The Minister for Finance has set out his budget priorities for 2018. Paschal Donohoe has announced an increase in the price of cigarettes, and a sugar tax.
He's also said he expects unemployment to fall to 5.7% next year. There will be more Gardai and the pupil teacher ratio will fall. The Minister wants an increase in the VAT rate for sunbeds, as a health protection measure.
There's also tax cuts for some, a hike in Social Welfare payments and an increase in Stamp Duty for commercial properties.
Here's the main points:
- Entry point to USC remains at €13,000 2.5% rate lowered to 2%
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5% USC rate lowered to 4.75%
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€5 euro per week increase for Social Welfare
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Cigarettes to increase by 50c on a pack of 20
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VAT rate on sunbeds has been increased to 23% from 9.5%
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800 extra Gardai
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Pupil teacher ratio lowered to 26:1
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Sugar Tax 30c on a litre with 8g per 100 mil
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Commercial Stamp Duty to triple from 2% to 6%
- VAT rate for tourism unchanged
