Wednesday, 26 July 2017
Department of Employment Affairs and Social Protection
Social Insurance Yield
1471. To ask the Minister for Employment Affairs and Social Protection the amount that would be collected if both current bands of employers' PRSI were increased by 2%. [36309/17]
1472. To ask the Minister for Employment Affairs and Social Protection the amount that would be collected if a new PRSI rate of 19.75% was introduced for employers hiring staff that earn more than €100,000. [36310/17]
I propose to take Questions Nos. 1471 and 1472 together.
|% Increase in|
|Increased Yield from Increase in 8.5% Lower Rate||Increased Yield from Increase in 10.75% Higher Rate||Total|
The estimated yield from increasing the higher PRSI rate of 10.75% to 19.75% for employees earning over €100,000 per annum (applied only earnings over €100,000) is €607m.
These estimates are based on the latest available data and reflect macro-economic indicators for 2018. It should be noted that these estimates do not take possible changes in employer behaviour arising from increasing the rates of contributions into account.