The country is currently bracing itself for its sixth austerity Budget in only four years, so here’s what to expect from today’s announcement…
It’s that time of the year again when the government unties your double-knotted purse-strings to help themselves. This year Finance Minister Michael Noonan and Public Expenditure Minister Brendan Howlin will announce tax hikes and cuts totalling €3.5 billion. Ouch…
But where is it going to come from? According to the Irish Examiner, €1.25bn will be saved through tax hikes and €2.25bn in spending cuts. We’ll also see the property tax being run at 0.18 per cent of the cost of your home and not just the €100 fee we all paid most of us paid earlier in the year. They could see the average Irish homeowner forking over another €300 a year.
Dole payments look set to hit the chopping block, as do back-to-school allowances and the medical card entitlements of over-70s.
Tánaiste Eamon Gilmore has already warned that this year’s Budget will be tough, but its success means Ireland will have paid off 85 per cent of our bailout debts targets.
According to Eamon Gilmore these harsh austerity Budgets are nearly a thing of the past and we might finally see things turn around in 2015.
It all kicks off live on RTÉ One from 2pm today, so make sure you tune in.
