Irish Budget offers support for homeowners
Published: 11 December, 2009
DUBLIN: The Irish Government outlined a tough budget for 2010 yesterday.
It featured expenditure cuts of 2bn euros in 2011 through water charges, a property tax and public sector reforms.The Government is also planning a radical overhaul of the tax collection and health insurance levy system which will widen the tax base.Finance minister, Brian Lenihan cut 4bn euros from spending in Budget 2010 and introduced carbon taxes and hidden charges in the health sector.
The Budget introduces a carbon tax seeing petrol rise by 4c a litre and diesel by 5c a litre.
But, the minister added some sweeteners, reducing VAT to 21% and incorporated measures to encourage first-time home buyers to enter the market, by setting a deadline for claiming mortgage interest relief.