The Cabinet is meeting this morning with just hours to go until the Budget announcement.
Finance Minister Michael Noonan is expected to announce an “end to austerity” – with no major new spending cuts to be introduced.
He’ll also reveal much-anticipated changes to income tax – and signal an end to the 'double Irish’ strategy used by multinationals to cut their tax bills.
The income tax changes – vaunted by the coalition in recent months – will finally be unveiled – with changes to the USC, tax bands and dropping the higher rate of 41 per cent to 40.
Tax relief on water charges for low and middle income families is also on the way.
And we’re likely to see an increase in spending on social housing and health – with new Garda and teacher recruitment drives also set to be announced.
The price of alcohol is likely to be left untouched – but a 20 cent hike on the price of a packet of cigarettes is on the cards.
And amid continuing scrutiny of our tax arrangements with multinationals – the Finance Minister will also take the opportunity to signal an end to the “Double Irish” system used by firms like Google and Apple – with the scheme to be phased out by 2020.
Meanwhile, the people of Clare are seeking measures to help all workers in today's budget
In a poll of four options on the Clare FM website, half of the 360 people who voted said they'd like to see the Universal Social Charge cut.
21% wanted to see income tax reduced to help the less well-off, 19% called for increased investment to generate employment while one in ten said they'd like to see a full €2 billion correction, which had been advocated by groups including the European Commission.
