Thursday, 22 March 2012
Finance Bill 2012 (Certified Money Bill): Committee and Remaining Stages
Kathryn Reilly (Sinn Fein)
I move recommendation No. 9:
In page 12, subsection (2), line 29, to delete “ “€10,036” ” and substitute “ “€17,000”
This amendment deals with the universal social charge. I support the measure which takes approximately 300,000 out of the net for the USC in light of the burden it created for those on low incomes. There was no justification for bringing people earning such small amounts of money into the tax net and the effect was felt by many people.
Our recommendation seeks to increase the threshold. The Finance Bill proposes that those earning less than €10,036 will no longer be subject to the USC. We propose to increase the threshold to €17,000 in order to exempt those earning the minimum wage. I ask the Minister why he did not set the threshold at the minimum wage level.