€1,000 home tax looks likely to boost coffers

HOMEOWNERS look likely to be hit by a €1,000-a-year property tax after the levy was recommended by a major economic think-tank.

As the Government pledged not to means test pensions in the upcoming budget, the Economic and Social Research Institute said the homes tax would raise €1.1 billion a year.

With ministers seeking €15bn worth of cuts over the next four years, the tax now looks almost certain to be brought back in as Ireland’s debts crisis continues to worsen.