A. Social welfare claimants as well as the self-employed and PAYE workers, through income tax and PRSI changes. Landlords will also be hit through the overhaul of property-related reliefs. Some on lower levels of pay will now have to pay tax.
A: The average industrial wage in Ireland in 2010 is €36,000. After the budget overhaul, their take home pay will be slashed by €1,392 a year or €26.77 a week.
A: Civil servants — their pay has not been touched. Old age pensioners will be relieved their state pension has avoided the axe. The wealthy elite will be happy: what they have, they hold.
A: Proposed changes to PRSI and income levies, which are to be scrapped and replaced with a single universal social contribution. Workers on as low as €10,000 a year will be €200 less well off. Also, the abolition of property reliefs which fuelled the property bubble.
A: Tax rarely invigorates the economy, but there is a golden opportunity in this crisis to widen the narrow tax base. There is very little taken from capital and wealth taxes in Ireland — which affect the richest — and reform here could reap revenue.
A: The newly reduced minimum wage should apply mostly to newly employed workers who don‘t have existing contracts. About 50,000 workers are already on the minimum wage. Finance Minister Brian Lenihan said they will not have to pay tax.
A: The Government missed an opportunity to boost taxes on the wealthy elite. There has been no real change in capital gains tax with only minor changes to the threshold of capital acquisitions tax. Changes could have raised billions of euro.
A: They will be difficult to achieve. They assume the economy will grow at twice the EU average. This is hard to imagine as spending cuts and tax hikes will drive prices down.
A: It is going to make funding private pensions much more expensive. High earners who paid the maximum contribution and got 41% relief will be hardest hit. Company pensions are now more attractive and may become more popular.
A: No. An increase in VAT rate would hit an already struggling retail sector and those on lower incomes more severely.
A: A 2.5% rise would raise €500 million. Three-quarters of the money raised from the tax comes from multinationals and large corporations. They employ 100,000 people here and some argue they could pull out over any hike.