Parents, working families, and low income workers can all expect to benefit from measures announced in the budget today.

Finance Minister Michael Noonan outlines a number of changes to the tax system incl;uding changes to the entry level of the Universal Social Charge and two new USC rates for higher earners and the self employed.

The standard income tax rate band will increase by 1,000 euro and the higher income tax rate will drop from of 41% to 40%.

For the first time in 7 years there are to be no spending cuts and no tax increases.

Child benefit will increase over the next two budgets .

The living alone allowance goes up to 9 euro per week while a 25% Christmas bonus scheme for pensioners and those on social welfare is being introduced.

Tax refunds to offset water charges are on the way and the household benefits package is to be increased by 100 euro also to alleviate water charge costs

The 9% VAT rate on hospitality services is being maintained after heavy lobbying by the restaurant and tourism sectors.

Motorists will be happy there will not be any increase on Petrol, Motor Tax, or VRT a move welcomed by the AA. 

But the Director of Consumer Affairs at the AA - Conor Faughnan says Michael Noonan has missed an opportunity to reform VRT:

Alcohol also remains untouched but cigarettes will rise by 40 cents cent from midnight making the price of a packet of cigarettes around 10 euro.

Over 2.2 billion euro has been announced for social housing, health is set to benefit from an increased 13 billion euro budget while new teachers and Gardai are to be hired.

A new package on corporate tax has been announced. It will eliminate the so called double Irish, which allows foreign companies reduce their tax liabilities, for new entrants from January, however existing schemes will remain in place until 2020.

There is also some savings on DIRT tax for First time buyers.