Budget Basics 2017

Budget Basics 2017

Scales with money

Tuesday afternoon, Ministers Noonan and Donohue presented the budget for 2017 to the Dail. It included a number of expected measures, along with some interesting talking points. It’s very easy to get lost in the stats, but what implications does this really have? At a breakfast briefing this morning, hosted by RBK, Ulster bank and Athlone Chamber of Commerce, some of the main areas were outlined and have been summarised below –

  • USC has been reduced by 0.5%
  • Social welfare payments are to be increased by €5 per week
  • €15 million has been allocated to bringing high-speed broadband to rural Ireland
  • The education sector will receive an extra €458 million. This will be spent on recruitment of 2400 teaching staff, €36 million on higher and further education, and a 35% increase on early years funding
  • A tax increase on cigarettes of 50c per pack
  • VRT relief on the purchase of hybrid vehicles as a measure in support of tackling climate change
  • First-time buyers will get an income tax rebate of 5% on the value of their purchase up to a cap of €20,000 refund
  • €1.2bn in funding for housing, with47,000 new social housing units by 2021
  • 800 additional Gardaí to be recruited in 2017
  • 1000 additional nurses and midwives to be recruited
  • 10c rise in the minimum wage as recommended by Low Pay Commission

There has been a mixed reaction to the budget announcement so far. The general conclusion is that while there are some positive moves, none of these are likely to have a very significant impact on the average worker.

Donie Shine

Donie Shine
Recruitment Consultant

Collins McNicholas Recruitment & HR Services Group