26 Jun 2022

What's in Budget 2018 for Offaly people?

Budget 2018: The main points at a glance

Budget 2018

Budget 2018

Don't have time to wade through all the Budget 2018 coverage?  We've compiled a list of the main points:

Entry point for higher tax rate increases by €750 from €33,800 to €34,550. The 2.5% rate of USC is to be reduced to 2% with ceiling for new rate going up to €19,372 and  5% rate of USC cut to 4.75% 

All social welfare payments and state pension will go up by €5 in March 2018 

85% Christmas bonus to be paid to all social welfare recipients in 2017

Free pre-school programme will be extended to a full two years

Family Income Supplement threshold up by €10 per week for families with up to three children.  There will be a €2 per week increase in the rate of qualified child payment

€2.50 increase in Telephone Support Allowance for those in receipt of Living Alone and Fuel Allowances

The home carer credit will go up to €1,200, an increase of €100

Prescription charges will be reduced for all medical card holders under 70 from €2.50 to €2 per item.  The monthly cap will decrease from €25 to €20.  

Cigarettes will go up by 50 cent for a pack of 20, bringing the price to €12

Sugar tax will kick in from April 2018, 30c per litre on drinks with over 8g of sugar per 100ml; 20c per litre on drinks between 5g and 8g of sugar per 100ml.

1,300 additional teaching posts from next year, reducing primary school pupil teacher ratio to 26:1.  

A total of €1.7bn for special education  including more than 1,000 new Special Needs Assistants who will be recruited by September 2018.  

Plan to recruit 800 more gardai during 2018 as well as an additional 500 civilians to work in Garda Siochana.

Increased allocation of €685m for Dept of Health to include additional 1,800 staff in frontline services

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

A total of 4,000 extra social housing units will be delivered next year

Additional €500m for a direct building programme which will lead to an extra 3,000 new build social houses by 2021

Additional €75m for second phase of Local Infrastructure Housing Activation to support local authority delivery of affordable housing

Funding for homeless services up €18m to €116m.  

Housing Assistance Payment Scheme to increase to €149m

€750m to be made available from Ireland Strategic Investment Fund for commercial investment in housing through a new entity called Home Building Finance Ireland which will, Minister said, draw on NAMA’s expertise in residential developments

Stamp duty on commercial property to rise from 2% to 6% from midnight tonight

Additional €64m for Dept of Agriculture and Marine

€50m Brexit response package and a further  €25m for Brexit Response Loans for agrifood sector

Vacant site levy to jump from 3% in first year to 7% in second and subsequent years.  

Full relief from Capital Gains Tax down from seven year period to four years.  

Brexit Loan Scheme announced to assist SMEs

0% Benefit-in-Kind rate for electric vehicles

Vat rate on sunbed services increases from 13.5% to 23%

To continue reading this article for FREE,
please kindly register and/or log in.

Registration is absolutely 100% FREE and will help us personalise your experience on our sites. You can also sign up to our carefully curated newsletter(s) to keep up to date with your latest local news!

Register / Login

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.