Minister for Finance, Michael Noonan, T.D. and Minister for Public Expenditure & Reform, Paschal Donohoe, T.D. today delivered their Budget speeches, in which they have laid out a number of measures aimed at “repairing the damage done to our economy in the past and to ensure that we can look forward to a new Ireland with an equitable tax system that provides sustainable funding for efficient and effective world class public services”.
Some of the key measures announced in Budget 2017 were incentives for first time buyers, social welfare payments increased by €5 per week and each of the three lowest rates of the Universal Social Charge are to be reduced by half a percent.
Additional spending announced for health, education and Justice with recruitment of extra teachers and Garda. In addressing the housing crisis, €1.2bn in funding announced with 47,000 new social housing units by 2021.
Excise duty on pack of 20 cigarettes to go up by 50 cents while alcohol, petrol and diesel excise duty remain unchanged.