Pearse Doherty
Question:166. Deputy Pearse Doherty asked the Minister for Finance the cost of abolishing the universal social charge on all income up to €80,000 per year and applying it only to the amount above that. [15625/16]
View answerTuesday, 14 June 2016
Questions (166)
Written answers
I am advised by Revenue that the first and full year costs to the Exchequer of abolishing Universal Social Charge (USC) on all incomes up to €80,000 per year and applying USC to the amount above €80,000 where income exceeds €80,000 are estimated to be in the order of €1,988 million and €2,747 million respectively.
These figures are estimates from the Revenue tax forecasting model using latest actual data for the year 2013, adjusted as necessary for income, self-employment and employment trends in the interim. They are estimated by reference to 2016 incomes and are provisional and may be revised.