Tuesday, December 07, 2010

Irish Budget

The Irish budget is available on this link. 6 billion of tax increases and spending cuts. This is very much across the board including cuts in almost all social welfare categories (state pensions excluded), tax hikes across the income brackets and cuts in spending in capital programmes, health, education etc., Some interesting aspects include the introduction of a property tax at a low level and the reduction in child benefit on a universal basis. As expected, the temporary crisis "levies" have now been rolled into a permanent universal contribution. Other than that, the bulk of the action happens in the reduction of the capital allocation and in current health spending.

1 comment:

Martin Ryan said...

"Around €380 million of the €746 million to be cut from health spending next year, will be achieved through savings on the cost of drugs and reduced professional fees for GPs and others, according to the Budget."