Budget Day

Budget 2017 will be announced today with a modest tax cut for every single worker.

There’ll also be increases in welfare payments for older people after a deal late last night.

Today’s Budget, which will be unveiled at 1pm, will among the least dramatic of the six drafted by Michael Noonan.

He has around 400 million euro to give away, and will do it largely through cutting USC – worth half-a-percent to the vast majority of workers.

There’ll also be increases in tax relief for landlords and the self-employed – and a major scheme to give tax breaks to first-time buyers, but only for new builds.

A 30 cent increase on the cost of cigarettes will be announced, though the other ‘old reliables’ will be untouched.

Paschal Donohoe’s speech will follow at 1.45pm for his debut budget – with 800 million euro in extra spending money.

His announcements will include the biggest health budget ever, the extension of social protection benefits to the self-employed, and money for new Nurses, Gardaí and teachers.

As a result of a deal last night, there’ll be a €5 increase in the pension and other payments to senior citizens, kicking in from March 2017.

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