€60m package to reduce employers’ PRSI being devised by government
Sources also confirmed that any changes to the National Training Fund would not take place until the next budget
A €60 million plan to update the higher rate of employers PRSI to reflect the new minimum wage is being worked up by the government.
However, a cut to the National Training Fund (NTF) levy, which is also collected through PRSI, is not on the cards. Policy changes that would allow the fund’s €1.4 billion surplus to be deployed will not happen until the next budget, the Business Post has learned.
The forthcoming change to employers’ PRSI is to make up the centrepiece of a package of business supports due to be delivered as one of Simon Harris’ first tasks as taoiseach in the coming weeks. The supports are being devised after increased costs have hit businesses hard, many of which are due to changed government policy around labour rights and the gradual implementation of a living wage.
