Dáil Éireann Debate, Tuesday - 14 July 2020
694. Deputy Kathleen Funchion asked the Minister for Employment Affairs and Social Protection the estimated amount of additional revenue that would be generated if the 2.6% PRSI of classes B, C or D increased to 3% or a minimum of €315. [15614/20]
View answerIt is understood from clarification received from the Deputy that the question refers to both employer and employee PRSI charges increasing to 3% or a minimum payment of €315.
It is estimated that an increase to the employee and employer rates of PRSI to 3% for PRSI Classes B, C and D would yield additional full year revenue of €70m.
Applying a minimum payment of €315, based on current rates, for employees and employers in respect of Classes B, C and D would yield an estimated additional full year revenue of €1.4m.
These estimates are based on the latest available data and reflects macro-economic indicators for 2020.
Theses estimates do not take into account any possible changes in contributor behaviour arising from increasing the rates of contribution.
I trust this clarifies the matter for the Deputy.
