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budget 2019

Budget 2019: Winners and Losers

There’s good news and bad news….

PASCHAL DONOHOE THIS afternoon commended Budget 2019 to the Dáil. 

Amid all the talk and bluster, we break down the winners and losers:

WINNERS

90283684_90283684 Mark Stedman / Photocall Ireland Mark Stedman / Photocall Ireland / Photocall Ireland

Social Welfare: All weekly payments are increasing by €5. The 100% Christmas bonus was fully restored. 

Low to middle earners: The entry point to the higher rate of income tax increased from €34,550 to €35,300. The third rate of Universal Social Charge was also reduced from 4.75% to 4.5%.

shutterstock_536517748 Shutterstock / Liudmila Fadzeyeva Shutterstock / Liudmila Fadzeyeva / Liudmila Fadzeyeva

New parents: An extra two weeks paid leave was announced.

Corporation Tax: Our controversial 12.5% corporation tax was left unchanged.

House hunters: Plans to deliver 6,000 affordable homes were announced. A single person earning less than €50,000 and a couple on less than a combined €75,000 will be able to apply.

shutterstock_736925074 Shutterstock / i viewfinder Shutterstock / i viewfinder / i viewfinder

Pill bills: The prescription charge was reduced from €2 to €1.50. There will also be a €25 increase in the weekly income threshold for GP Visit cards. 

LOSERS

File Photo Excise duty on 20 cigarettes up by 50cent. End. Mark Stedman Mark Stedman

Smokers: It’s bad news again. A pack of cigarettes is increasing by 50c. Pouches of tobacco will also increase by 50c.

shutterstock_286760666 Shutterstock / Dmitry Kalinovsky Shutterstock / Dmitry Kalinovsky / Dmitry Kalinovsky

Hospitality Sector: The Government announced that it is increasing the VAT rate back to 13.5%. It had been reduced to 9% during the recession to stimulate tourism.

shutterstock_1084975991 Shutterstock / Robson90 Shutterstock / Robson90 / Robson90

Diesel car drivers: There’s going to be an additional 1% added to Vehicle Registration Tax on new diesel cars.

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