Minister for Finance Michael NoonanMinister for Public Spending & Reform Brendan Howlin
   Public Sector   Social Welfare   Education   Transport   Health   Environment   Enterprise   Justice
   €400m savings in Public Sector pay bill by 2013   10pc cut in overtime   5pc cut in allowances   Reduced allowances...
   €250 increase in college registration ( €2,250). This will    create an additional €18.5m per annum in revenue.   Pri...
   Threshold of drugs payment scheme to    increase to €132   Charges for private beds in public hospitals    to rise ( ...
   Weekly social welfare payments unchanged   Child benefit for first and second child unchanged- reduced    from €167 t...
Household charge €100 from January 1stWaived for those on mortgage assistance and living in unfinished                    ...
   31 Garda stations to close   Garda budget cut by €79m
   Income tax rates and bands unchanged at 20%    and 41%   Higher rate of VAT increased to 23%   USC- exemption raised...
   Cigarettes up 25c per pack of 20   Alcohol unchanged (legislation planned on    low cost alcohol)   Motor Tax change...
   Capital Acquisitions tax up from 25pc to    30pc   Capital gains tax up 25pc to 30 pc   DIRT tax up 27pc to 30pc (di...
   30% relief buyers 2004-2008   25% first time buyers 2012   15% for non first time buyers
   Gambling legislation to be introduced for    online betting   Research and development expenses of    €100,000 can be...
Forecast GDP 1.3 % growth for2012
Currently over 14%unemployment
Budget 2012
Budget 2012
Budget 2012
Budget 2012
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Budget 2012

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A summary of Budget 2012.

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Budget 2012

  1. 1. Minister for Finance Michael NoonanMinister for Public Spending & Reform Brendan Howlin
  2. 2.  Public Sector Social Welfare Education Transport Health Environment Enterprise Justice
  3. 3.  €400m savings in Public Sector pay bill by 2013 10pc cut in overtime 5pc cut in allowances Reduced allowances and secretarial support for former Taoisigh Limited recruitment across public sectorEconomic impact?? Merit goods!
  4. 4.  €250 increase in college registration ( €2,250). This will create an additional €18.5m per annum in revenue. Primary school transport increase to €100 Back-to-school clothing allowance for under-4 abolished. Reduced by €50 for primary and post-primary ( yield €30m) School Capitation down 2pc €30m investment for training initiatives for unemployed 950 teaching jobs to go (700 post-primary)
  5. 5.  Threshold of drugs payment scheme to increase to €132 Charges for private beds in public hospitals to rise ( health insurance increase!!!) Free GP for long-term illness 2pc cut in disability, mental health and children services Reduction in use of agency staff Prescription charge to remain (50c)
  6. 6.  Weekly social welfare payments unchanged Child benefit for first and second child unchanged- reduced from €167 to €148 for third child and from €177 to €160 for fourth plus Rent supplement change- pay €30 per week up from €24 Fuel allowance paid for 26 weeks not 32 weeks Disability payments down by 50pc for young people. Part time job seekers down 20pc ( saves € 5.9m) Economic impact??
  7. 7. Household charge €100 from January 1stWaived for those on mortgage assistance and living in unfinished housing estates
  8. 8.  31 Garda stations to close Garda budget cut by €79m
  9. 9.  Income tax rates and bands unchanged at 20% and 41% Higher rate of VAT increased to 23% USC- exemption raised to €10,036 Carbon tax from €15 per tonne to €20 per tonne - petrol up 1.4c -diesel up 1.6c -€17.32 on oil -€14.46 on gas -no change on solid fuels
  10. 10.  Cigarettes up 25c per pack of 20 Alcohol unchanged (legislation planned on low cost alcohol) Motor Tax changes from January 1st: Band A up €56 to €160 Band B up €69 to €225 Band C up €28 to €330
  11. 11.  Capital Acquisitions tax up from 25pc to 30pc Capital gains tax up 25pc to 30 pc DIRT tax up 27pc to 30pc (discourage leakage of savings) Corporation tax unchanged at 12.5pc
  12. 12.  30% relief buyers 2004-2008 25% first time buyers 2012 15% for non first time buyers
  13. 13.  Gambling legislation to be introduced for online betting Research and development expenses of €100,000 can be used as a tax credit
  14. 14. Forecast GDP 1.3 % growth for2012
  15. 15. Currently over 14%unemployment

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