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Budget 2022 Live Blog: Everything YOU need to know!

Budget 2022 Live Blog: Everything YOU need to know!

Want to know what Budget 2022 will mean for you?

Budget day is here and we’ll be feeding you up to the minute updates on the facts & figures that matter most to you.

MAIN POINTS

Young People

  • SUSI grant will be increased by €200 with changes to who can avail of the scheme.
  • €200 fee for post leaving cert (PLC) courses scrapped.
  • Half price public transport for those aged 19-23.
  • Free contraception for women aged 17-25 from August 2022.

Parents

  • Parents benefit to increase by 2 weeks to 7 weeks from July 2022.
  • €10 extra for back to school allowance & working family payment.
  • Extension of free GP care for children aged 6 and 7
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Homeowners

  • Help to Buy scheme extended into 2022.

Motorists 

  • A fill of petrol will rise by €1.28, while a fill of diesel will rise by €1.48.
  • Revised VRT system: 1% increase in VRT for bands 9-12, 2% increase for bands 13-15 & 4% increase for bands 16-20.

Employees

  • Employees will be able to claim back 30% of vouched expenses for heat, electricity and broadband for working from home.
  • PRSI - Reducing the number of contributions for treatment benefits from 260 to 39 weeks.
  • The ceiling for the second band of USC will rise to €21,295.
  • Minimum wage to increase to €10.50 per hour.
  • Highest employee rate of tax increased by €1,500.
  • Personal tax credit, employee tax credit and earned income credit increasing by €50.

Carers:

  • Thousands more carers in line to receive allowance.
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Tobacco

  • Excise on a 20 pack of cigarettes to go up by 50c with a pro-rata on other tobacco products.

Social Welfare & Pensions

  • Full Christmas bonus to be paid.
  • €5 extra a week for working-age welfare payments (includes €5 euro for young jobseekers)
  • €5 a week increase in state pension & €3 a week increase to living alone allowance.

LIVE UPDATES

13:13: Employment Wage Subsidy Scheme extended in graduated rate until 30th April 2022.

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13:17: Reduced VAT rate of 9% for hospitality sector will remain in place until August 2022

13:18: Employees will be able to claim back 30% of vouched expenses for heat, electricity and broadband for working from home.

13:19: Highest employee rate of tax increased by €1,500.

13:20: Personal tax credit, employee tax credit and earned income credit is being increased by 50 euro.

13:20: Personal tax credit, employee tax credit and earned income credit increasing by €50.

13:21: Minumum wage to increase to €10.50 per hour.

13:22: The ceiling for the second band of USC is rising to €21,295.

13:23: A Zoned Land Tax will be introduced applying to land which is zoned for housing and serviced but is not being developed. The rate will be 3% of market rate.

13:24: Help to Buy scheme extended into 2022.

13:25: €7.50 increase in the carbon tax which will be reinvested in social welfare measures on fuel poverty and a just transition.

13:26: A revised motor tax system: 1% increase in VRT for bands 9-12, 2% increase for bands 13-15 & 4% increase for bands 16-20.

13:35: Excise on a 20 pack of cigarettes going up 50c with a pro-rata on other tobacco products

13:50: Proposals on a pandemic bonus to be brought forward in the coming weeks.

13:51: Ireland to join OECD agreement to increase corporate tax to 15%.

13:55: €60m for extension of commercial rates waiver for Q4 of 2021 targeted at hospitality, arts and tourism.

13:56: Half price public transport for young people to be introduced.

13:57: €6bn to be invested next year in housing, 15.6% up on 2021.

14:01:  Free contraception for women aged 17-25 from next August

14:05: €37m for expansion of mental health services.

14:06: 8,000 new posts across the HSE.

14:07: €28m for ending direct provision.

14:09: €25m for a new youth travel card with anyone aged 19-23 will get 50% discount on public transport.

14:10: 980 teachers and 1,165 new SNAs to be hired.

14:15: The SUSI grant will be increased by €200 and changes to who can get it.

14:16: €200 fee for post leaving cert courses will be scrapped.

14:20: €5 extra a week for working-age welfare payments (includes €5 euro for young jobseekers).

14:21: €5 a week increase in state pension & €3 a week increase to living alone allowance

14:22: 800 extra Gardaí to be recruited.

14:24: Parents benefit increase by 2 weeks to 7 weeks from July 2022.

14:27: €10 euro extra for the back to school allowance & working family payment.

14:28: Domiciliary Care Allowance from 3 to 6 months

14:29: Rate of wage subsidy scheme for disabilities will rise by a euro a week.

14:29: PRSI - Reducing the number of contributions for treatment benefits from 260 to 39 weeks.

14:30: Fuel allowance increasing by €5 a week

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