A summary of Budget 2012.

1. Minister for Finance Michael Noonan
Minister for Public Spending & Reform Brendan Howlin

2.  Public Sector
 Social Welfare
 Education
 Transport
 Health
 Environment
 Enterprise
 Justice

3.  €400m savings in Public Sector pay bill by 2013
 10pc cut in overtime
 5pc cut in allowances
 Reduced allowances and secretarial support for
former Taoisigh
 Limited recruitment across public sector
Economic impact?? Merit goods!

5.  €250 increase in college registration ( €2,250). This will
create an additional €18.5m per annum in revenue.
 Primary school transport increase to €100
 Back-to-school clothing allowance for under-4 abolished.
Reduced by €50 for primary and post-primary ( yield
€30m)
 School Capitation down 2pc
 €30m investment for training initiatives for unemployed
 950 teaching jobs to go (700 post-primary)

7.  Threshold of drugs payment scheme to
increase to €132
 Charges for private beds in public hospitals
to rise ( health insurance increase!!!)
 Free GP for long-term illness
 2pc cut in disability, mental health and
children services
 Reduction in use of agency staff
 Prescription charge to remain (50c)

8.  Weekly social welfare payments unchanged
 Child benefit for first and second child unchanged- reduced
from €167 to €148 for third child and from €177 to €160 for
fourth plus
 Rent supplement change- pay €30 per week up from €24
 Fuel allowance paid for 26 weeks not 32 weeks
 Disability payments down by 50pc for young people.
 Part time job seekers down 20pc ( saves € 5.9m)
 Economic impact??

9. Household charge €100 from January 1st
Waived for those on mortgage assistance and living in unfinished
housing estates

10.  31 Garda stations to close
 Garda budget cut by €79m

12.  Income tax rates and bands unchanged at 20%
and 41%
 Higher rate of VAT increased to 23%
 USC- exemption raised to €10,036
 Carbon tax from €15 per tonne to €20 per tonne
 - petrol up 1.4c
 -diesel up 1.6c
 -€17.32 on oil
 -€14.46 on gas
 -no change on solid fuels

13.  Cigarettes up 25c per pack of 20
 Alcohol unchanged (legislation planned on
low cost alcohol)
 Motor Tax changes from January 1st:
 Band A up €56 to €160
 Band B up €69 to €225
 Band C up €28 to €330

14.  Capital Acquisitions tax up from 25pc to
30pc
 Capital gains tax up 25pc to 30 pc
 DIRT tax up 27pc to 30pc (discourage
leakage of savings)
 Corporation tax unchanged at 12.5pc

16.  30% relief buyers 2004-2008
 25% first time buyers 2012
 15% for non first time buyers

17.  Gambling legislation to be introduced for
online betting
 Research and development expenses of
€100,000 can be used as a tax credit

18. Forecast GDP 1.3 % growth for
2012

19. Currently over 14%
unemployment