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Budget 2017 Announced In The Dáil

Pensioners, first time buyers and families with children have most to celebrate from budget 2017.

Tax cuts and spending increases costing over 1.3 billion euro have been unveiled by Michael Noonan and Paschal Donohoe.

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Pensioners will save 5 euro a month as prescription charges for medical card holders over 70 are cut, this is on top of the much predicted 5 euro increase in the weekly pension payment which will kick in from next March.

An increase in the Christmas bonus is also on the way which mean an extra 24 euro for pensioners.

The Jobseekers' allowance will also rise in line with other social welfare payments by 5 euro per week.

A new childcare package to subsidise payments will be means tested and come into force in September 2017.

As predicted USC bands for all workers earning up to 70,000 euro will be cut by half a per cent, savers will see a 2% per year reduction in Dirt, from 41% for the next 4 years. and there's to be an increase in tax credits for the self employed by 400 euro 

First time buyers are to be entitled to a 5% grant on newly built homes up to the value of 20,000 euro and the tax free rental allowance under the 'rent a room scheme' is being increased to 14,000 euro per year.

The tax-free threshold for inheritance tax will rise to 310,000 euro where the beneficiaries of a will are children, all other categories will rise by 8%.

In the area of health, spending is to be increased by 14.6 billion, the highest ever, 15 million of which is being put aside to tackle hospital waiting lists through the national treatment purchase fund, 

As regards the so called old reliable's, a packet of 20 cigarettes will rise by 50 cent from midnight but there will be no change to alcohol, petrol or motor tax.

The budget also contained plans for almost 4,500 additional frontline staff – Gardai, nurses and teachers – in 2017.

290 million is being put aside for public sector pay increases, a special team to deal with Brexit will be established in the Department of finance, there's 28 million for emergency accommodation for the homless and a sugar tax has been confirmed but will not be introduced until 2018

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