Dáil Éireann Debate, Tuesday - 26 July 2022
1175. Deputy Richard Boyd Barrett asked the Minister for Social Protection the estimated full-year revenue that would be generated by increasing the 11.05% employers PRSI rate to 13.05% on salaries paid below €90,000 per year; and if she will make a statement on the matter. [41559/22]
View answerI understand that the Deputy has clarified the question to mean that there would be no change to the current employer rate of 8.8% which applies to all weekly earnings from €38 up to and including €410; that there would be an increase of 2% to the current employer rate of 11.05% which applies to all weekly earnings over €410 up to and including €1,731; and that there would be a new additional employer rate of 19.75% on the portion of weekly earnings over €1,731.
The estimated additional revenue that would be raised by increasing the 11.05% employer rate of PRSI by 2% to 13.05% and by introducing a new employer PRSI rate of 19.75% for incomes over €90,000 per year would be €2.38 billion.
This estimate does not take into account any possible changes in employer behaviour arising from increasing the PRSI rates.
I trust this clarifies the matter for the Deputy.
