Dail opposition parties will now give their reaction to budget 2021 in the Dail (sitting at Dublin's Convention Centre) this will continue up to 8pm before the Dáil takes a break
From 8.30pm onward, TDs will vote on any financial measures, such as increasing vat on cigarettes, that must pass by midnight. The Dáil is not due to adjourn until 12.40am.
However, budget day really only begins the process of bringing in the measures announced this afternoon, as the Finance Bill and Social Protection Bill, will take months to pass.
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2:36pm: Minister Michael McGrath wraps up his speech reminding us that our resources are not limitless and they must be used correctly. He quoted JFK and said that we have in the past faced what looked like insurmountable challenges and the Government would do "everything in its power to protect our people"
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2:33pm: The planned pension age increase in Jan 2021 WON'T proceed
Christmas bonus to be paid to those on PUP and other welfare if they've been on that for 4 months instead of usual 15.
7% increase in budget for rural affairs including town and village renewal scheme and 5m for new digital hubs in rural Ireland.
The garda budget will also be increased to allow for 620 new garda recruits and 500 new civilian staff
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2:25pm: Social welfare rates to be maintained in 2021.
Increase in the Living Alone allowance of €5 to €19
Fuel allowance up by 3.50 a week to €28.
Children's Benefit up by 5 euro for over 12s and 2 euro for under 12s
Increase in carers support grant by 150 to 1850 a year
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2:22pm: In education measures: Department of Education will have an 8.9bn euro budget
Education: Department of Education will have an €8.9bn euro budget. 900 additional SNAs to be hired and 403 additional teachers. Read more here: https://t.co/MZph8wmnJ8 #Budget2021 #WLRNews pic.twitter.com/wJVNNTzFPy
— WLR (@wlrfm) October 13, 2020
2bn of that will be put towards children with special education needs - a record allocation - to allow for the hiring of 900 additional SNAs and 403 additional teachers
When hired there will be 18,000 SNAs - more than ever before
There will also be a reduction in the pupil-teacher ratio to 25:1 through the provision of 300 mainstream teaching posts.
At third level: 3.3bn budget for Higher Education Dept. SUSI grant for postgraduates will rise by 1,500 to 3,500 and income eligibility threshold has been changed.
A 50m fund to give all third level full time students 250 euro
Big changes in education staffing being announced:
➡️ 990 additional SNAs
➡️ 403 SEN teachers
➡️ 300 new teaching posts to reduce pupil:teacher ratio to 25:1.— Marc Ó Cathasaigh TD (@MarcKC_Green) October 13, 2020
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2:20pm: An additional 100m of carbon tax revenue will be put towards energy efficiency of our homes.
An additional 1 billion euro for public transport in 2021. There will be increased deployment of electric cars across the public service
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2:15pm: 55m for a tourism business support scheme and 5 million for tourism product development.
14 m extra for the Gaeltacht and Irish language to 78 million total.
50m for live entertainment supports and arts council funding to increase it to 130m.
Increase of 36m for Sport Ireland.
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2:10pm: There will be an increased emphasis on digital up-skilling. 10,000 upskilling opportunities and 4,000 new apprenticeships
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2:05pm: 5.2 billion for Dept of Housing - increase of 773 million on 2020 - a record level of funding.
€5.2bn for Dept of Housing – increase of €773m on 2020 – a record level of funding. €500m for capital expenditure on housing for 9,500 new social housing units in 2021. Read more here: https://t.co/MZph8w4MRA #Budget2021 #WLRNews pic.twitter.com/V9TKps4ziT
— WLR (@wlrfm) October 13, 2020
500m for capital expenditure on housing for 9,500 new social housing units in 2021. 65m for deep retrofitting of existing social housing.
22m for homelessness programmes including additional beds and 110m for affordable housing package for affordable and cost rental.
The Land Development Agency will have 1.2 billion of funding available when it's set up - it will be tasked with delivering nearly 9,000 affordable housing and cost rental over next few years
Here's what the Govt is officially promising for #Housing in #Budget2021
I genuinely hope this is all delivered without delay. Irish people NEED this to be successful.
We've seen targets before, let's see what's ultimately delivered, versus what's been promised today. pic.twitter.com/u8vptOAwOk— David Hall (@davidhall75) October 13, 2020
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2:00pm: Minister announces an extra four billion euro for the health service - this will include 100,000 Covid tests per week, as well as PPE and other measures.
An extra 1,146 acute beds. Increase in critical care beds to 321 by end of the year from 255 pre-COVID. 1,250 community beds in 2021 including 600 new rehabilitation beds. Read more here: https://t.co/MZph8w4MRA #Budget2021 #WLRNews pic.twitter.com/TCk1KQqWpM
— WLR (@wlrfm) October 13, 2020
An extra 1,146 acute beds; Increase in critical care beds to 321 by end of year from 255 pre-COVID; 1,250 community beds in 2021 including 600 new rehabilitation beds.
5 million for development of community-based dementia supports and 100m for disability services
€38m for new mental health measures delivered under the Sharing the Vision MH policy #Budget21
— Ian Power (@powerian) October 13, 2020
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1:58pm: Slaintecare, houses, and greening the economy are to be put centre stage. Total capital expenditure will rise over 10 billion for the first time ever
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1:55pm: Minister McGrath announces 500m in additional expenditure for businesses in addition to tax measures
For local authorities - the commerical rates waiver will be extended for final quarter of this year at cost of 300m. An additional 44 million for Irish Water for infrastructure .
80 million extra for school building programme, ICT and minor works scheme for Dept of Education
and an extra 10 million euro for voluntary hospices
Delighted to welcome additional €20m in funding for voluntary disability organisations and €10m for hospices in #Budget2021 pic.twitter.com/wXMYHcgwig
— Mary Butler TD (@MaryButlerTD) October 13, 2020
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1:50pm: Minister for Public Expenditure and Reform Michael McGrath has begun delivering his Budget 2021 speech to the Dáil
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1:47pm: Wrapping up his portion of Budget 2021 speech Minister for Finance Paschal Donoghue says this may be the most challenging year yet and quotes Seamus Heaney:
"if we winter this out we can summer anywhere"
He said it was time to "recommit ourselves to the road ahead, we can't say how long it will last but we all have roles to play".
Some important information for workers - no increase in income tax, USC or PRSI. You will be entitled to up 5 weeks of paid parental benefit. If you are off sick for any reason, you can claim illness benefit from day 3.
— Leo Varadkar (@LeoVaradkar) October 13, 2020
1:38pm: VRT Changes to VRT based on emissions which are aimed at incentivising people to buy low emission cars
Cars: Changes to VRT based on emissions which aims to incentivise people to buy low emission cars. Changes to the motor tax regime. Rates unchanged for those before 2008. Most polutant cars impacted. Read more here: https://t.co/MZph8w4MRA #Budget2021 #WLRNews pic.twitter.com/TgtQNEUWuA
— WLR (@wlrfm) October 13, 2020
Weaker emissions tests on imports will also be changed and current VRT reliefs for hybrids will be allowed to expire in light of the new rates system.
Motor Tax changes A third motor tax will come in from January next year to take in a new testing regime. Rates unchanged for cars before 2008. Most pollutant cars will be impacted
Pack of 20 cigarettes increases by 50c. Pro-rata increase on other tobacco products. €14 now for most popular pack of cigarettes. Read more here: https://t.co/MZph8w4MRA #Budget2021 #WLRNews pic.twitter.com/aH3aCpstdU
— WLR (@wlrfm) October 13, 2020
Increase in a pack of cigarettes of 50c - 14 euro on average now for a packet of cigarettes. Pro-rata increase on other tobacco products.
Min. Donohoe increasing excise on tobacco by 50c, and a pro-rata increase on roll your own tobacco.
Increased tobacco taxes are one of the most effective measures in reducing smoking rates & will help towards the goal of reducing smoking rates to less than 5% by 2025 #Budget2021— Irish Cancer Society (@IrishCancerSoc) October 13, 2020
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1:37pm: Carbon tax increases by 7.50 from €26 to €33.50 per tonne/Co2 from midnight. It will increase by €7.50 every year to 2029 and then by €6.50 in 2030 to achieve €100 per tonne.
Environment: Carbon tax of €7.50 per tonne. Price rise for diesel and petrol. pic.twitter.com/IoDLaOZ4QM
— WLR (@wlrfm) October 13, 2020
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1:35pm: Stamp Duty scheme which refunds a portion of stamp duty paid on acquisition of non-residential land where it is then developed will be extended until end Dec 2022.
Help to buy scheme extended until end of 2021 at the higher max 30,000 euro rate
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1:33pm: Income Tax changes:
No broad changes to income tax credits or bands
The ceiling for the second USC rate adjusted up to 20,687
Weekly threshold for higher rate of employers PRSI will go from 394 to 398
Self-employed income tax credit to rise by 150 to 1650
Increase in the Dependent Relative Tax Credit by €70 to €245
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1:30pm: VAT for hospitality will be reduced from 13.5% to 9% from November 1st until December 2021.
Film industry will benefit from a section 481 scheme, while work to begin on a tax credit for the digital gaming sector from Jan 2022
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VAT for hospitality will be reduced to 9% from November 1st until December 2021. Read more here: https://t.co/MZph8w4MRA #Budget2021 #WLRNews pic.twitter.com/49Jqj2TaAn
— WLR (@wlrfm) October 13, 2020
1:28pm: New scheme to provide targetted support to businesses
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1:25pm: Total budget package will be 17.75 billion euro. 17 billion in expenditure and 270 million in taxation
8.5bn on public services including 2.1bn on contingency funding
Capital spending to increase by 1.6bn
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1:21pm: The Temporary Wage Subsidy Scheme or a similar scheme to run the end of 2021. Govt to apply to SURE EU fund to support this which could yield €2.5 billion.
There will be an extension of the tax warehousing scheme for employers to include those on TWSS
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1:17pm: There will be a €3.4 billion recovery fund. This will be aimed at increasing employment
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1:12pm: "In relation to Covid-19 this budget has been framed on the assumption of a continued presence of the virus".
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1:05pm: Seán Ó Fearghaíl Ceann Comhairle invites Minister for Finance to make his speech.
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12:55pm: Minister for Finance Paschal Donohoe enters government buildings ahead of the Budget announcement which is scheduled to get underway at 1pm. #Budget2021
