Michael McGrath (Cork South Central, Fianna Fail)
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Question 65: To ask the Minister for Finance the revenue that would be raised by creating a new rate of universal social charge of 8% for income over €100,000, €125,000 and €150,000 respectively for a single person and €200,000, €250,000 and €300,000 for a married or civil partnership couple; and if he will make a statement on the matter. [36841/11]

Michael Noonan (Limerick City, Fine Gael)
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The Universal Social Charge (USC) is an individualised charge and as such the yields are calculated for individual incomes of more than €100,000, €125,000 and €150,000 rather than dual incomes of more than €200,000, €250,000 and €300,000. In addition, it is assumed that the Deputy proposes to create two new top rates of USC which would be 8% for PAYE income earners and 11% for self employed income earners on individual incomes of €100,000, €125,000 and €150,000.

On that basis, I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2012 incomes, of creating the proposed new rates of USC for incomes over €100,000, €125,000 and €150,000 respectively would be of the order of €70 million, €55 million and €50 million respectively. These figures are estimates from the Revenue tax-forecasting model using actual data for the year 2009 adjusted as necessary for income and employment trends for the year 2012. They are therefore provisional and may be revised.