Dáil Éireann Debate, Tuesday - 30 June 2015
212. Deputy Aengus Ó Snodaigh asked the Tánaiste and Minister for Social Protection the estimated revenue that would be raised in 2016 if the rate of employer's pay related social insurance was increased by 1% on pay up to €100,000 per annum and increased to 15.75% on pay exceeding €100,000 per annum. [26385/15]
View answerThe estimated revenue that would be raised in a full year if the Class A rate of employer's PRSI contribution was increased by 1% on pay up to €100,000 per annum and increased to 15.75% on pay exceeding €100,000 per annum would be €816m. The yield in 2016 would be approximately 85% of the full year yield.
This is on the basis that the rates of 8.5% and 10.75%, as currently applied, would increase to 9.5% and 11.75%, respectively, and that the 15.75% rate would only apply to the income in excess of €100,000.
These costings do not take into account any resultant changes in employer and employee behaviour.
