Dáil Éireann Debate, Tuesday - 11 October 2022
565. Deputy Joe McHugh asked the Minister for Further and Higher Education, Research, Innovation and Science if he will outline the financial projections of the national training fund up to 2025; and if he will make a statement on the matter. [49816/22]
Amharc ar fhreagraThe National Training Fund (NTF) established by the National Training Fund Act, 2000, is a dedicated fund to support the training of those in employment and those seeking employment. The Act also provides for the funding of research to provide information on existing and likely future skills requirements of the economy. Funding from the 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 National Training Fund Act 2000 provides for a levy on employers to be used to fund the development of and raising of skills amongst those in, or seeking, employment. 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 National Training Fund.
The National Training Fund also receives income from the European Social Fund (ESF) in respect of ESF co-financed activities that have been pre-financed from the NTF. The level of ESF receipts to the NTF in any year depends on the amounts certified to, and reimbursed by the Commission in that year in respect of NTF funded activities.
The following table shows financial projections for the National Training Fund up to 2025.
|
2021 Actual Position |
2022 Forecast |
2023 Forecast |
2024 Forecast |
2025 Forecast |
|
|
Total Projected income A |
879,250 |
946,600 |
1,020,941 |
1,087,841 |
1,159,741 |
|
Expenditure held flat (as at Budget 2023) |
594,188 |
765,073 |
682,542 |
682,542 |
682,542 |
|
Projected Surplus/(Deficit) for the year |
285,062 |
181,527 |
338,399 |
405,299 |
477,199 |
|
Balance brought forward at 1 January 2021 b |
817,464 |
||||
|
Surplus carried forward as at 31 December (projected) |
1,102,526 |
1,284,053 |
1,622,452 |
2,027,751 |
2,504,950 |
A - PRSI receipts from 2022 onwards forecasted by DSP at Budget 2022, ESF 2022 income as at Revised Estimates 2022, Income from ESF 2023 onwards based on Budget 2023 Forecast
B - Surplus brought forward at Jan 2021 from NTF 2020 Accounts.
