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Thread: The Budget

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    Default The Budget

    Brian Cowen's budget is just about to start.

    View here

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    Minimum wage to be kept out of tax brackets. Top band of tax to be altered so average industrial wage is taxed at the standard rate.

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    Can't say I'm very impressed with much vaunted child care package:

    extra €9 per month in child benefit
    4 extra weeks paid maternity leave
    €1,000 per annum payment for all children under 6

    Hardly earthshattering is it?
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    No money for extra Gardaν, so that's the 2,000 extra Gardaν promise gone. No money to implement the Childrens' Act, so they're not bothered with Anti-Social Behaviour either.

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    Quote Originally Posted by qtman
    Can't say I'm very impressed with much vaunted child care package:

    extra €9 per month in child benefit
    4 extra weeks paid maternity leave
    €1,000 per annum payment for all children under 6

    Hardly earthshattering is it?
    If thats all that's in the pot for childcare, while public serpents (sic.) get an extra 1.1 billion a year, then this is going ot blow up on FF bigtime. I've already had one committed FF voter swear he'll never vote FF again.

    Maybe they intended leaving the really big rise to next year, closer to the election, but this could seriously backfire on them
    1,197 people agree with me.. how many agree with you ?

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    Quote Originally Posted by rockofcashel
    Quote Originally Posted by qtman
    Can't say I'm very impressed with much vaunted child care package:

    extra €9 per month in child benefit
    4 extra weeks paid maternity leave
    €1,000 per annum payment for all children under 6

    Hardly earthshattering is it?
    If thats all that's in the pot for childcare, while public serpents (sic.) get an extra 1.1 billion a year, then this is going ot blow up on FF bigtime. I've already had one committed FF voter swear he'll never vote FF again.

    Maybe they intended leaving the really big rise to next year, closer to the election, but this could seriously backfire on them
    He also included some stuff about increasing supply of places, but there aren't any details, and that won't register with the voters anyway.
    The only way to change the world is to win elections.

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    There's also a figure of €790 million investment in childcare over 4 years.

    There are some good things in there, but there's an awful lot missing. It looks like Cowen has spread himself too thinly in a bid to please everyone. It would have been better to really focus on a couple of key things and deal with them properly.

    At least the stud fee tax relief is going .... but not until 2008!
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    Budget 2006

    Personal Taxation
    Standard rate income tax band goes up by €2,600 – to €32,000
    Employee credit rising by €220 a year to €1,800
    Minimum wage to remain outside the tax net in 2006

    Customs, Excise & VAT Rates
    No increase in cost of cigarettes
    No increase in price of pint
    No increase in petrol
    No increase in diesel
    Excise rate on home heating oil to be cut in half

    Childcare
    New Early Childcare Supplement - €1000 per year for each child up to his or her sixth birthday
    Monthly child benefit rate – increased to €150pm (1st & 2nd Child) €185 (3rd & subsequent children)
    Creation of an extra 50,000 childcare places.
    Mothers of new-born children will have additional four weeks paid maternity leave
    Private Childminders exempt from tax for first €10,000 income

    Social Welfare
    Old Age Pension – up €14 / 8% to €193pw
    Social Welfare Rates – up €17 / 11% to €165.80pw
    National Fuel Scheme – up €5 / 55% to €14pw
    Respite Care Grant – up to €1,200
    Maternity Benefit rate – up 75% to 80% of reckonable earnings
    New enhanced Carer's Allowance €200pw (66 or over) and €180 (under 66)

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    Quote Originally Posted by damianob
    There's also a figure of €790 million investment in childcare over 4 years.
    That's the total cost of the benefit increases, tax reliefs and grants. Its not in addition to the individual measures. Its also over 4 years. Labour want to spend €1.5Bn over 4 years.
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    Quote Originally Posted by qtman
    That's the total cost of the benefit increases, tax reliefs and grants. Its not in addition to the individual measures. Its also over 4 years. Labour want to spend €1.5Bn over 4 years.
    yes, thought it looked a bit vague alright.

    And no tax relief on childcare. An annual payment of €1000 won't go very far when childcare is costing €1000 a month.
    It's alright to say things can only get better,
    You haven't lost your brand new sweater.

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