Wednesday 25 April 2018

Family on €50,000 gross income will now be €2,000 less well off

Finance Minister Michael Noonan had goodies for those who bought homes at the peak of the boom, but for the most part his first Budget will hit household incomes hard.

All told, a family on a typical gross income of €50,000 could end up €2,000 out of pocket from this week's two Budgets.

Higher valued added tax, the new household charge, an extra 4c on a litre of petrol and diesel (due to VAT) and carbon tax increases were among the measures that made a big impact yesterday.

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