Published: Tue, October 10, 2017
Medicine | By Brett Sutton

Key announcements from Budget 2018

Key announcements from Budget 2018

But the Value-Added Tax rate on tourism enterprises remains fixed at 9%, something welcomed by Senator Maria Byrne, who said this will "help protect jobs and create further employment".

There will be a 50c rise in the excise on a packet of cigarettes which will mean the price of 20 will top €12 for the first time.

The point of entering the higher income tax rate will be raised by €750 from €33,800 to € 34,550.

The Sugar Tax has now been announced.

There will be an increase of € 685m in Health spending in 2018, bringing the total to €15.3bn for 2018 - a 5% increase. A Benefit in Kind scheme for electric vehicles will be brought in.

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

The USC has an entry point of €13,000.

A second USC rate will drop to 4.75%.


Funding has also been announced for an extra 1,800 frontline staff.

The government stuck to its ratio of over 2:1 in favour of spending increase over tax cuts, increasing current spending in line with the 3.5 percent growth in the economy as services try to keep pace with a population that is also the fastest growing in the EU.

More nurses and doctors, a reduction in prescription charges for people with medical cards and a sugar tax are just some of the health-related measures expected in today's Budget.

It will be kicked off with €1.5bn from the Ireland Strategic Investment Fund, which makes commercial investments with state finances, before annual payments of 500 million euro a year are made from 2019.

Mr Donohoe said: "This Budget achieves sustainable and affordable tax reform, delivers improvements in services, and ensures increased investment in our national infrastructure".

For the self-employed, the earned income credit will increase by €200 (£178), bringing it to €1,150 (£1,128) per year from next year.

Ireland's finance minister sought to raise over 800 million euros in extra revenue in a budget on Tuesday to give taxpayers a "modest" break and help tackle a housing crisis.

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