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08/04/2009
Republic Takes 'Strenuous Steps' To Recovery
The Irish Republic's second 'emergency budget' was announced yesterday, with the Finance Minister outlining six steps to recovery.
In an effort to get on top of a huge multi billion euro deficit the country is facing, Brian Lenihan said in order for Ireland to recover "we must stabilise our public finances, restore the damaged banking system, regain international competitiveness, protect jobs and create growth, stimulate economic confidence and restore the financial reputation abroad and the damage done by the 'no' vote in the Lisbon Treaty".
Mr Lenihan's budget has therefore been 'tax heavy' to recapitalise the government's finances, with the levy being doubled.
Those earning more than €15,028 will be hit by a 2% levy, those earning over €75,036 will pay 4% and workers on €174,980 or more will pay 6%.
The other major changes are in welfare payments, in order to stem the government's outgoings.
The jobseekers' allowance has been halved for under-20s and rent supplement will be reduced.
Child allowance will be means-tested from next year, and in a move expected to spark fierce criticism, the traditional Christmas bonus will not be paid.
The opposition party Fine Gael have already claimed "Christmas is cancelled" over the policy.
Family Affairs Spokesman Olwyn Enright said: "The axed Christmas bonus for welfare recipients is a measure of Scrooge-like proportions which will hit the most needy in society."
The early childcare supplement will also be halved from May 1, and will be abolished at the beginning next year, to be replaced by a different scheme.
TDs would also have to face cuts with a range of measures announced for Minister's pay. There will be a 10% reduction in their expenses, except for mileage rates and long service payments, while ministerial pensions and teacher's pensions for serving TDs have been abolished.
The salary of Oireachtas Committee chairs will also be halved, and a review of TDs' salaries will be completed by July, using a benchmarking system compared to their European colleagues.
Other measures included a price of 20 cigarettes by 25c while the price of diesel increased by five cents per litre.
The Budget is due to be discussed throughout the day in the Daíl, and reaction to the budget is expected to filter in throughout the day.
See: Irish Budget Targets Cross Border Shopping
(DW/BMcC)
In an effort to get on top of a huge multi billion euro deficit the country is facing, Brian Lenihan said in order for Ireland to recover "we must stabilise our public finances, restore the damaged banking system, regain international competitiveness, protect jobs and create growth, stimulate economic confidence and restore the financial reputation abroad and the damage done by the 'no' vote in the Lisbon Treaty".
Mr Lenihan's budget has therefore been 'tax heavy' to recapitalise the government's finances, with the levy being doubled.
Those earning more than €15,028 will be hit by a 2% levy, those earning over €75,036 will pay 4% and workers on €174,980 or more will pay 6%.
The other major changes are in welfare payments, in order to stem the government's outgoings.
The jobseekers' allowance has been halved for under-20s and rent supplement will be reduced.
Child allowance will be means-tested from next year, and in a move expected to spark fierce criticism, the traditional Christmas bonus will not be paid.
The opposition party Fine Gael have already claimed "Christmas is cancelled" over the policy.
Family Affairs Spokesman Olwyn Enright said: "The axed Christmas bonus for welfare recipients is a measure of Scrooge-like proportions which will hit the most needy in society."
The early childcare supplement will also be halved from May 1, and will be abolished at the beginning next year, to be replaced by a different scheme.
TDs would also have to face cuts with a range of measures announced for Minister's pay. There will be a 10% reduction in their expenses, except for mileage rates and long service payments, while ministerial pensions and teacher's pensions for serving TDs have been abolished.
The salary of Oireachtas Committee chairs will also be halved, and a review of TDs' salaries will be completed by July, using a benchmarking system compared to their European colleagues.
Other measures included a price of 20 cigarettes by 25c while the price of diesel increased by five cents per litre.
The Budget is due to be discussed throughout the day in the Daíl, and reaction to the budget is expected to filter in throughout the day.
See: Irish Budget Targets Cross Border Shopping
(DW/BMcC)
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09 March 2011
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07 July 2009
Assembly Recalled Over Budget
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As anticipated last week, a special sitting of the Stormont Assembly will be held later today to debate Finance Minister Sammy Wilson's June budget statement.
23 June 2009
'Onus On' Finance Minister To Fund Housing Pledges
An SDLP assemblyman has called on the Finance Minister to increase the housing budget in order to meet housing need and help secure maintenance contracts. Thomas Burns, the SDLP's housing spokesman, said Social Development Minister Margaret Ritchie does not have the power to increase her own allocation.
'Onus On' Finance Minister To Fund Housing Pledges
An SDLP assemblyman has called on the Finance Minister to increase the housing budget in order to meet housing need and help secure maintenance contracts. Thomas Burns, the SDLP's housing spokesman, said Social Development Minister Margaret Ritchie does not have the power to increase her own allocation.
17 April 2009
Executive Finance Plan Needs Pre-Budget Fillip Says MLAs
Local politicians are warning that next week's UK Budget will have a severe impact on finance for the Stormont devolved administration. Ahead of Chancellor Alistair Darling traditional statement, Ulster Unionists (UU) are to step up pressure for a fresh look at the NI Executive's own three-year budget arrangements.
Executive Finance Plan Needs Pre-Budget Fillip Says MLAs
Local politicians are warning that next week's UK Budget will have a severe impact on finance for the Stormont devolved administration. Ahead of Chancellor Alistair Darling traditional statement, Ulster Unionists (UU) are to step up pressure for a fresh look at the NI Executive's own three-year budget arrangements.
04 March 2011
Budget Spending Close To Agreement
There have been both winners and losers as a 'final' budget package is presented to a special session of the Stormont Assembly today. The package has also had both backers who favour the harsh economic measures and those who have opposed it - and even voted against the deal.
Budget Spending Close To Agreement
There have been both winners and losers as a 'final' budget package is presented to a special session of the Stormont Assembly today. The package has also had both backers who favour the harsh economic measures and those who have opposed it - and even voted against the deal.
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Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
