Dáil Éireann Debate, Tuesday - 26 July 2022
1209. Deputy Pearse Doherty asked the Minister for Social Protection the estimated revenue that would be generated in 2023 from increasing the rate of employers’ PRSI from 11.05% to 12.05%, 13.05% and 13.5%, respectively, on the portion of individual salaries in excess of €100,000. [40079/22]
Amharc ar fhreagraBased on 2019 data to include projected growth in income and earnings the following table provides the estimated revenue that would be generated in 2023 from increasing the rate of employers’ PRSI from 11.05% to 12.05%, 13.05% and 13.5%, respectively, on the portion of individual salaries in excess of €100,000.
|
Percentage (portion over €100,000) |
Yield (€m) |
|
11.05% |
€ - |
|
12.05% |
€ 74.3 |
|
13.05% |
€ 148.5 |
|
13.50% |
€ 181.9 |
The estimates being provided relate to 2019 data as it is considered that the data relating to 2020 and 2021 are inappropriate for estimating given the level of disruption to employment-related activity arising from the Covid-19 pandemic during those two years.
These estimates do not take into account any possible changes in employer behaviour arising from changing the rate of employer PRSI contribution.
I trust this clarifies the matter for the Deputy.
