Budget 2018 at a glance

Budget 2018 at a glance
Linda Gough and Michelle Gannon watching Finance Minister Paschal Donohoe deliver his budget speach at O’Callaghans Expert. Picture Dan Linehan

Minister for Finance Paschal Donohoe has delivered his Budget for 2018. 

Here are the main points.

  • €5 per week increase in all weekly social welfare payments from the last week of March.
  • Increase in the entry point to the higher tax band of €750 to €34,550.
  • Sugar tax of 30c per litre on soft drinks with more than 8g of sugar per 100m
  • The price of a packet of 20 cigarettes will increase by 50c to €12.
  • VAT on sunbeds going up from 13.5% to 23%.
  • Mortgage Interest Relief will end in 2020 with reductions taking place for the next three years.
  • Plans for extra education spending to reduce the pupil-teacher ratio to 26:1.
  • Brexit loan scheme for food companies.
  • Vacant Site Levy increasing from 3% to 7% to force landowners to begin construction.
  • Establishing a Rainy Day Fund with €1.5 billion initially.
  • 50c reduction in prescription charges for medical card holders under 70.

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