Richard Boyd Barrett
Ceist:358. Deputy Richard Boyd Barrett asked the Minister for Finance the full year cost of abolishing the universal social charge; and if he will make a statement on the matter. [35016/18]
Amharc ar fhreagraTuesday, 24 July 2018
Ceisteanna (358)
Freagraí scríofa
The loss to the Exchequer from abolishing USC would depend upon a number of factors, inter alia, the year in which it would end, labour market developments, and so on.
In 2018, the Universal Social Charge (USC) is projected to raise approximately €3.7 billion in Exchequer receipts terms. This represents approximately 17% of total expected income tax receipts and approximately 6% of the total expected tax receipts for 2018 based on Budget 2018 projections.