BUDGET 2020

Key points from Budget 2020 announced by Minister Paschal Donohoe today

Sarah Smyth

Reporter:

Sarah Smyth

Key points from Budget 2020 announced by Minister Paschal Donohoe today

Key points from Budget 2020 announced by Minister Paschal Donohoe today

Here are some of the main talking points from today's budget:

  • No tax cuts
  • Carbon tax is up €6 per tonne and applies from midnight tonight on auto fuels -  other carbon tax changes to other fuels will come into effect in May 2020
  • Nitrogen oxide (NOx) emissions-based charge for cars registering for first time from Jan 1 2020
  • Free GP care for children under eight as well as free dental care for children under six by September
  • Payment of 100% Christmas bonus to all social welfare recipients
  • Jobseekers allowance for 25-year-olds is being increased to the full rate from €157.80 to €203
  • €5 increase to the Living Alone Allowance
  • One Parent Family Payment and Jobseeker Transition to rise by €15
  • €10 increase for Working Family Payment income threshold
  • Home carers' credit to be increased by €100
  • Earned income tax credit will  be increased by  €150 to €1,500 for self-employed people
  • Home carers' credit to be increased by €100
  • Earned income tax credit will  be increased by  €150 to €1,500 for self-employed people
  • €2bn for rural Ireland Farm restructuring relief  extended to December 2022
  • Inheritance tax threshold will increase by €15,000  to €335,000
  • Funding for 700 new Gardai
  • Funding for 150 new mainstream teaching posts
  • Funding for special education to fund over 400 new teachers and over 1,000 special needs assistants

And finally, €1.2bn has been allocated for Brexit.  In case of a no-deal Brexit, €220 million will be  released immediately while a further €650 million has been allocated for agriculture and tourism and €85 million for beef farmers.  

A sobering  €365 million will be provided for additional Social Protection expenditure in the event of a no-deal Brexit and €45 million has been announced to assist people to transition to new work.