Written answers

Wednesday, 14 January 2015

Department of Finance

Universal Social Charge Application

Photo of Tom BarryTom Barry (Cork East, Fine Gael)
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151. To ask the Minister for Finance the worth to the economy of a 1.5% rate of universal social charge to higher earners, that is over €100,000. [1087/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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It is not possible to answer the Deputy's question, as in its current form it is open to a series of interpretations. For instance the Deputy may wish to know the cost to the Exchequer from reducing, from 3% to 1.5%, the current USC surcharge which applies to that portion of self-assessed income over €100,000 per annum. Alternatively, he may be inquiring about the potential yield from extending the surcharge at the suggested rate to PAYE workers earning in excess of €100,000.

My officials have, on a number of occasions, sought clarification from the Deputy as to the precise nature of the question to which he seeks a response. However, no response was received. If the Deputy wishes to re-submit a question after discussing the matter with officials, I would be pleased to provide him with a targeted response.

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