Written answers
Tuesday, 14 July 2015
Department of Social Protection
Social Insurance Yield
Pearse Doherty (Donegal South West, Sinn Fein)
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221. To ask the Minister for Social Protection the yield from each of a 1%, 2% and 3% increase in employee pay related social insurance in the first year and full year. [28802/15]
Pearse Doherty (Donegal South West, Sinn Fein)
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222. To ask the Minister for Social Protection the yield from each of a 1%, 2% and 3% increase in employer pay related social insurance in the first year and in a full year. [28803/15]
Joan Burton (Dublin West, Labour)
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I propose to take Questions Nos. 221 and 222 together.
On the basis of the most up to date figures available, the table below shows the estimated yield for each of a 1%, 2% and 3% in increase in class A employee and employer PRSI in the first year and a full year.
Class A Employee PRSI Yield | Class A Employer PRSI Yield | |||
---|---|---|---|---|
Rate increase | First Year | Full Year | First Year | Full Year |
€m | €m | €m | €m | |
1% | 487.5 | 573.5 | 511.8 | 602.1 |
2% | 975.0 | 1147.0 | 1023.6 | 1204.2 |
3% | 1462.5 | 1720.5 | 1535.4 | 1806.3 |
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