Gary Gannon (Dublin Central, Social Democrats)
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473. To ask the Minister for Employment Affairs and Social Protection the estimated yield from increasing employers' PRSI on the balance of incomes over €100,000; and if she will make a statement on the matter. [38048/21]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The higher rate of employer social insurance contribution is currently 11.05% of employee earnings and  includes a National Training Fund levy of 1%.

I understand that the Deputy’s office has clarified that the question relates to a 1% increase in the higher rate of the employer social insurance contribution.

Based on the data available in respect of 2019, the estimated additional annual revenue that could be raised by increasing the higher rate of the employer social insurance contribution by 1%, from 11.05% to 12.05%, on earnings in excess of €100,000 per annum would be approximately €58.3 million.

However, this estimate does not take into account any possible changes in employer behaviour arising from increasing the social insurance rate in this manner.  Nor does it take into consideration any of the impacts arising from the measures being taken to deal with the COVID-19 pandemic.

I trust this clarifies the matter for the Deputy.