Budget 2018 Live Feed

Oct 10, 2017
6 min read

Budget 2018 Live Feed

Budget 2018 is being delivered today, Tuesday October 10, by the new Finance Minister Paschal Donohoe.

We are providing live updates today on our website and social media.

If you have any tax queries, contact one of our Tax Managers

Jane Jackson, Dundalk Office janejackson@fdw.ie +353 42 933 9955

Mairead Rooney, Balbriggan Office maireadrooney@fdw.ie +353 1 849 1633

Live Budget 2018 Updates

Watch our #Budget18 highlights video https://t.co/mgbN5AAR1X — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Reduction in 7 year period for owners to enjoy full relief from Capital Gains Tax to 4 years #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

New house building entity to boost construction #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

€1.7bn invested in special education meaning more than 1000 new SNAs before September 2018 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

€20 increase in earnings disregard for the one parent family scheme and job seekers transitional scheme #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Family income supplement threshold to rise by €10 p/w for families with 3 children. €2 p/w rise in rate of qualified child payment #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Closing sentence by Minister Paschal Donohue “We have achieved so much and we will achieve more” #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Working group to be set up to plan to amalgamate USC and PRSI over the coming year #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Vacant site levy increased to 7% #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Prescription charges for medical card holders under the age of 17 to be reduced to €2 from €2.50 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

VAT refund scheme for charities introduced #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

20 cents sugar tax on fizzy drinks with 5 to 8 grams of sugar per 100ml #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Home Carer Tax Credit increased to €1200 from €1100 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

USC – The middle 5% rate cut to 4.75% #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

USC entry point to remain at €13,000 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Earned Income Credit to raise by €200 to €1150 in 2018 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Drugs Payment Scheme – monthly amount reduced to €134 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

USC lower rate dropped from 2.5% to 2%. Upper rate threshold raised to €19372 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Corporation Tax of 12.5% to remain in place #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

€36m awarded to climate change including alternative energy investments #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

40% tax rate for income tax to increase to €34550 from €33800, increase of €750 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Increase of €23m to be paid to the Department of Foreign Affairs & Trade to “grow our global footprint” #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Living alone & fuel allowance recipients to receive new telephone support of €2.50 per week #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

All weekly social welfare payments to increase by €5 at the end of March 2018 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Social Welfare Christmas bonus – 85% bonus announced #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Childcare – ECCE Scheme moderate extension to a full 2 years #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Expansion of energy efficiency programmes across public and residential sectors – €36m more awarded #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Electric Cars – BIK to be 0% to incentivise electric cars #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Government requests a review of carbon tax by ESRI #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Childcare – €20m more awarded for childcare measures. Extension of 2 years free preschool years #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Government acknowledges that climate change must be addressed for the sake of our children #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Introduction of mandatory reporting under the Children First Act. Tusla awarded additional €40m #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Brexit Loan Scheme – €25m to be made available to the Agri-Food sector to assist with #Brexit challenges #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Increased support promised to Bord Bia #Budget18 #Brexit — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

€64m increase in funds to the Department of Agriculture #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Cultural institutions to be provided with additional current funding of €9m and capital funding of €4m #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

#Brexit Government acknowledges that Brexit will mean changes to SMEs and our trade patterns #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

€111m awarded to sport #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Boost to tourism – €2bn to be given to the Department of Transport, Tourism and Sport #Budget18

— UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

No change to VAT on tourism and services sector #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

#Brexit loan scheme – €300m to be made available to small and medium enterprises incl food businesses #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Department of Justice to be given €63m more to develop a “modern police force” – increase in gardai by 800 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Tanning Tax – VAT on sunbeds to be increased to 23% from 13.5% #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Spending on education in 2018 to peak to over €10bn #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

1300 more teaching places in schools in 2018 reducing pupil to teacher ratio to 26:1 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

€471m to be made available to primary care for 2018 – 2021 allowing for investment such as national children’s hospital #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Sugar tax 30 cent per litre charge on all drinks with over 8g of sugar per 100ml #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Cigarettes up by 50 cent to €12 #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Extension on mortgage interest relief to run until 2020 but will fall to 25% in that year #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

New access plan in the health sector awarded €90m – aimed at vulnerable patients #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

1,800 more health sector staff #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Health Service promised a increase of €685m to bring total budget to €15.3bn #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Commercial stamp duty increased from 2% to 6% but a refund is promised for land used for housing development #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Government urges developers with vacant sites to develop their land urgently #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Commercial stamp duty increased from 2% to 6% but a refund is promised for land used for housing development #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Government urges developers with vacant sites to develop their land urgently #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Stamp duty for non-residential property to increase to 6% from midnight tonight #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Home Building Financed Ireland – €750m from the Strategic Investment Fund for commercial investment in housing #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Housing assistance scheme to be increased by €149m #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Government to give €1.83bn towards social housing in 2018 meaning 3,800 new social homes #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Rainy Day Fund will be kickstarted by a transfer of €1.5bn from the Irish Strategic Investment Fund #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Paschal Donohue confirms that the forecasted economic growth rate is more than the growth in current spending #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

Government is raising €830m resulting in a total Budget Day package of €1.2bn #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

“To further protect the economy and the national finances, I propose to establish the Rainy Day Fund …” Minister Paschal Donohoe #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017

“Unemployment is now at its lowest since 2008, at 6.1% and is forecast to fall to 5.7% on average in 2018.” Paschal Donohoe #Budget18 — UHYFarrellyDaweWhite (@UHYFDW) October 10, 2017