Dáil Éireann Debate, Tuesday - 26 September 2023
388. Deputy Ged Nash asked the Minister for Social Protection the projected yield in 2024 from increasing the employers' PRSI rate of 11.05% by 1%, and what the full year yield in 2025 would be; how many people would be impacted; and if she will make a statement on the matter. [41538/23]
View answerThe estimated additional yield that could be raised from increasing the higher employers' PRSI rate of 11.05% to 12.05% while leaving the lower employers' rate unchanged at 8.8% would be €910 million in 2024 and €964 million in 2025. The estimated number of employments impacted by the increase would be 1.95 million in 2024 and 2.05 million in 2025.
The 2024 estimate is a full year figure as my Department does not have a first year estimate given that such an estimate would require a fuller analysis to be undertaken.
These estimates do not take into account any possible changes in employer behaviour arising from changing the rate of employers' PRSI.
I trust this clarifies the matter for the Deputy.
