Dáil Éireann Debate, Thursday - 8 September 2022
1346. Deputy Ged Nash asked the Minister for Further and Higher Education, Research, Innovation and Science the estimated additional yield to the National Training Fund from a 0.1% increase in the NTF levy in 2023; and if he will make a statement on the matter. [43755/22]
Amharc ar fhreagraFunding from the National Training Fund (NTF) is allocated by my Department with the consent of the Minister for Public Expenditure and Reform, in accordance with the provisions of the National Training Fund Act, 2000.
The NTF levy is collected by the Revenue Commissioners as part of the PRSI collection system. The funds collected are included in the transfer of gross PRSI from the Revenue Commissioners to the Social Insurance Fund of the Department of Social Protection (DSP). Each year DSP undertakes an apportionment exercise to analyse PRSI collection data and to apportion funds to the Social Insurance Fund; the Health Levy and the NTF.
The 2022 published Revised Estimate for the NTF forecasts income in 2022 to be €851.24 million. An increase of 0.1% of the levy in 2023 would yield €0.851 million additional income for the fund, bringing the fund to €852.09 million.
It should be noted that the last increase to the national training fund levy was 0.1% in 2020 bring the rate to 1%.
