Budget 2009I am not looking forward to this budget, the second one in 6 months! Later on I will post the “highlights” (sic) of the Budget but in the meantime I advise everyone to go out and buy petrol/diesel, wine, beer, spirits, cigs etc.

(Well if we all did that we probably wouldn’t be in this mess, lol)

Please see below the updates from Budget 2009

  • The income levy rates will be doubled to 2%, 4% and 6%.
  • The exemption threshold will be €15,028. The 4% rate will apply to income in excess of €75,036 and the 6% rate to income in excess of €174,980.
  • The health levy rates will double to 4% and 5%. The entry point to the higher rate will be €75,036.
  • The PRSI ceiling will be increased from €52,000 to €75,036.
  • Mortgage interest relief will be discontinued for any mortgage over 7 years from 1 May.
  • Diesel to increase by 5c a litre (including VAT)
  • The Excise Duty on a packet of 20 cigarettes will be increased by 25 cent (including VAT)
  • Early Childcare Supplement monthly payment to be halved to €41.50 per child with effect from 1 May 2009 and abolished at end-2009. It will be replaced in January 2010 with a pre-school Early Childhood and Education Scheme (ECCE) for all children between the ages of 3 years 3 months and 4 years 6 months

More in-depth details can be found at budget.gov.ie