Written answers

Tuesday, 26 September 2017

Department of Employment Affairs and Social Protection

Social Insurance Yield

Photo of Paul MurphyPaul Murphy (Dublin South West, Solidarity)
Link to this: Individually | In context | Oireachtas source

496. To ask the Minister for Employment Affairs and Social Protection the estimated increase in revenue that would result from an increase in the existing two bands of PRSI by 2%, discounting employer's PRSI paid from the public purse; and if she will make a statement on the matter. [40571/17]

Photo of Paul MurphyPaul Murphy (Dublin South West, Solidarity)
Link to this: Individually | In context | Oireachtas source

497. To ask the Minister for Employment Affairs and Social Protection the estimated increase in revenue that would result from an increase in the current 8.5% rate of employer's PRSI to 10.5%, an increase of the 10.75% rate to 12.75% and the introduction of a new band for employers hiring employees on more than €100,000 of 19.75%; the further estimated increase in net revenue from this change, discounting employer's PRSI paid from the public purse; and if she will make a statement on the matter. [40572/17]

Photo of Regina DohertyRegina Doherty (Meath East, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 496 and 497 together.

The following table sets out the estimated increase in the PRSI yield to the Social Insurance Fund from the measures detailed by the Deputy:

MeasureYield
Increase in the existing two bands of Class A employer PRSI by 2% by:

- increasing the 8.5% rate of employer's PRSI to 10.5% and- increase the 10.75% employer rate to 12.75%
€1,438.9m
Increase 8.5% rate of Class A employer's PRSI to 10.5%, 10.75% rate to 12.75% and the introduction of a 19.75% for those earning over €100,000 (payable on the earnings in excess of €100,000 only)€1,910.2

Without extensive cross referencing to identify individual employed contributors in the civil and public sector, in the time available it is not possible to identify civil and public sector employees earning in excess of €100,000 to facilitate discounting employer's PRSI paid from the public purse.

These estimates are based on PRSI Class A contributors. They use the latest available data and reflect macro-economic indicators for 2018. It should be noted that the estimate does not take into account any possible changes in employer behaviour arising from changing rates of contribution.

Comments

No comments

Log in or join to post a public comment.