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Budget 2010 – Summary

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
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Posted by John in Blog on 15 December, 2009 | 4:11

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