Budget 2017: Tax cuts will not be as much as promised

Budget 2017: Tax cuts will not be as much as promised
Minister for Finance Michael Noonan, Minister of State for European Affairs, Data Protection and the EU Single Digital Market Dara Murphy, and Taoiseach Enda Kenny during Fine Gael's annual Parliamentary Party meeting at the Keadeen Hotel, Newbridge, Co. Kildare today.

Cuts to the Universal Social Charge in next month's budget won't be as dramatic as promised in the general election.

Finance Minister Michael Noonan says most of the money available will be used for public services because that's what the electorate voted for.

Budget 2017: Tax cuts will not be as much as promised

Just around €300 million will be available for tax cuts and Minister Noonan says that won't allow him do too much: "“I’m saying that because of the arrangement, despite available resources, on a 2:1 basis, between tax and expenditure, if only a third of the resources are available for tax reductions, what can be delivered is small enough.

"You can do the math yourself, there’s about a billion available, take a third of it (for tax cuts)."

More on this topic

EU signals end to austerity, calls for more spending; finds Ireland 'broadly compliant'EU signals end to austerity, calls for more spending; finds Ireland 'broadly compliant'

Childcare providers face 'major challenge' putting Budget 2017 plans in placeChildcare providers face 'major challenge' putting Budget 2017 plans in place

Leo Varadkar announces date for €5 rise in social welfare benefitsLeo Varadkar announces date for €5 rise in social welfare benefits

Government scheme for first-time buyers 'could end up as subsidy for builders'Government scheme for first-time buyers 'could end up as subsidy for builders'


More in this Section

NI mother prosecuted for buying abortion pills for teen daughter is formally acquittedNI mother prosecuted for buying abortion pills for teen daughter is formally acquitted

Trolley watch figure rises above 550Trolley watch figure rises above 550

Boy, 11, whose service dog won award now fighting cancerBoy, 11, whose service dog won award now fighting cancer

Report reveals rise in number of young children suffering from anorexiaReport reveals rise in number of young children suffering from anorexia


Lifestyle

A long-time fad dieter, Katy Harrington tried unsuccessfully to embrace body positivity, so she’s trying something new (and neutral)Plusses of positivity: Forget body positivity - it's time to go neutral

Discovering the joys of the Monaghan and Armagh landscapes while venturing north, comes highly-recommended by Noel BakerTrekking north to Monaghan and Armagh is good for the soul

Sex advice with Suzi Godson.Sex file: Where have my orgasms gone?

Producers of the new landmark Attenborough series tell Sarah Marshall about some of the fantastic animal encounters they filmed.Visit the wildlife locations featured in the BBC’s Seven Worlds, One Planet

More From The Irish Examiner