Simon Harris (Wicklow, Fine Gael)

I thank Deputy Doherty. I will emphasise some of what he said. My Department commissioned Indecon Economic Consultants to carry out an independent review of the share-based remuneration scheme. The review made a number of recommendations pertaining to share-based remuneration and the PRSI exemption. The review found that the PRSI exemption is regarded as an important support for SMEs and other businesses in Ireland. We are all in agreement on that.

Recommendation 1 of the review suggests that a cap on the level of the employer PRSI exemption should be considered as part of the process of determining future policy in this area. It is important that we get these calls right, in particular given the volatility in terms of trade and investment currently in the world. We are considering how best to determine future policy in the area. We are considering all of the recommendations made in the review and as part of these considerations, my Department has started engagement with relevant stakeholders. We intend to continue to do that and then decide how to respond to these recommendations. For that reason, I do not consider it necessary to carry out a further report on the PRSI exemption for share-based remuneration at this time. I want to assure the Deputy that work on considering how to respond the recommendations is under way.

See this speech in context