the amount of the excess at the rate provided for in column (2) of that Table [which provides for a rate of 7%], be charged on the amount of that excess at the rate of 10 per cent". My reading of this is that, like self-employed people, who already pay the 10% rate, people with incomes of more than €100,000 will be paying at 10% as well. It is not a surcharge of an additional 3%. This section of the Bill actually provides that they will be charged at the 10% rate. Have we now equalised the situation between PAYE workers and self-employed people with incomes of more than €100,000? I refer to those who are over 70 years of age. I hope Deputies can follow me.