Monday 24 October 2016

Six ways the Budget affects you (in less than 60 seconds)

Published 12/10/2016 | 07:53

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In a rush? Here is how the Budget affects you... in less than 60 seconds.

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1. Tax

USC cut for lower and middle income earners worth about €250 a year. Three lowest rates cut to 0.5pc, 2.5pc and 5.0pc.


2. Old Reliables

50c on a packer of 20 cigarettes. No change to petrol, diesel and alcohol


3. Social Welfare

State pension to rise by €5 a week, along with all other weekly payments, including carer's allowance, disability allowance and jobseeker's benefit and allowance


4. Housing

€20,000 grant for first-time buyers on new-build homes worth up to €600,000


5. Childcare

New universal subsidy for children aged six months to three years for all families using registered childcare


6. Inheritance

Taxes on all inheritances to be reduced, especially from parents to children where the threshold will rise to €310,000

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