Vol. 462 No. 2
203 Mr. O'Dea asked the Minister for Social Welfare the cost of the increase in the amount disregarded for full rate PRSI from the first £50 per week to the first £80 per week and the increase in the amount disregarded for modified PRSI rate from the first £10 per week to the first £20 per week will cost in a full year. [4468/96]
The cost of the increase in the amount disregarded for full rate employees' PRSI from the first £50 per week to the first £80 per week is estimated to be £65 million in a full year.
The cost of the increase in the modified rate/self-employed PRSI-free allowance is estimated to be £4.4 million in a full year.
204 Mr. O'Dea asked the Minister for Social Welfare the amount the reduction in the higher rate of employees PRSI from 12.2 per cent to 12 per cent and a lower rate from 9 per cent to 8.5 per cent will cost in a full year; and the amount the increase in the ceiling for employers' PRSI from £25,800 per annum to £26,800 will yield in a full year. [4469/96]
I assume that the Deputy is referring to employers' PRSI.
The reduction in the higher rate of employers PRSI from 12.2 per cent to 12 per cent is estimated to cost £15 million in a full year. The reduction in the lower rate of employers' PRSI from 9 per cent to 8.5 per cent is estimated to cost £16 million in a full year.
The increase in the employers' PRSI ceiling from £25,800 to £26,800 represents indexation and will not generate any additional yield to the social insurance fund. The loss to the social insurance fund would have been over £7 million per annum had the ceiling not been indexed.
