I propose to take Questions Nos. 301 and 302 together.
I am advised by Revenue that the following table sets out the estimated costs to the Exchequer, on a first and full year basis, of the scenarios outlined in the table.
Scenario
|
First Year Cost
€m
|
Full Year Cost
€m
|
Increase 2nd USC band upper limit by €2,027
|
75
|
85
|
Increase 2nd USC band upper limit by €4,055
|
145
|
165
|
I am further advised by Revenue that the table below sets out the estimated costs to the Exchequer, on a first and full year basis, of the different scenarios outlined in the table. For the purposes of these estimates, the 2% rate of USC was reduced to 1% and the 1% rate applied to the full revised band.
Scenario
|
First Year Cost
€m
|
Full Year Cost
€m
|
Increase 2nd USC band upper limit by €2,027 and reduce the rate to 1%
|
305
|
350
|
Increase 2nd USC band upper limit by €4,055 and reduce the rate to 1%
|
400
|
460
|