Budget Day came and went. The men and women within the Dail chambers spoke and debated, as they always do on days like today.
There are winners and there are losers; in the financial battlefield, there is no no-man’s land.
So come hither and read all you ought to know about today’s Budget revelations:
USC
2% USC rate will be reduced to 1.5%
4% USC rate reduced to 3.5%
Entry point to USC will be raised to €12,000. This will effectively means that about 80,000 workers will be removed from the USC altogether.
Income tax
Top rate of income tax reduced from 41% to 40%
Increase of €1,300 to €33,800 for a single person’s standard income tax rate.
VAT
The 9% VAT rate for the tourism industry has been retained.
Pensions
The 0.6% pension levy will be abolished by the end of this year. Additional 0.15% levy for 2014 and 2015 will be abolished by the end of 2015.
Corporation tax
Standard corporation tax of 12.5% remains unchanged.
‘The old reliables’
40c will be added to the price of packet of cigarettes from tonight onwards.
20c will be added to the price of roll-your-own tobacco.
Alcohol excise does not change.
Motoring: No changes to VRT, petrol, diesel, or motor tax.
Child Benefit: Child benefit to be raised by €5 per child.
Christmas Bonus: 25% of the social welfare Christmas bonus has been reinstated.