If you haven’t braced yourself yet, then you better now as the Budget 2012 comes into effect from midnight tonight.
As many prepare to head out on the town tonight to ring in the New Year, some will have forgotten that the Budget 2012 will come into effect as of midnight, so you might want to buy a couple extra hamburgers before you hit the tiles and stash them in your pockets – you know, for the walk home.
So what exactly can we expect as of midnight tonight? Well, we’ll all be paying this €100 household charge for a start, whether you’re in a stately home or small private house.
A further 2 per cent is being added to VAT however, the Finance Minister Michael Noonan did state that this increase will not apply to some food, children’s clothing or oral medicine, according to the Irish Examiner.
Child benefit will also take a hit as families with three children will see a decrease of €228 in benefits while a family with four kids will be docked €432.
Things will continue to get that bit tougher as home and motor insurance premiums will also increase, thanks to a new 2% levy on all non-health insurance policies.
All-in-all, the average household can expect to fork out an extra €2,000 this year, meaning Santa may not be as fat and jolly next year as he was this year.
