Budget 2007
Budget 2007
The following are the main points of the annual 26-County budget for the year 2007, announced by Minister for Finance Brian Cowen today.
* Cost of 20 cigarettes to rise by 50 cents from midnight, raising Euro 112m * Minister for Health to restrict sales of cigarette pack sizes less than 20 * Contributory pension rises to Euro 209.30 per week, non contributory pension rises to Euro 200 per week * Motor tax to be 'rebalanced' to reward lower emissions vehicles * Top tax rate reduced to 41 per cent * Lower (20 per cent) tax band widened by Euro 2,000 * Income tax entry point raised to Euro 17,600 * Income tax credits increased by Euro 130 for a single person * Length of paid maternity leave is increased by 4 weeks to 26 weeks * Mortgage interest relief for first-time buyers to be doubled to Euro 8,000 for a single person * New standard rate of children's allowance set at Euro 22 per week * Child Benefit will be increased by Euro 10 per month for each of the first and second qualifying children to Euro 160 per month * Mortgage interest relief to apply to buyers in the first seven years of their loan * Widowed person's tax credit increased by 10 per cent to Euro 550 per annum * Farming reliefs renewed and extended * Measures to encourage the transfer of farms to younger farmers * Annual respite grant rises by Euro 300 to Euro 1,500 * 0.5 per cent increase in health levy on earnings over Euro 100,000 * Inflation expected to be 2.6 per cent next year * Extension of business support grants for 7 years to encourage enterprise * Euro 70 million tax credits for investment in research and development * Sports clubs purchasing land for sporting activities to be exempt from stamp duty * Euro 270 million allocated to buy carbon allowances up to 2013 * Euro 10 million for Local Government fund for cleaner water projects * Grant aid for biofuel producers * Excise on kerosene to be abolished

Urgent Appeal

Despite increasing support for Irish freedom and unity, we need your help to overcome British and unionist intransigence. We can end the denial of our rights in relation to Brexit, the Irish language, a border poll and legacy issues, with your support.

Please support IRN now to help us continue reporting and campaigning for our national rights. Even one pound a month can make a big difference for us.

Your contribution can be made with a credit or debit card by clicking below. A continuing monthly donation of £2 or more will give you full access to this site. Thank you. Go raibh míle maith agat.

© 2006 Irish Republican News