FINANCE MINISTER MICHAEL Noonan has announced that there will be no VAT increases on petrol, diesel, homeheating oil or gas.

This announcement is bound to be welcomed by groups representing those on low incomes and in particular older people, as we head into the winter months.

There will be no change in any VAT rates, income tax or to the Universal Social Charge next year, Noonan said.

However, there will be an increase in excise duty for wine, spirits and cigarettes.

For all the latest updates, keep an eye on our Budget 2014 Liveblog…

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No increases in VAT or income tax next year

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.