Let’s Get Fiscal

at


This afternoon.

Government Buildings, Dublin 2

Minister for Finance and Public Expenditure and Reform Paschal Donohoe at a photocall to launch Budget 2018 at Government Buildings.

Swot.

Watch proceedings live here.

Sam Boal/RollingNews.ie

Update:

Rainy Day Fund to be established in the coming year, with at least €1.5bn to be transferred to it from the Ireland Strategic Investment Fund.

There will be €1.83 billion for housing, with 3,800 new social houses built by local authorities and approved housing bodies.

The Housing Assistance Payment Scheme will increase to €149m. Funding for homeless services will increase by €18m to more than €116m.

4,000 extra social housing units to be delivered next year.

Commitment to accelerate the delivery of social housing from 2019.

Extra €500m for direct building programme to see 3,000 additional new build social houses by 2021.

Additional €75m of funding for second phase of Local Infrastructure Housing Activation Fund.

€750m to be made available for commercial investment in housing finance.

The level on stamp duty on commercial property transactions will rise from 2% to 6% from midnight.

The vacant site levy will double from 3% in the first year to 7% in second and subsequent years.

Reduction in seven-year period for owners to enjoy full relief from Capital Gains Tax to four years.

Budget 2018: The key points (RTÉ)

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20 thoughts on “Let’s Get Fiscal

  1. GiggidyGoo

    The parking is great eh? Two Rottweiler cars either side of the arch parked on the footway. Not much money either judging by the reg numbers.
    Somehow I think the smile will be on the other side of DONOGHUE’s face later on in the Dail

  2. Col

    Nice that he addressed the housing “challenge”.
    I thought it was a crisis, but challenge is much easier to deal with.

  3. Anomanomanom

    Ok the budget for the housing works out at €481,​578.95 per house. There’s the problem, people don’t need or even want houses that cost that much. They need safe, comfortable and dignified living accommodation.

  4. Cian

    “Rainy Day Fund”? I really hope that they actually call it that.
    …and then any days it’s actually raining, you can go to the Department of Rainy Day Fund, and the Minister for Rainy Days will personally hand you an umbrella.

    #rainydayfund

    1. Spaghetti Hoop

      Is this to replenish the National Pension Reserve Fund which got depleted when rain fell heavily in 2008?

      1. Sheik Yahbouti

        Hoop, the National Pension Reserve Fund, which stood at slightly in excess of 21 billion, in 2008 has been abolished. We now have the ‘Rainy Day Fund’ to be used and abused at Government’s whim.

        1. Spaghetti Hoop

          Thanks for clarifying Sheik. Once we still have the rain-proof Piggy Bank for ministerial pensions all is grand.

  5. :-Joe

    Any mention this year of a fair and resposible corporate / wealth tax…
    or even getting more than the measly tax dodging 2% scraps in fairness….

    Nah, didn’t think so….

    :-J

  6. Grace

    Nothing for Metro North?? Disappointing that FG are continuing to sideline such a key price of infrastructure.

  7. wellness

    Transfer pricing is subject to further ” consultation”. Will be interesing to read the outcome of that 16 week faffathon.

  8. Truth in the News

    What would the budget surplus be if there was a royalty on Shells Gas, the debt incurred with the bank
    bailout and indeed the tax write off to AIB, what we have with Budget is spin and waffle.
    The real issue is the amount of tax take that is sucked out the economy to keep the Euro afloat
    anything in the Budget cited as gain is predicated on how much is left of the crumbs after Germany
    has dined.

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