Budget 2018 provides highest ever spending on health and education

Kristopher Nichols
October 11, 2017

From April 2018, 30 cent per litre of tax on drinks with over 8g of sugar per 100ml.

This follows a €5 increase in the maximum rate of all weekly payments for 1.5 million beneficiaries that came into force this year as part of the last budget.

Christmas bonus payment of 85% to be paid to all social welfare recipients in 2017.

Cigarettes - An extra 50c charge on a pack of 20.

The Minister for Finance has defended his decision to reduce both USC rates and change tax bands so that fewer people will pay the top rate.

Paschal Donohoe initially had just 350 million euros in spare resources but boosted the final package to 1.2 billion euros.

3,800 new social houses are to be built next year. 4,000 extra social housing units will be brought in next year.

€500 million for direct build programme which will be responsible for 3,000 new social houses by 2021.

Additional €75m of funding for second phase of Local Infrastructure Housing Activation Fund.

A new entity, Home Building Finance Ireland (HBFI), will be created with €750 million from the Ireland Strategic Investment Fund being allocated for commercial investment in housing through this.

Commercial Stamp duty is tripling from 2% to 6% from midnight tonight.

3% levy for 1st year of vacant site to more than double to 7%.

Reduction in seven-year period for owners to enjoy full relief from Capital Gains Tax to four years.

The prescription charge is to be reduced from €2.50 to €2.00 per item.

The threshold for the Drugs Payment Scheme will drop from €144 to €134.

Theresa May finally reveals plans for Britain after Brexit
According to her, they are working hard to attain the status of the free-trading nation and she is very much optimistic about it. Meanwhile, Brexit Secretary David Davis will travel to Brussels today to kick off the fifth round of Brexit talks.

Noel King 'optimistic' ahead of Republic of Ireland U21s clash against Israel
Wales will once again be without the injured Gareth Bale , who watched his team-mates train at the Cardiff City Stadium on Sunday. Martin O'Neill's team must win to have any chance of qualifying for the World Cup finals in Russian Federation next summer.

Spain's Prime Minister May Suspend Catalonia's Autonomy
But uncertainty still haunts the country as Catalan leaders have not backed off from plans to declare the region independent. We're not going against anything".

1300 extra teaching posts in schools for 2018.

1,000 extra special needs teachers will have been employed by Sept 2018, bringing the total to 15,000.

Additional 800 gardaí to be recruited during 2018. Another 500 civilians to be hired also.

Brexit Loan Scheme for SMEs announced - €300 million will be available to them at competitive rates.

The lower 9% Value-Added Tax rate on tourism & services sector WILL NOT change.

There will be €17 million for the Renewal Heat Incentive and to incentivise an increase in electric vehicles.

There'll be a 0% benefit in kind on electric vehicles.

The VAT rate on sunbed services is to increase from 13.5% to 23%.

The threshold for the Family Income Supplement will rise by €10 per week for families with children.

€2.50 increase in the Telephone Support Allowance for those receiving the Living Alone and Fuel allowances.

The top marginal rate of tax on income up to €70,044 will now be 48.75%.

Entry point for single earners to increase from €33,800 to €34,550.

5% USC rate reduced to 4.75%.

As well as that, Donohoe said that he would be establishing a working group to plan, over the coming year, the process of amalgamating USC and PRSI over the medium term.

Other reports by Free-Prsite

Discuss This Article

FOLLOW OUR NEWSPAPER