Friday 19 October 2018

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Country gears up for Budget 2019

Tuesday, 9th October, 2018 10:54am

The Minister for Finance Paschal Donohoe will announce the 2019 Budget at 1pm today. 
Last night, An Taoiseach Leo Varadkar outlined briefly what people can expect in a video on social media. He claimed that it will makes a difference in people’s lives.
He added: “There’ll be increases in pensions and other social welfare payments and there will also be reductions in income tax and the USC allowing workers to keep more of the hard earned money that they earn.”
In the same video Minister Donohoe said that the Budget is going to benefit families by looking to make childcare more affordable. 
It’s expected that social welfare will increase by €5 each week and what could be seen as a budget tradition, the price of a pack of cigarettes will increase again – this time by 50 cent. 
Two weeks parental leave is also on the cards, due to be introduced at the end of 2019.  
Free GP care is expected to be extended to 100,000 people while the nine per cent VAT rate for hotels, restaurants and hairdressing will be increased to 13.5 per cent. 
There will also be some moves in Budget 2019 to reduce the cost of living, while it was also described by An Taoiseach as “Brexit proof”.
It also allows for a rainy day fund, something which Sinn Féin has not included in its alternative budget. 
Cork TD Jonathan O'Brien met with some Sinn Féin councillors to brief them on their party’s alternative budget, which the Cork Independent was privy to too. 
Sinn Féin have also allocated a €5 increase to social welfare and added 50 cent to cigarettes too.  
Deputy O’Brien said: “We are not putting money into a rainy day fund because we believe it needs to used now.”
The bank levy whereby banks don’t have to pay corporation tax is also scrapped in Sinn Féin’s budget. 
Sinn Féin has also proposed raising the hospitality VAT rate, however there is a difference. They would charge 13.5 per cent in what they call the bed sector but the likes of cafes and beauticians would pay 11 per cent. 


 

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