HUGE SPENDING PLANNED IN BUDGET 2021

The government is looking to spend its way out of the recession, confirming there’s set to be a 17 billion euro budget deficit next year.

The largest budget in the history of the state will be funded by borrowing heavily.

4 billion euro added to the Department of Health budget to deal with COVID and increase hospital bed and ICU capacity.

A 3.4 billion euro COVID and Brexit recovery fund.

Targeted money for businesses that have had to close and the live entertainment industry.

Almost a thousand additional SNAs have been promised along with a commitment to reduce student teacher rations to 25:1 at primary level.

620 new gardaí promised and a new fleet of cars for them.

500m from Housing for 9,500 further social homes, and an extension of the help to buy scheme.

Taxation measures are the other side.

A 7.50 rise in the carbon tax that will hit fuel prices from midnight and a promise to do the same every year this decade.

50c added to the cost of a pack of cigarettes, but alcohol has been left alone as the VAT rate for hospitality has been cut back to 9 per cent.

Lots of measures among an almost 18 billion euro spending package in what’s the largest budget in the history of the state.

 

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