Budget 2009

Bren1609

Maybe we could get a poll on this? In summary, here are some of the implications for individuals:

Standard rate of VAT increased from 21% to 21.5%

Betting tax increased form 1% to 2%

Air travel tax of €10

Standard rate tax band is increased by €1000 for single and €2000 for married

Martgage interest relief has increased to 25% for years 1 to 2 and decrease on a sliding scale in subsequent years

DIRT on savings accounts has n creased from 20% to 23%

Cigarettes and petrol has increase and medical card holders are to be means tested.

Its not as bad as i expected, what does everyone else think?

mikep

Vat has actually gone from 21% to 21.5%

Excise on pertol up 8c from midnight...

tabatha

Bren1609 wrote: »

Maybe we could get a poll on this? In summary, here are some of the implications for individuals:

Standard rate of VAT increased from 20% to 21%

Betting tax increased form 1% to 2%

Air travel tax of €10

Standard rate tax band is increased by €1000 for single and €2000 for married

Martgage interest relief has increased to 25% for years 1 to 2 and decrease on a sliding scale in subsequent years

DIRT on savings accounts has n creased from 20% to 23%

Cigarettes and petrol has increase and medical card holders are to be means tested.

Its not as bad as i expected, what does everyone else think?

air travel tax is 2 euro on short haul flights and not 10 euro. (thats from next march)

also children allowance has been taken away for children over 18 years of age and halved for children of sw parents. also the early kids allowance that is given in now only for children under 5 and a half.

8 cent on a litre of petrol from tonight.

mike65

DIRT is a sneaky one.

Mike

Tigger

what i don't like is that the media are ip in arms on the 1% levy

even on people on minimuim wage! they cry

its like €3.50 per week


i'm much more worried about the fact that 1.67 billion will go on bailing out the property developers and artificially supporting the houseing market

workaccount

8c is alot extra for fuel. Do you think this was justified?

Why not increase cigarettes to 2 euro like what was speculated?

I know we drivers cause problems but alot of benefits also. What benefits do fags have?

Tigger

savings on pensions?

voxpop

just petrol increase or fuel increase (ie diesel)

Tigger

voxpop wrote: »

just petrol increase or fuel increase (ie diesel)

just petrol

Bren1609

Just petrol. Diesel remains the same.

luckat

The main attacks are on the old, with the ludicrous medical card slashing. Not to mention that means testing will give lots of civil servants lots of enjoyable work bullying and humiliating elderly folk.

And a 1% across the board tax is a tax on the poor. For anyone with plenty of money, it's just a few quid out of your pub and cigs. For people who are just getting by, that's their food budget cut by €1 in every €100 they have to spend. It's not a fair tax.

nesf

luckat wrote: »

And a 1% across the board tax is a tax on the poor. For anyone with plenty of money, it's just a few quid out of your pub and cigs. For people who are just getting by, that's their food budget cut by €1 in every €100 they have to spend. It's not a fair tax.

There are tax decreases/credits that will benefit low and middle earners though, it's not just a 1% increase. The low income earners will be hit harder by the VAT and excise duty increases than the 1% levy imho.

Spud83

workaccount wrote: »

Why not increase cigarettes to 2 euro like what was speculated?

Because then people might quit which would result in the Government taking in less money.

What the did was pick a value that they think people will still pay therefore increasing their intake. Especially with people hearing of €2 over the last few days, 50c doesn't seem that bad.

kerry4sam

http://www.budget.gov.ie/

just wait for the coming days when the finer details will be revealed from the departments and the full extent of Budget2009 is known

Quackles

nesf wrote: »

There are tax decreases/credits that will benefit low and middle earners though, it's not just a 1% increase. The low income earners will be hit harder by the VAT and excise duty increases than the 1% levy imho.

Yes, I've no doubt that the the duty increases will have a greater impact, but did those on minimum wage really need the double whammy? :mad:

nesf

Quackles wrote: »

Yes, I've no doubt that the the duty increases will have a greater impact, but did those on minimum wage really need the double whammy? :mad:

I need to take a look at the details later but it was suggested by O'Dea that for low income earners the 1% levy would be mostly (or wholly?) cancelled out.

efb

really should have took on the public service, the over 70s an easier target. Is the 1% levy on taxable income or all income?

Mr. Incognito

And a 1% across the board tax is a tax on the poor. For anyone with plenty of money, it's just a few quid out of your pub and cigs. For people who are just getting by, that's their food budget cut by €1 in every €100 they have to spend. It's not a fair tax.

Rises to 2% if income is over 100,100.

I think it's a good budget. Fuel is a surprise and I drive a lot but If you can afford a car you're not entirely disadvantaged.

Increase in capital spending on schools is good.

Some good, some bad, but in the main could have been more dangerous ways than increasing CGT , VAT and fags.

Mr. Incognito

Is the 1% levy on taxable income or all income

Taxable income. Social security payemts and that are not to be taxed on it.

ArseBurger

luckat wrote: »

And a 1% across the board tax is a tax on the poor. For anyone with plenty of money, it's just a few quid out of your pub and cigs. For people who are just getting by, that's their food budget cut by €1 in every €100 they have to spend.

It's not a fair tax.

It's an incentive to work harder and earn more.

Mr. Incognito

really should have took on the public service

Abolition of 41 State Agencies and rolling redundancies in November when the task force comes back aimed at middle management.

Also voluntary early retirment.

Don't worry they did.

karen3212

luckat wrote: »

The main attacks are on the old, with the ludicrous medical card slashing. Not to mention that means testing will give lots of civil servants lots of enjoyable work bullying and humiliating elderly folk.
.

uhm, but I do think that if more people are living longer, then those old people that can afford to pay, should pay. I agree though, I hope it doesn't cost more to means test that they get from doing it.

efb

SetantaL wrote: »

Abolition of 41 State Agencies and rolling redundancies in November when the task force comes back aimed at middle management.

Also voluntary early retirment.

Don't worry they did.

voulantary early retirement only appled to the HSE, but sure maybe they'll be all reemployed on temp contracts anyway....

Antrim_Man

Everything you need to know is here

Budget 2008/9

turgon

Bren1609 wrote: »

Just petrol. Diesel remains the same.

You'd hardly expect Fianna Fail to hurt those driving with diesel - the builders and the business men need the money.

On the other hand every other person who drives petrol are definitely in a position to pay.

Im telling you if those ***** in Fianna Fail had managed our money and country half as well (remeember all those millions on dodgy pay programs. Well done boys), we havent these extreme measures, taking this crisis out on the people who least deserve it.

Disgrace.

But I can keep my dignity. I will never ever ever put so much as a 20 next to box of a Fianna Failer any time I am ever again in a polling booth.

Catsmokinpot

8c on petrol? 50c on cigarettes and wine????

Is there anyone here that can give me a valid justification for any of these increases?

leninbenjamin

SetantaL wrote: »

Don't worry they did.

bollocks to that, little more than a token gesture and far from what's needed if you look at the institutions as a whole.

very disappointed in the budget. I wasn't expecting much, but even so it's much more regressive than i expected. cop out tbh, things like the DIRT raise will do more damage than good in the long run.

nesf

Catsmokinpot wrote: »

8c on petrol? 50c on cigarettes and wine????

is there anyone here that can give me a valid justification for any of these increases?

Inelastic products where tax increases won't decrease consumption that much so it won't distort the market too much. Also easy options because of the green element of fuel increases (ditto with the motor tax increases) and the health element of cigarette and alcohol increases.

Increases on the above are par for the course for any Government needing to raise tax revenue. We need more tax intake and these taxes are less controversial and damaging than other options.

stooge

Would I be right in saying that:

The 1.67bn will go to local authorities for 'affordable' housing, this will then go to FTB's, which will in turn go to developers struggling to pay off their enormous loans to the banks which the government has just gauranteed?

So in summary, the government gives itself 1.6bn, saves it's property developer friends, and esnure a few more FTB's are on the 'ladder' and saddled with debt and immediate negative equity?

humberklog

Bren1609 wrote: »

Its not as bad as i expected, what does everyone else think?

Economically unimaginative.
Socially suspect.
Poltically potentially suicidal.
`
Keeping the pensioners healthy and (relatively) wealthy was keeping them in power.

Wouldn't need a crystal ball to foresee an interim budget around Feb.

genericgoon

Catsmokinpot wrote: »

8c on petrol? 50c on cigarettes and wine????

Is there anyone here that can give me a valid justification for any of these increases?

Cigs and Wine are luxury goods. Plus the former has significant health risks and thus longterm health costs to the state. The fact beer hasn't gone up as well is simply Fianna Fail pandering to 'average Joes' :rolleyes: and the pub trade.

Petrol is simply a stealth carbon tax, since Diesel is supposedly better in that regard. It will be seen as much as a Green Party initiative (whether that is true or not is debatable) as a Fianna Fail one and thus they can get away with it since it always seems to be the smaller partner who gets the blame. (see PDs) Similar thing with the airport tax, which is a bit shortsighted in light of the fact we are an island economy.