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Budget 2011: Final Bill comes before Dáil today

Bill which sees minimum wage cut by a euro, reduces the salaries of the Taoiseach and ministers, and reduces public service pensions is expected to pass Dáil vote today.

Image: Julien Behal/PA Wire/Press Association Images

YESTERDAY EVENING, THE Dáil passed all stages of the Social Welfare Bill by a margin of 80 votes to 76.

Today, the last stages of the Budget – the Financial Emergency Measures Bill – are going through the Dáil.

The Bill will see the minimum wage cut by one euro to €7.65 an hour, reduce the salaries of the Taoiseach and ministers, and reduce public service pensions.

The Taoiseach’s salary is being cut by €14,000 per annum, while ministerial pay is reduced by €10,000 a year. Public service pensions worth €12,000 or more a year will be cut by about 4%, though pensions worth less than €12,000 will be exempted from cuts.

Public sector pay will be capped at €250,000 a year for new appointments.

Tax bands and tax rates will been cut by 10%, bringing around 300,000 more people into the tax net for the first time. Age credits and exemptions (which currently apply to people over 65 earning less than €20,000) will be reduced by €2,000 to €18,000, with a view to abolishing them fully over four years.

The opposition has complained about restrictions to the Bill’s debate, as the debate is scheduled to end at 1pm today. The Bill is expected to be passed.

How much will the Budget cost you? View our calculator >

See the main points of Lenihan’s Budget speech >

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