Lobby groups, parties disagree over Budget

Opposition parties are criticising the budget announced by Charlie McCreevy this afternoon.

Fine Gael's spokesperson for Finance, Richard Bruton, says that the ordinary people have been hit by today's news.

He says teachers, bus drivers, nurses will be the type of individuals who will be paying the new charges today.

However, Mr McCreevy has given tax credits for first-time house buyers in this Budget. The mortgage relief for first-time buyers has been increased. The annual ceiling on interest has now been raised from €3,175 to €4,000.

Nonetheless, the Irish Property Owners Association have said that they are very disappointed with the Budget.

The group, which essentially represents private landlords, says that effectively incentives for rented accommodation have been rolled back this afternoon.

Citing an example, the group said that refurbishment compensation will now only occur after a period of eight years rather than five years.