Tuesday, 5 November 2019

Questions (144)

Catherine Murphy

Question:

144. Deputy Catherine Murphy asked the Minister for Finance the estimated full year cost of removing USC for earnings up to €18,000. [44999/19]

View answer

Written answers (Question to Finance)

I am advised by Revenue that the estimated first and full year cost to the Exchequer of increasing the USC threshold from €13,000 to €18,000 is €31 million and €37 million, respectively.

This estimate was generated by reference to 2020 incomes, calculated on the basis of actual data for 2017, the latest year for which returns are available. The data was adjusted as necessary for income, self-employment and employment interim trends and as such are provisional and may be subject to revision.