The Budget 2012

Budget 2012 Main Points

• USC exemption level rises to €10,036
• 2% rise in top rate of VAT to 23%
• DIRT rises from 27% to 30%
• Motor tax to rise from January 1st
• Interest relief for 04-08 buyers up to 30%
• Duty on 20pk cigarettes rises 25c
• Alcohol remains untouched
• Sick pay tax exemptions changed
• Online betting to be taxed
• Carbon tax rises to €20/tonne
• CAT and CGT rise 5%
• VRT export scheme to be implemented
• New tax measures worth about €1bn
• Legacy property reliefs reduced
• FTB to get 25% interest relief in 2012
• Residential stamp duty unchanged
• Duty on commercial property transfers at 2%
• 9% rate of VAT to apply to open farms
• Lower stamp duty to apply to family farm
• Changes to R&D credits planned
• Foreign earnings deduction planned
• Noonan announces €1.6bn measures
• Income tax to remain untouched
• PRSI may widen to include rent income
• Tax on savings to increase
• Motor tax expected to rise
• Public service pay bill will fall by €400m
• Household charge of €100 planned
• College registration fees rising €250
• Drug payment scheme threshold rises
• 2% cut in core funding for third level
• Fuel allowance cut to 26 weeks
• Weekly social welfare pay unchanged
• Rent supplement limits to be reviewed
• Primary transport charge doubled
• Capital grants to schools reduced by 2%
• Mergers in education to save €132.3m
• Overseas development aid cut by €52.9m
• Govt measures to reduce price of drugs
• Extra €50m for mental health, GP access
• €13.6bn for health next year
• JSA to be calculated on 5-day basis
• Changes to 1-parent family payment to save €20.7m
• Child benefit rates to be standarised
• Plans to change public service sick leave
• Govt spending next year will be €55.8bn
• €20m for fund aimed at long term unemployed
• 3 principles: Fairness, jobs and reform
• Howlin unveils spending cuts
• Ireland on 'four-year path' to recovery
• Cuts and tax rises to amount to €3.8bn