Dáil Éireann Debate, Tuesday - 14 December 2021
474. Deputy Catherine Murphy asked the Minister for Further and Higher Education, Research, Innovation and Science the estimated projected yield from a 0.2% increase in 2022 in the national training fund levy. [61276/21]
View answerThe National Training Fund (NTF) Act, 2000 provides for a levy on employers to be used to fund the development of and raising of skills amongst those in, or seeking, employment.
The 2022 estimate for NTF income from PRSI receipts is €851.2 million. This estimate is based on a rate of 1% of reckonable earnings in 2022 and forecasted by the Department of Employment Affairs and Social Protection at Budget 2022. On the basis of this estimate, an increase of 0.2% in the rate of contributions would generate €156 million in a full year.
|
Year |
NTF Levy Rate |
NTF Levy Income Actuals |
NTF Levy Income Forecast |
Projected Yield for a 0.2% increase in NTF levy |
|
2022 |
1% |
Not yet available |
€851m |
€156m |
It should be noted that the last increase to the national training fund levy was 0.1% in 2020 which resulted in an increase to the 2020 NTF spending limit of €74m. An increase to the levy is not being contemplated at this time.
