Written answers
Tuesday, 9 April 2024
Department of Employment Affairs and Social Protection
Social Insurance
Pearse Doherty (Donegal, Sinn Fein)
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767. To ask the Minister for Employment Affairs and Social Protection further to Parliamentary Question No. 463 of 12 December 2023, the estimated revenue that will be raised in each of the years 2024 to 2030 by the proposed increases in all classes of PRSI, disaggregated by PRSI class, employer, employee and self-employed, in each scenario (details supplied), in tabular form. [14401/24]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The tables below set out the estimated PRSI yield that would be raised for each of the rate increases in the years concerned.
In calculating the estimated yield from the specified employer PRSI rates on the portion of earnings in excess of €100,000 for classes A,B,C,D,E and H a 'netting off' approach has been taken to ensure there is no double-counting. The net yield is the difference between the "in excess of €100,000 rate" and the "standard" employer PRSI rates specified by the Deputy for classes A,B,C,D,E and H in the table.
These estimates do not take into account any possible behavioural changes in response to the higher PRSI rates being modelled.
I trust this clarifies the matter for the Deputy.
Scenario A:
| PRSI classes | 2024 rate | 2024 full-year estimated yield | 2025 rate | 2025 full-year estimated yield | 2026 rate | 2026 full-year estimated yield | 2027 rate | 2027 full-year estimated yield | 2028 rate | 2028 full-year estimated yield | 2029 rate | 2029 full-year estimated yield | 2030 rate | 2030 full-year estimated yield |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| A (employer) | 8.8%/11.05% | 0 | 8.8%/11.05% | 0 | 9.1%/11.35% | 360 | 9.4%/11.65% | 750 | 9.9%/12.15% | 1430 | 9.9%/12.15% | 1490 | 9.9%/12.15% | 1540 |
| B (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| B (employer) | 2.01% | 0 | 2.01% | 0 | 2.31% | 0 | 2.61% | 10 | 3.01% | 10 | 3.01% | 10 | 3.01% | 10 |
| C (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| C (employer) | 1.85% | 0 | 1.85% | 0 | 2.15% | 0 | 2.45% | 0 | 2.95% | 0 | 2.95% | 0 | 2.95% | 0 |
| D (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| D (employer) | 2.35% | 0 | 2.35% | 0 | 2.65% | 10 | 2.95% | 20 | 3.45% | 40 | 3.45% | 40 | 3.45% | 40 |
| E (employee) | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 |
| E (employer) | 6.87% | 0 | 6.87% | 0 | 7.17% | 0 | 7.47% | 0 | 7.97% | 0 | 7.97% | 0 | 7.97% | 0 |
| H (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| H (employer) | 10.35% | 0 | 10.35% | 0 | 10.65% | 0 | 10.95% | 0 | 11.45% | 10 | 11.45% | 10 | 11.45% | 10 |
| Employer PRSI: Classes A, B, C, D, E & H on the portion of individual incomes in excess of €100,000* | 13.05% | 260 | 13.55% | 330 | 14.05% | 370 | 14.55% | 410 | 15.05% | 430 | 15.05% | 450 | 15.05% | 460 |
| J | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 |
| K | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| M | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 |
| S | 4.10% | 20 | 4.20% | 30 | 4.35% | 60 | 4.50% | 100 | 4.70% | 140 | 4.70% | 150 | 4.70% | 150 |
| P | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| Total | 280 | 360 | 800 | 1290 | 2060 | 2150 | 2210 |
Scenario B:
| PRSI classes | 2024 rate | 2024 full-year estimated yield | 2025 rate | 2025 full-year estimated yield | 2026 rate | 2026 full-year estimated yield | 2027 rate | 2027 full-year estimated yield | 2028 rate | 2028 full-year estimated yield | 2029 rate | 2029 full-year estimated yield | 2030 rate | 2030 full-year estimated yield |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| A (employer) | 8.9%/11.15% | 110 | 9%/11.25% | 230 | 9.1%/11.35% | 360 | 9.2%/11.45% | 500 | 9.3%/11.55% | 650 | 9.3%/11.55% | 680 | 9.3%/11.55% | 700 |
| B (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| B (employer) | 2.11% | 0 | 2.21% | 0 | 2.31% | 0 | 2.41% | 0 | 2.51% | 10 | 2.51% | 10 | 2.51% | 10 |
| C (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| C (employer) | 1.95% | 0 | 2.05% | 0 | 2.15% | 0 | 2.25% | 0 | 2.35% | 0 | 2.35% | 0 | 2.35% | 0 |
| D (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| D (employer) | 2.45% | 0 | 2.55% | 10 | 2.65% | 10 | 2.75% | 10 | 2.85% | 20 | 2.85% | 20 | 2.85% | 20 |
| E (employee) | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 | 3.33% | 0 |
| E (employer) | 6.97% | 0 | 7.07% | 0 | 7.17% | 0 | 7.27% | 0 | 7.37% | 0 | 7.37% | 0 | 7.37% | 0 |
| H (employee) | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| H (employer) | 10.45% | 0 | 10.55% | 0 | 10.65% | 0 | 10.75% | 0 | 10.85% | 0 | 10.85% | 0 | 10.85% | 0 |
| Employer PRSI: Classes A, B, C, D, E & H on the portion of individual incomes in excess of €100,000* | 13.05% | 240 | 13.55% | 300 | 14.05% | 370 | 14.55% | 440 | 15.05% | 520 | 15.05% | 540 | 15.05% | 550 |
| J | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 | 0.50% | 0 |
| K | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| M | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 | 0% | 0 |
| S | 4.10% | 20 | 4.20% | 30 | 4.35% | 60 | 4.50% | 100 | 4.70% | 140 | 4.70% | 150 | 4.70% | 150 |
| P | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 | 4.00% | 0 |
| Total | 370 | 570 | 800 | 1050 | 1340 | 1400 | 1430 |
*revenue generated with respect to the rates of employer PRSI across classes A, B, C, D, E and H on the portion of individual incomes in excess of €100,000 net the revenue generated with respect to the standard rates of employer PRSI across classes A, B, C, D, E and H.
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