Below we have summarised the Main Points of Budget 2010:
- VAT rate to be reduced to 21% from 21.5%
- No changes to excise on tobacco
- Excise duty on drink to be reduced
- Mortgage Interest Relief for home owners due to expire in 2010 will be extended to 2017
- Mortgage Interest Relief to be totally abolished by 2017
- Property taxes and water charges are on the cards for next year.
- Carbon Tax – to be applied to petrol from midnight
- State Pension unchanged
- Child Benefit – rates reduced by €16 per month, benefit will not be taxed or means tested for legal reasons
- Tiered pay cuts for public servants from 5% for the first €30,000, all the way up to 15% for those earning €200,000 or more.
- Hospital consultants will see their pay cut by up to 15% under the Budget measures.
- Rates of Job Seekers Allowance to be reduced for younger people
- A 50 cent charge is to be introduced for every medical card prescription item
- Car scrappage scheme to be introduced
- National Solidarity Bond aimed at small investors to be launched
