Minister of Finance, Paschal Donohoe, delivered his 2nd budget today, 9th October.
His aim for the budget was to increase living standards with a balanced budget and to pave the way forward for the country in preparation of Brexit. His opening message was how Ireland should be open for business to the Rest of the World and emphasised the importance of a no hard border to be imposed between Ireland and Northern Ireland.
He announced the launch of €300 million loan schemes for SME and for the Food and Agricultural sector, a €110m program for Brexit measures, and increased funds for the Peace program. These have been introduced to help to ensure the ROI is prepared and in the best position for Brexit.
He also announced the introduction of a Rainy Day Fund to increase the country’s resilience to larger economic shocks. It is proposed to transfer some of the excess corporation tax collected last year to the Rainy Day Fund.
Highlights of the budget are set out in the links below:
- Personal Tax
- Business Tax
- Capital Acquisitions Tax
- VAT and Excise Duties
- Health and Social Welfare
A PDF version of our Summary of the Facts is available here.
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