Budget 2011

Dear Readers,

So you may have seen that Finance Minister Brian Lenihan has just announced the Budget for 2011.
Here are some of the main points:

•  Social Welfare cut by 4%

• 1% property tax on all property sold: old or new - abolishment of Stamp Duty relief

• Taoiseach's wages cut by €14,000

• Pay cut of €10,000 for all ministers

• 15,000 vacancies created for internships and work placements

• Air travel tax decrease from €10 to €3

• Petrol prices increased to 4c per litre, Diesel price increased to 2c per litre, starting tonight

• No increase in prices for cigarettes or alcohol

• The Income Levy and Health Levy will be abolished and replaced with a Universal Social Charge

• Maximum income is now capped out €250,000

• public service pensions above €12,000 a year will be reduced by an average of 4%. Those on a pension below €12,000 a year, roughly equivalent to the value of the social welfare pension, will be exempted

• a married couple with no children earning €25,000, their net income will fall by 2.8% or €12 per week. For a similar family with two children, net income will fall by just 1% or €5 a week.

• Employer PRSI relief on employee pension contributions is being reduced by 50% from 1 January next.

• here will be a €10 reduction on both lower and higher child benefit rates with an additional €10 reduction for a third child only.

• Goverment transport (expensive cars) to be changed 

Click here to view the full budget: BUDGET 2011


Do you think the budget is fair?