The 15 ways the new government plan will affect your pocket
Smart Money: Taxes, pensions and housing all included in Programme for Government
As presumed incoming taoiseach, Fianna Fáil leader Micheál Martin will preside over many changes to tax, welfare and spending that will affect our family finances. Photograph: PA Wire
What will the Programme for Government mean for your pocket? The programme has implications for everyone in terms of tax, welfare and areas of government spending that affect our finances – for example grants to retrofit homes or buy electric cars, help to first-time buyers and those taking out mortgages and commitments on childcare bills. Meanwhile increases in PRSI and carbon taxes are flagged. as well as changes in the local property tax – and long-suffering smokers will be hit again. Here are the details, mined from the 125-page programme.
1. Income tax
Income tax and USC. There will be no increase in income tax and USC rates over the period of the government. The burden of these taxes can, of course, be increased or decreased without changing the actual rates. Here, there is some news too.