Dáil Éireann Debate, Thursday - 23 March 2017
64. Deputy Pearse Doherty asked the Minister for Finance the expected revenue that would be raised by USC in the year 2021 based on a no-policy-change basis and the relevant economic forecasts; and if he will make a statement on the matter. [14646/17]
View answerThe most recent economic and budgetary forecasts prepared by my Department were published as part of Budget 2017. On that basis, and assuming a no policy change, which does not take account of the allocation of fiscal space beyond T+1, the expected Universal Social Charge (USC) yield would be in the region of €5.2 billion in 2021. This expected increase in USC yield is driven by the projected rise in wage and employment growth over the forecast horizon.
Finally, as the Deputy will appreciate these figures are expected to change as part of the upcoming Stability and Programme Update, in April this year, which will incorporate the most up-to-date macro-economic data.
