I propose to take Questions Nos. 158 and 159 together.
I am advised by Revenue of the estimated costs for the proposals outlined by the Deputy on a first and full year basis. They are shown in the below table.
As a reduced rate of USC of 2% currently applies for those aged over 70 years with income of €60,000 or less and for those who hold a full medical card with income of €60,000 or less, the estimated costings also include a decrease in the reduced rate of USC from 2% to 1% and 0% respectively, for consistency.
Proposed Measure
|
First Year Cost €m
|
Full Year Cost €m
|
First and second USC rates reduced to 0%, and the threshold to the third rate of USC increased from €25,760 to €30,000
|
985
|
1,135
|
First rate of USC reduced to 0%, second rate of USC to 1% and the threshold to the third rate of USC increased from €25,760 to €27,880
|
530
|
610
|