BUDGET 2016 HIGHLIGHTS
1. Childcare Incentives:
– Free preschool from age 3 to 5½ years:
I have consistently raised this issue in my pre-budget submissions
– €5 increase in Child Benefit to €140 per month
– Paid paternity benefit for 2 weeks
2. 600 more Gardaí:
– 900 new Gardaí recruited since this Government reopened Templemore.
I have once again written to the Minister for Justice and the Garda Commissioner to allocate a number of these new recruits to Kildare
3. Smaller classes, more teachers:-
– Pupil teacher ratio now 27:1
– 2,260 additional teachers to be recruited in 2016
I met with a number of teachers and Principals recently and constantly pressed the Minister to listen to their concerns
4. USC changes to benefit all:
– Entry level to USC increased to €13,000
– 700,000 now exempt from the payment
– USC rates to fall from 1.5% to 1%; 3.5% to 3%; 7% to 5.5%
5. Property Tax Valuation Frozen:
– House valuations to remain the same until 2019
CHANGES TO SOCIAL WELFARE PAYMENTS
- Christmas Bonus increased from 25% to 75% for long term recipients
- Weekly Pension increased by €3 for those aged 66 years or over
- Child Benefit increased by €5 to €140 per child
- Carer’s Allowance to be paid for 12 weeks (up from 6 weeks) after the death of the person being cared for
- Fuel Allowance increased by €2.50 to €22.50 per week
- Family Income Supplement threshold increased by €5 per week for each of first two children
- €2 increased for Qualified Adults under 66 yrs & €2.70 over 66 yrs
- Carer’s Support Grant increased by €325 to €1,700 per year (formerly the Respite Care Grant)
SUPPORT FOR BUSINESS
- Earned Income Tax Credit of €550 for Self Employed
- Capital Gains Tax reduced from 33% to 20% up to an overall limit of €1 million
- Entry point for employer PRSI increased by €20 per week to €376 per week
- Reduce costs and incentivise electronic payments saving retailers an estimated €36 million in fees per year
- Commercial Road Tax simplified and reduced – tax starting at €92 up to €900
- 9% VAT on Tourism Sector remains
- Micro breweries relief will now be available upfront
HOUSING
- NAMA to deliver a target of 20,000 residential units before 2020, 90% of these in the Greater Dublin Area
- 17,600 people to have their housing needs addressed in 2016
- 9,500 social housing units by 2018: 3,100 will be provided in 2016
SHARING THE BENEFIT OF ECONOMIC RECOVERY
- Minimum wage will increase from 1 January 2016 to €9.15 per hour
- A single worker on the minimum wage will see €708 increase in annual net income
- Paternity Benefit Scheme to be introduced from September 2016
- Free GP care extended to under 12s