Key points from Budget 2020 announced by Finance Minister Paschal Donohoe on Tuesday

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Sarah Smyth

Reporter:

Sarah Smyth

Email:

news@carlowlive.ie

Carlow Carlow Carlow

Key points from Budget 2020 announced by Minister Paschal Donohoe today

Here are some of the main talking points from Tuesday's Budget 2020 announcement:

  • No tax cuts
  • Excise duty on a pack of 20 cigarettes increased by 50 cents, with a pro-rata increase on other tobacco products – brings average price to €13.50
  • Carbon tax is up €6 per tonne and applies from midnight tonight on auto fuels -  other carbon tax changes to other fuels will come into effect in May 2020
  • A further €20 million for homeless services bringing total funding to €166 million in 2020
  • Nitrogen oxide (NOx) emissions-based charge for cars registering for first time from Jan 1 2020
  • Free GP care for children under eight as well as free dental care for children under six by September
  • Payment of 100% Christmas bonus to all social welfare recipients
  • Jobseekers allowance for 25-year-olds is being increased to the full rate from €157.80 to €203
  • €5 increase to the Living Alone Allowance
  • A Brexit package of €1.2 billion has been announced
  • One Parent Family Payment and Jobseeker Transition to rise by €15
  • €10 increase for Working Family Payment income threshold
  • Home carers' credit to be increased by €100
  • Earned income tax credit will  be increased by  €150 to €1,500 for self-employed people
  • Home carers' credit to be increased by €100
  • Earned income tax credit will  be increased by  €150 to €1,500 for self-employed people
  • €2bn for rural Ireland Farm restructuring relief  extended to December 2022
  • Inheritance tax threshold will increase by €15,000  to €335,000
  • Funding for 700 new Gardaí
  • Funding for 150 new mainstream teaching posts
  • Funding for special education to fund over 400 new teachers and over 1,000 special needs assistants

And finally, €1.2bn has been allocated for Brexit. In case of a no-deal Brexit, €220 million will be  released immediately while a further €650 million has been allocated for agriculture and tourism and €85 million for beef farmers.  

A sobering  €365 million will be provided for additional Social Protection expenditure in the event of a no-deal Brexit and €45 million has been announced to assist people to transition to new work.