Cuts to USC would cost State €1.6bn

The State would lose out on at least €1.6bn in revenue if it cut the deeply unpopular universal social charge for people earning €60,000 or less a year.

Finance Minister Michael Noonan revealed that the impact of any attempt to lessen the pressure on struggling families after the move was proposed by opposition TDs.

In a formal parliamentary question response to People Before Profit member Richard Boyd Barrett, Mr Noonan said since coming to power the Coalition has raised the universal social charge income exemption level from €4,004 a year to €12,012 a year. This move has taken more than 400,000 people out of the USC net.