Fixing USC ‘anomaly’ could raise €70m for exchequer

Fixing an “anomaly” in the universal social charge system could raise more than €70m for the exchequer and shift more of the tax burden to the wealthy, a Labour TD has said.

Arthur Spring, who is also a member of Oireachtas finance committee, said the USC should be “made more progressive” by extending the 3% surcharge to all income over €100,000.

All individuals are liable to pay the USC at varying rates if their gross income exceeds €10,036 a year.