After Labour party members voted overwhelmingly to enter into a coalition government with Fine Gael at the weekend – we look briefly at how the joint draft programme for government will impact on Irish people’s pockets
Property and water charges are set to be fast-tracked – but no mention of amounts or dates yet.
Social welfare payments will be untouched .
Income Tax – rates of income tax, together with bands and credits, are to be unchanged.
Universal Social Charge – to be reviewed
Minimum Wage – The €1 cut in the minimum wage is being reversed
PRSI – jobs which pay a maximum of €356 a week will have the lower rate of PRSI of 8.5 per cent reduced by 50 per cent until the end of 2013.
VAT on services will fall from 13.5 per cent to 12 per cent until the end of 2013
Travel Tax is to be scrapped.
Universal Health Insurance is hoped to be in place by the end of the new government’s term in 2016. The privatisation of the VHI is being scrapped aUnder this “universal primary care” system, fees for GP care will be removed.
Property tax reliefs will be reduced, capped or abolished.