Pearse Doherty
Ceist:216. Deputy Pearse Doherty asked the Minister for Education and Skills the revenue raised by increasing the national training fund levy from 0.7% to 1% and 2% and 5%, respectively. [48959/18]
Amharc ar fhreagraTuesday, 27 November 2018
Ceisteanna (216)
Freagraí scríofa
In Budget 2018, the National Training Fund (NTF) levy was increased by 0.1 per cent in 2018 to 0.8 per cent – providing over €47m of additional investment in the Higher and Further Education Sectors. On foot of decisions taken in Budget 2019, the levy will rise to 0.9 per cent in 2019 (providing an additional €69 million of additional investment in higher and further education and training) and to 1 per cent in 2020.
The net additional expenditure available from increases in the levy is lower than the gross revenue yield as, under the fiscal rules, the calculation of such increases must take account of the increased costs which arise for public sector employers.
As requested by the Deputy, the following table provides indicative estimates of the full year yield from different rates of National Training Fund contributions using 2018 as the base year.
|
2018 Estimated Revenue from different NTF levy rates |
Estimated Amount from an Increase in 0.70% NTF levy rate |
|
|
0.70% |
€503m |
|
|
1.00% |
€719m |
€216m |
|
2.00% |
€1,438m |
€935m |
|
5.00% |
€3,595m |
€3,092m |