Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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72. To ask the Minister for Finance the full year cost of abolishing the universal social charge for persons earning less than €90,000. [29258/20]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that the estimated first and full year cost to the Exchequer of exempting all persons earning below €90,000 from the Universal Social Charge (USC) is €1.6 billion and €1.8 billion, respectively.

These projections have been generated by reference to estimated 2021 incomes, calculated on the basis of actual data for the year 2018, the latest year for which returns are available. They are adjusted as necessary for income, self-employment and employment trends in the interim.