Dáil Éireann Debate, Tuesday - 13 November 2012
249. Deputy Brendan Ryan asked the Minister for Finance if he will itemise the way the money collected from the universal social charge is used; if it entitles persons to specific benefits and entitlements; and if he will make a statement on the matter. [50077/12]
View answerThe Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. USC receipts form part of income tax and are paid into the Central Fund. They are therefore available, along with other sources of tax revenue, non-tax revenue and capital receipts as well as the funds sourced from borrowing, to fund overall Exchequer expenditure.
Individuals that are subject to the USC charge do not accumulate entitlements or specific benefits but do benefit from the services provided by the State.
