Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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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]

Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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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]

Regina Doherty (Meath East, Fine Gael)
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I propose to take Questions Nos. 1471 and 1472 together.

Currently, Class A employers pay PRSI at the rate of 8.5% where weekly earnings are between €38 and €376. Once weekly earnings exceed €376, the rate of employer PRSI is 10.75%.

The estimated increase in the PRSI yield to the Social Insurance Fund from increasing the class A employer PRSI rates by 2% is provided in the following table:

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.