Written answers

Tuesday, 30 June 2015

Department of Social Protection

Social Insurance Data

Photo of Aengus Ó SnodaighAengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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212. To ask the Minister for Social Protection the estimated revenue that would be raised in 2016 if the rate of employer's pay related social insurance was increased by 1% on pay up to €100,000 per annum, and increased to 15.75% on pay exceeding €100,000 per annum. [26385/15]

Photo of Joan BurtonJoan Burton (Dublin West, Labour)
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The estimated revenue that would be raised in a full year if the Class A rate of employer's PRSI contribution was increased by 1% on pay up to €100,000 per annum and increased to 15.75% on pay exceeding €100,000 per annum, would be €816m. The yield in 2016 would be approximately 85% of the full year yield.

This is on the basis that the rates of 8.5% and 10.75%, as currently applied, would increase to 9.5% and 11.75%, respectively, and that the 15.75% rate would only apply to the income in excess of €100,000.

These costings do not take into account any resultant changes in employer and employee behaviour.

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