The Minister for Finance Mr McCreevy has delivered the fifth budget of his career to the Dáil. It is the last Budget before the next General Election.
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Petrol is to rise by 5p per litre and cigarettes will rise by 10p per 20 packet from midnight tonight.
Mr McCreevy has increased the tax-free threshold for the standard rate of income tax by £19 to £165 per week.
In announcing his changes to the tax system, Mr McCreevy said his measures would remove some 68,000 low-income earners from the tax net.
He confirmed that he would not be borrowing any monies in 2002 and predicted a Government surplus of €837 million in 2002.
Mr McCreevy acknowledged that as a result of the recent economic downturn, resources were more constrained than he would have wished and his spending plans were based on a cautious assessment of the economic prospects next year.
The health service will receive an additional €425 million, bringing total expenditure on health to €8.2 billion.
Social welfare will receive €1,079 million. The contributory old age pension will rise by £10 to £116 per week while the non contributory pension has been increased to £105 per week. All social welfare increases will be effective from January 1st 2002.
Short term unemployment assistance will increase by £9.50 per week and the fuel allowance has been increased by £2.09 per week.
Child benefit for first and second children will increase by £25 per month while the allowance for third and fourth children will rise by £30 per month.
The Irish Timesin association with PricewaterhouseCoopers will provide a table adjusted for these changes in Budget 2002 on December 6th to help taxpayers calculate their positions.