I am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2013 incomes, of a 1, 2, and 3 percentage point increase in the rate of Universal Social charge (USC) applying to the incomes of PAYE income earners exceeding €80,000 would be of the order of €34 million, €68 million and €102 million respectively. The Universal Social Charge is an individualised charge and as such, the estimated yields are based on individual incomes of more than €80,000. The estimated yields are based on confining the 1, 2 and 3 percentage point increases to the portion of income which is in excess of €80,000, that is, the increase is not applied to the portion of total income earned up to €80,000.
The figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2010 adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and likely to be revised.