Written answers
Tuesday, 29 November 2011
Department of Social Protection
Social Insurance
9:00 pm
Pearse Doherty (Donegal South West, Sinn Fein)
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Question 232: To ask the Minister for Social Protection the return to the Exchequer from increasing PRSI by 0.5%. [37419/11]
Pearse Doherty (Donegal South West, Sinn Fein)
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Question 233: To ask the Minister for Social Protection the return to the Exchequer from increasing PRSI by 1%. [37420/11]
Joan Burton (Dublin West, Labour)
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I propose to take Questions Nos. 232 and 233 together.
Current estimates indicate that an increase of 0.5% in the main employer rate of PRSI from 10.75% to 11.25% would yield an additional €268 million in a full year for the Social Insurance Fund. A 1% increase in the rate of employer PRSI would yield approximately €535 million.
An equivalent 0.5% increase in the rate of PRSI paid by employees from 4% to 4.5% would yield an additional €206 million in a full year. The estimated yield for the Social Insurance fund of a 1% rate increase in employees' PRSI is €413 million.
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