Wednesday 26 October 2016

Sinead Ryan: Five ways we're richer after Budget 2017

Published 11/10/2016 | 14:09

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WITH the detail of the latest Budget still being examined, personal finance expert Sinead Ryan has a snap reaction on some of the measures that will benefit us financially:

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*OAPs getting fiver extra and a restoration of 85pc of their Christmas bonus.  If they're smokers, it'll probably get spent though...

*Anyone on housing assistance programmes will see the scheme extended and upgraded.  They'll be worried it'll just increase rents however, so let's hope that will be monitored.

*All taxpayers paying less from next year after USC was decreased by 0.5pc over the three lower rate bands to 0.5, 2.5 and 5pc respectively.  As USC is a levy on income, this will have a real effect. The Minister also increased the ceiling at which the 2.5pc rate is paid to ensure no minimum wage workers are included.

*Help to Buy scheme for first time buyers means a maximum of €20,000 over four years of tax rebate could be paid. Will it just increase house prices though?

*The reduction of DIRT by 2pc will be welcome, but with interest rates so low, it'll be hard to tell...

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