Dáil Éireann Debate, Wednesday - 9 September 2020
209. Deputy Ged Nash asked the Minister for Further and Higher Education, Research, Innovation and Science the projected yield from a 0.1% increase in 2021 in the national training fund levy; and if he will make a statement on the matter. [22931/20]
Amharc ar fhreagraThe projected additional yield from a 0.1% increase in 2021 in the national training fund levy would be €72.4 million. This is based on a projected NTF levy income of €724 million in 2021 at the existing 1% levy rate which would increase to €796.4 million if the rate was increased by 0.1% to 1.1%.
It should be noted that in line with a Government commitment, the NTF levy increased by 0.1% in each of the three years from 2018 to 2020. This meant that the rate rose from 0.7% in 2017 to 1% in 2020. It should also be noted that only the contributions from the private sector estimated yield increases are taken into account when increasing the national training fund spending limits.
