Written answers
Tuesday, 27 September 2016
Department of Social Protection
Social Insurance Yield
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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365. To ask the Minister for Social Protection the projected yield if employer’s PRSI were to be raised to 2%, by 4% and by 6% across all employers. [27502/16]
Leo Varadkar (Dublin West, Fine Gael)
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In general, employers of class A employees pay PRSI at the rate of 10.75%, or at the rate of 8.5% where the employee’s weekly earnings are €376 or less.
It is presumed that Deputy is referring to a 2% increase in both rates of class A employer PRSI, as well as increases of 4 % and 6% in these class A employer PRSI rates.
On this basis, the information requested by the Deputy is contained in the following table.
Employer PRSI Rate Increase | 2% | 4% | 6% |
---|---|---|---|
Full Year Yield | €1,342.8 million | €2,687.7 million | €4,028.5 million |
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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366. To ask the Minister for Social Protection the projected yield if employer’s PRSI were to be raised to 13.75% on the portion of employee's income above €100,000. [27503/16]
Leo Varadkar (Dublin West, Fine Gael)
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In general, employers of class A employees pay PRSI at the rate of 10.75%, or at the rate of 8.5% where the employee’s weekly earnings are €376 or less.
A 3% increase in the 10.75% rate of class A employer PRSI to 13.75%, for earnings in excess of €100,000, would yield the following:-
New Employer Rate of 13.75% for Earnings over €100,000 | Full Year Yield | Employments Affected |
---|---|---|
13.75% | €198.8 million | 226,115 |
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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367. To ask the Minister for Social Protection the projected yield if employer’s PRSI were to be raised to 19.75% on the portion of employees income above €100,000. [27504/16]
Leo Varadkar (Dublin West, Fine Gael)
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In general, employers of class A employees pay PRSI at the rate of 10.75%, or at the rate of 8.5% where the employee’s weekly earnings are €376 or less.
An increase in the 10.75% rate of class A employer PRSI to 19.75%, for earnings in excess of €100,000, would yield the following:-
New Employer Rate for Earnings over €100,000 | Full Year Yield | Employments Affected |
---|---|---|
19.75% | €596.5 million | 226,115 |
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