Cuts to USC in Budget 2016
The Finance Minister says the country's economic recovery is strong but fragile.
Budget 2016 sees a number of changes across the board including cuts to the controversial universal social charge and the postponement of the local property tax revaluation date to 2019.
The 9% VAT rate on the hospitality sector is set to be retained while the only tax increase contained in the Budget is 50 cent on a pack of 20 cigarettes.
Minister Michael Noonan began his Budget speech by saying Ireland's economic recovery is strong but fragile.
He admitted that the last number of budgets have been hard but they made it possible for the country to exit debt and enter a period of recovery.
The Minister says that this Budget aims to help keep the recovery going with 1,100 jobs created every week and that Ireland is on course to be the fastest growing economy in Europe for the second consecutive year.
Unemployment is expected to fall to 8% by the end of 2016 and to 6.25% by 2021.
Michael Noonan says the future looks bright.
More from Cork
-
Lord Mayor Of City Felt Privileged To Represent Cork During Such A Difficult Time As He Faces Into Last Month In Office
Councillor Joe Kavanagh will be handing over the mayoral chains outside of City Hall for the first time ever on June 18th due to the pandemic
-
Expert calls for people to reduce meat intake
Eating too much meat can increase the risk of serious illnesses by as much as 30%.
-
International Care Day Is Being Celebrated At The Bessborough Centre In Blackrock Today
The event highlights the positive impact of the experience of young people in care
-
UPDATE: Teenage Girl Killed And Three Teenage Boys Injured In Knocknaheeny Crash
It's understood the teenage driver of the car fled the scene on foot
-
Angry Farmers To Stage Protest Outside Aldi in Mitchelstown Later
They're appealing to retailers to come to the talks table
-
UPDATE: Toddler Who Was Injured At Her Home On The Boreenmanna Road Has Died
The two year-old was rushed to hospital with traumatic head injuries