Dáil Éireann Debate, Thursday - 19 November 2020
266. Deputy Rose Conway-Walsh asked the Minister for Further and Higher Education, Research, Innovation and Science the estimated surplus of the National Training Fund for 2020; the total surplus of the National Training Fund at the end of 2019; and if he will make a statement on the matter. [37424/20]
Amharc ar fhreagraThe surplus in the National Training Fund (NTF) at the end of 2019 amounted to €740.1 million. This surplus is expected to grow by €22 million by the end of 2020, a much lower rate of growth than in previous years and significantly below start-of-year projections. Income from the NTF levy in 2020 is likely to be less than in 2019 despite a rise in the rate of the levy of 0.1%. The surplus would have fallen in 2020 without the increase in the levy rate.
There has been very substantial growth in NTF spending in recent years on the basis of the 0.3% increase in the Training Levy between 2018 and 2020 with expenditure increasing by €190 million in this timeframe. This has supported a very significant expansion in investment in skills priorities.
The accumulated surplus in the NTF has previously been critical in maintaining expenditure levels, particularly in the provision of training of those seeking employment, in recession years when NTF income declined. Currently standing at approximately one year's expenditure at current levels, the surplus has been important in resourcing my Department's contribution to the July Jobs Stimulus and to increasing investment in Budget 2021 in skills and training priorities arising from the pandemic.
