Cigarettes prices to rise by 50 cent per pack of 20

Charlie McCreevy has announced the increase in excise duties.

There will be a 50c increase in the price of 20 cigarettes.

Drinks will increase by 20c for spirits and 35c for "alcopops".

In other budget developments, the Minister for Finance has announced that the first phase of the benchmarking process will be paid.

Stamp duties on cheques and credit cards will be increased largely. The annual duty on credit cards is up to €40 while duty on ATM cards will be €10 per annum.

In other news, there has been no increase in income tax rates.