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Average worker will be €1,000 better off after this year's budget, says finance minister

Cuts to the USC will be a ‘central component’ to this year’s budget.

AVERAGE WORKERS WILL benefit by €1,000 in this year’s budget, according to Finance Minister Jack Chambers. 

Speaking to reporters at the Fianna Fáil think-in in Killiney this afternoon, the minister said between income tax reductions, which will include USC cuts, and the cost-of-living payments in Budget 2025, workers will have around €1,000 back in their pockets. 

USC cuts

He said the reductions in the USC will be a “central component” of the income tax package which the minister said will target low and middle income earners.

When asked if he would not consider doing something bold in his first budget, such as scrapping the USC altogether, he joked: 

If I was to that, it will definitely be my last.

He said any party that suggests removing it overnight is costing the Exchequer €5 billion.

“If you remove €5 billion from permanent tax take, you have to find it elsewhere, and so we’re being honest about what’s possible, and again, we’re prioritizing USC in how we design our income tax package,” said Chambers. 

It is expected the USC will be cut by another half point, but the finance minister would not confirm the percentage today.

Energy credits 

Speaking about energy credits, he confirmed that the payments would be made by the end of the year. 

He said energy prices are still affecting many families across the country, stating that the energy credits will be a “strong component of a cost living package”. 

Chambers wouldn’t confirm if the energy credits will be given to households in one lump sum or split between a number of payments, stating:

“There is consensus in government of having an energy credit to support people through the winter period, whatever feeds into next year has to take account to the new fiscal rules that we’re in. And that will, I suppose, that will dictate how we decide to spread payments.”

The roll out of energy credits is about protecting families and ensuring that the energy costs which are still in our economy are mitigated through the winter period, the minister said. 

AIB shares sale used for housing

Chambers confirmed that AIB share sales, which took in €3 billion, will be used for housing, driving affordability and additional supply, while also addressing the deficits  in water and energy infrastructure. 

While there has been speculation about double child benefits being on the cards, the minister would not be drawn on the matter, stating inflation, energy prices, childcare and other issues are still impacting families. 

“Child benefits is an important component of that, whether it’s through cost of living or  indeed the wider social protection,” he said. 

Speaking about the rezoned land hoarding tax issue, which has been an issue of disagreement between the coalition parties over the summer, the finance minister said there has been consensus from all three government parties on excluding active farmers from the tax. 

The minister said many farmers legitimately raised serious concerns that if they were to be included in the tax it could put them out of business. 

He said a process is being designed which ensures active farmers have a route out of the tax, but that those who are hoarding land would still be subjected to the tax.

“And there’s a good discussion on it between three parties last week, and I think we have a way forward which I’ll be able to set out on budget day,” he said. 

In terms of the hospitality sector, retailers and small to medium enterprises, Chambers said there is a need to make sure that the policy decisions made are sustainable for those business in the medium-to-long term.

Competitiveness issues “which have been well flagged”, will be dealt with and reflected on in the budget. 

Pay-related maternity benefit ambitions

Social Protection Minister Heather Humphreys has said previously she would like to see pay-related maternity benefit rolled out

While it is not likely to be announced in budget 2025, Chambers said it is an ambition he would share with Humphreys. 

“We’re absolutely keen on making sure we’ve progressive measures taken when it comes to social protection, and that’s a policy measure I think should be advanced in the years ahead.

“We can’t do everything in Budget 2025 but I would share that ambition on driving that from social protection perspective.”

Land hoarding tax

A spat between the Green Party and the rest of the coalition played out last month after it was suggested that a tax on those who own land that is zoned and serviced for residential developments would be left out of the Budget.

The Greens were said to have been “blindsided” by an announcement that the introduction of the – already delayed – fees would be further postponed. Since, the Coalition have been in ongoing talks to resolve the issue.

Farmers believe, however, that the fee unfairly targets them as some of their land may go unused for particular portions of the year and the finance department have been looking at ways to exclude the cohort

A final decision is expected to be agreed upon before Budget day, but Green Party Leader Roderic O’Gorman today told The Journal that a resolution has yet to be set out – two weeks away from 1 October.

Asked if he believed discussions were taking too long, O’Gorman said: “I feel good work is taking place, but no final decisions have been made.”

He added that the Green Party believes the tax must be put in place to tackle those hoarding land and so that the Government is “seen as being serious in tackling the housing crisis”.

Asked again if he thinks the discussions should be better prioritised, the Green leader said: “We have good engagement with officials from the Department of Finance, and I know this issue has been taken really seriously.”

Includes reporting by Muiris O’Cearbhaill

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53 Comments
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    Install the app to use these features.
    Mute John Fogarty
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    Feb 8th 2013, 7:30 PM

    No wonder they’re only £1.29!

    55
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    Mute John O'Neill
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    Feb 8th 2013, 8:57 PM

    I don’t care, I’m having one as my mane course tonight…

    53
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    Mute Paul Keenan
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    Feb 8th 2013, 7:21 PM

    So look’s like we’ve all been eating Horse meat for quite a while! Ah well haha

    52
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    Mute Jane Bresnan
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    Feb 8th 2013, 7:45 PM

    Only those who bought their meat processed and frozen instead of from a butcher…

    72
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    Mute tom
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    Feb 8th 2013, 9:33 PM

    If only you knew. Enjoy the mince meat

    18
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    Mute John Arrigan
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    Feb 8th 2013, 7:51 PM

    I won’t be eating Findus products furlong more after this!!

    49
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    Mute Spudicus
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    Feb 8th 2013, 7:15 PM

    Horse related pun

    39
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    Mute Dec Rowe
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    Feb 8th 2013, 7:22 PM

    Trot on son!

    19
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    Mute Nydon
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    Feb 8th 2013, 7:10 PM

    Shouldn’t be a problem for a watchdog should it? One big sniff of a sample and off he goes tail wagging vigorously.

    34
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    Mute Niallers
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    Feb 8th 2013, 7:32 PM

    I was suspicious after I had a dose of the trots ..

    28
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    Mute John Sheahan
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    Feb 8th 2013, 9:31 PM

    This just in: Tesco to pull Pedigree Chum due to reports it contains 90% beef.

    26
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    Mute William Bayle
    Favourite William Bayle
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    Feb 8th 2013, 8:14 PM

    1£29 for a kilo of lasagna the shitiest minced beef would cost around 4€/kg
    And everyone is so surprised ! Mon dieu damn French ! Wake up if you want to know what you eat cook it yourself ! It’s not that hard !

    22
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    Mute Frank Buffalo
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    Feb 8th 2013, 8:38 PM

    Oh contraire you beast…

    5
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    Mute Peter Richardson
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    Feb 8th 2013, 8:21 PM

    As long as it was only horse meat that was added!

    17
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    Mute Niallers
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    Feb 8th 2013, 8:26 PM

    I hope the cat isn’t out of the bag.

    23
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    Mute Richard Rodgers
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    Feb 8th 2013, 7:53 PM

    What a bunch of seriously challenged people that believe this fraud and reputational damage is a cause for childish humor.
    When the European consumers quite naturally decide that they can no longer trust processed foodstuffs purporting to contain beef then some five to seven thousand Irish jobs will disappear overnight and your pathetic jokes will look as foolish as they are now.
    The real problem is the free access people have to serious journalism by way of commentary and simplest with which this can be viewed instantly around the world.
    We do tend to make ourselves look rather unconcerned and silly!

    15
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    Mute Ciaran Morgan
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    Feb 8th 2013, 8:12 PM

    The Irish beef industry has only itself to blame.

    20
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    Mute Frank Buffalo
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    Feb 8th 2013, 8:13 PM

    Richard you’re gas.
    By gas I mean…

    19
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    Mute Mike Clinton
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    Feb 8th 2013, 8:15 PM

    Awww why don’t you go along and get ****** you self righteous pompus *****.
    You must be the saddest person in the country with nothing to do in life except troll .
    People are sick to the teeth with your constant insults.

    29
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    Mute Peter Richardson
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    Feb 8th 2013, 8:24 PM

    @ Dicky Dodger, you remind me of the nether region of a horse. Giddy up boy.

    16
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    Mute Niallers
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    Feb 8th 2013, 8:24 PM

    Richard, you are show jumping to conclusions.

    24
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    Mute Jeff Swords
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    Feb 8th 2013, 8:27 PM

    You do realise that product in question was French and nothing to do work Irish beef ? Obviously not.

    42
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    Mute William Bayle
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    Feb 8th 2013, 8:31 PM

    ? Why the Irish beef industry has nothing to do with it ? Please explain further

    18
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    Mute Ciaran Morgan
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    Feb 8th 2013, 8:57 PM

    2 reasons:
    If a product is sold as 100% Irish beef the industry as a whole should be making sure it is.

    Larry goodman. Happy to export Irish beef and import polish horse without any checks on the origin of the meat.
    Anyone who imports goes to the source of the product to check standards, working conditions, quality control. Why didn’t silvercrest do this?
    This has tainted the Irish beef industry internationally, an industry that didn’t do enough to protect itself (again).

    14
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    Mute William Bayle
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    Feb 8th 2013, 9:16 PM

    You might have a point last week on the burgers but those lasagna have nothing Irish produced in Luxembourg with French supplied “meat”
    IMO it’s a European problem with all the rules quotas and controls established by the eu members we shouldn’t have to check what’s been produced in the Eurozone !
    One more point I think if the Irish and English didn’t kick a can of worm with advanced DNA testing we probably would have never find out so I think it s a credit to the Irish beef industry to be ahead of their European counterpart in quality control !

    17
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    Mute Ciaran Morgan
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    Feb 8th 2013, 9:21 PM

    It wasn’t the beef industry, it was the food safety board.

    4
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    Mute Ciaran Morgan
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    Feb 8th 2013, 9:24 PM

    Dies anyone remember the foot and mouth crisis and the farmers who illegally moved their cattle, risking the entire industry for a quick buck? Remember the angel dust convictions?
    Now we can add untraceable imported horse meat, slaughtered with no regulations or monitoring.

    6
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    Mute John Kenny
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    Feb 8th 2013, 10:02 PM

    Why are we importing beef products we have a perfectly good Irish supply why not use that only and tax the arse off a company that wants to import their beef?

    10
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    Mute Rob
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    Feb 8th 2013, 7:29 PM

    A watchdog looking for horsemeat… Hmmmm

    11
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    Mute Bands Available
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    Feb 8th 2013, 7:33 PM

    I could tackle a burger!

    9
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    Mute Gary Guilfoyle
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    Feb 8th 2013, 7:49 PM

    I’d day we done all the horse puns by now

    9
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    Mute Peter Richardson
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    Feb 8th 2013, 10:15 PM

    Kenny to the Nation ” Let them eat horse”

    9
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    Mute Thosj Carroll
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    Feb 8th 2013, 7:21 PM

    I was in Tesco yesterday & saw Findus packs in cool shelfs. I said to them…..hi but I’m not taking you home!

    8
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    Mute Jason Bourne
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    Feb 8th 2013, 7:27 PM

    In the words of the virgin mary, come again???

    36
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    Mute Frank Buffalo
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    Feb 8th 2013, 7:41 PM

    I need a pint after that.

    15
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    Mute Mike Clinton
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    Feb 8th 2013, 10:30 PM

    I suppose they are going to tell us fish don’t have fingers & chickens don’t have balls !!!

    23
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    Mute Frank Dowling
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    Feb 8th 2013, 11:10 PM

    Ahh come on now.. shurely der part of a stable diet?

    8
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    Mute Peter Richardson
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    Feb 8th 2013, 10:10 PM

    Someone was making hay while the horse whined

    7
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    Mute Keith Wizzy
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    Feb 8th 2013, 7:06 PM

    Sounds like it might be 100% Irish :p

    6
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    Mute mary cull
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    Feb 8th 2013, 11:04 PM

    @Peter, go home before they eat all that straw.. You sound a bit horsey to me…

    6
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    Mute Debi-Nikita Rathbone-Rentzke
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    Feb 9th 2013, 12:40 AM

    So what are we actually consuming and who do we believe? As the consumer we are taken for a ride again.. ( no pun intended). Why do we put up with this BS? I personally WILL NOT eat horse meat, nor dog , nor rat or cat etc… So why should I be lied to and accept what ever I read is fact? it’s fk disgraceful and I am so peed off about this whole thing. What a wasteful society we humans are.

    5
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    Mute Peter Richardson
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    Feb 9th 2013, 2:14 AM

    The Irish will swallow anything.

    4
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    Mute Sharrow
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    Feb 8th 2013, 11:37 PM

    That’s what happened to the horse that was took to France

    5
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    Mute Peter Richardson
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    Feb 8th 2013, 10:11 PM

    Equus; The Pie

    4
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    Mute Peter Richardson
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    Feb 8th 2013, 10:13 PM

    Most of us are in the paddock but only a few are in the saddle

    4
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    Mute Peter Richardson
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    Feb 8th 2013, 10:14 PM

    They Shoot Horses; Don’t they

    3
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    Mute anthony byrne
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    Feb 8th 2013, 9:13 PM

    I notice that the article was posted at T time. Ummm interesting.

    1
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