Written answers
Tuesday, 21 May 2019
Department of Employment Affairs and Social Protection
Social Insurance Rates
Pearse Doherty (Donegal, Sinn Fein)
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618. To ask the Minister for Employment Affairs and Social Protection the estimated cost of an increase in bands of employer's and employee's PRSI to reflect a minimum wage of €11.80 per hour. [21930/19]
Regina Doherty (Meath East, Fine Gael)
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The information requested by the Deputy is currently being compiled and calculated by the Department and will be provided to the Deputy as soon as it becomes available.
Pearse Doherty (Donegal, Sinn Fein)
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619. To ask the Minister for Employment Affairs and Social Protection the estimated revenue that would be raised by introducing a new employers’ rate of PRSI of 12.75%, 13.75%, 14.75% and 15.75%, respectively on the portion of salary paid in excess of €100,000 per annum. [21950/19]
Regina Doherty (Meath East, Fine Gael)
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The information requested by the Deputy is contained in the following table.
Increase in Employer PRSI rate on earnings over €100,00 to: | Yield | Employments affected |
---|---|---|
12.75% | €127.0m | 251,592 |
13.75% | €197.6m | 251,592 |
14.75% | €268.1m | 251,592 |
15.75% | €338.7m | 251,592 |
These estimates are based on PRSI Class A contributions. They use the latest available data and reflect macro-economic indicators.
It should be noted that these estimates do not take into account any possible changes in employer behaviour arising from changing rates of contribution.
I hope this clarifies the matter for the Deputy.
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