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Universal Social Charge

Dáil Éireann Debate, Tuesday - 15 June 2021

Tuesday, 15 June 2021

Questions (101)

Éamon Ó Cuív

Question:

101. Deputy Éamon Ó Cuív asked the Minister for Finance the estimated cost to the Exchequer of not charging any USC on the first €13,000 of assessable income; and if he will make a statement on the matter. [31514/21]

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Written answers

Ireland has one of the most progressive personal income tax systems in the world, which plays a crucial role in the process of income redistribution. Our redistributive tax system has been acknowledged by the IMF, the OECD and the ESRI. It is my view that a broad-based, progressive income tax system, where the majority of income earners make some contribution but according to their means, is the most fair and sustainable income tax system in the long term.

To answer the Deputy's specific question, I am advised by Revenue that the estimated costs associated with the first €13,000 of income being exempt from USC are €157m and €181m on a first and full year basis, respectively.

Question No. 102 answered with Question No. 65.
Question No. 103 answered with Question No. 78.
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