Most of the detail of Wednesday’s budget comprising €3.5 billion in cuts and tax rises was signed off at the weekend amid last-minute tension between Labour and Fine Gael.
Government sources said the spending side was “pretty much agreed”. However, some other elements of the budget, such as an extension of PRSI to cover more income, were still to be concluded.
Key elements in the package are said to include a property tax of 0.2 per cent of house value, with a higher rate or “mansion tax” for residences valued above €1 million; a child benefit rate cut of €10; a motor tax increase of 15 per cent; and a reduction from 12 months to nine for payment of non-means-tested jobseeker’s allowance.
Coalition parties sign off on bulk of budget despite rows (Dealglán de Bréadún, Martin Wall, Irish Times)
(Laura Hutton/Photocall Ireland)