Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

I have made this point a few times on including commitments to producing reports in primary legislation. While I understand why the amendments have been put in, the social welfare legislation is complex already and it is best if we do not put requests for reports into legislation. The actuarial review of the Social Insurance Fund published in March 2023 is a very detailed and comprehensive report that examines and fully costs a wide range of scenarios. One of its findings was the fund will experience significant long-term sustainability challenges, particularly the ageing of our population. The need to take action now is highlighted by the ESRI and the Irish Fiscal Advisory Council. In that context, the Government agreed to a gradual, incremental increase in all PRSI rates including employee, employer and self-employed from 2024 to 2028.

I spoke on Second Stage about the provision that will benefit employers with full-time employees earning the national minimum wage by ensuring the employer is liable for the lower rate of employer PRSI, which currently is 8.9%, rather than the higher rate of 11.5%. This saves an employer €616 in PRSI compared with it paying the higher rate. I am satisfied the approach decided by the Government in relation to PRSI over the next number of years achieves a fair balance between addressing the long-term sustainability of the Social Insurance Fund without unduly impinging on the cost of doing business in Ireland. As a result, I am not accepting this amendment to prepare a report on the concept of a tapered PRSI credit on employment PRSI.

As Senator Dolan said, there will be a €4,000 energy grant by Christmas for the retail and hospitality sectors to cover the higher cost of energy bills. That will be of some assistance to businesses. There will be significant tax changes that will help small businesses and the self-employed, including the changing of the VAT thresholds to allow small businesses and the self-employed keep more of their own money.

There are other supports there and I will not accept this amendment.